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HomeProcurementImpact of Blockchain on Fast-Moving Consumer Goods

Impact of Blockchain on Fast-Moving Consumer Goods

Blockchain technology offers new tools for authentication and authorization in the digital world that preclude the need for many centralized administrators. As a result, it enables the creation of new digital relationships.

This technology provides potential to upend the way every industry manages its information and data and financial services. Examples are Legal, Supply Chain, Government, Energy, Food, Retail, Healthcare, Insurance, Travel and Hospitality & Education sectors.

Blockchain for every industry
Picture extracted from Jeremiah Owyang. NewCo Shift. (2017)

Application Areas of Blockchain Technology

1. Legal

“Smart contracts” stored on the blockchain track contract parties, terms, transfer of ownership, and delivery of goods/ services without legal intervention.

2. Supply Chain

By utilizing a distributed ledger, companies within a supply chain gain transparency into shipment tracking, deliveries, and progress among other suppliers where no inherent trust exists.

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Andrew Tan Howe
Andrew Tan Howe
Andrew Tan Howe has substantial experience in the supply chain management of Fast-Moving Consumer Goods (FMCG). He holds the Diploma in Logistics and Supply Management (DLSM) and is a qualified member of the Singapore Institute of Purchasing and Materials Management (SIPMM). Andrew completed the Advanced Diploma in Logistics and Supply Management (ADLSM) course on July 2018 at SIPMM Institute.

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