Blockchain is presently one of the notable innovative advancements that are transforming the face of digital supply chain management. The growing complexity of supply chains, along with a rising number of external intermediaries and different stakeholders, is one of the prominent concerns in supply chain management. So, the applications of blockchain in supply chain management have the potential to streamline the exchange of data, communication, and documents in the supply chain landscape.
However, blockchain is a comparatively new technology that emerged almost over a decade ago for supporting Bitcoin transactions. Will it be reasonable to implement blockchain solutions for supply chain management? So, let us dive into the following discussion to find out the significance of blockchain in supply chain management.