The attributes of blockchain technology are ideally suited to networks of partners, big and small. By providing a shared, single version of the truth through a shared ledger, blockchain increases trust and creates efficiencies by eliminating the “we said/they said” problem and creating a shared understanding of all possible disruptions that could impact OTIF delivery. With blockchain, transaction records are immutable, or tamperproof, and agreed upon by all parties. Immutability creates an audit trail. Privacy is maintained by permissioning appropriate levels of data visibility for different parties. And business rules are shared and enforced by the system through smart contracts.
The Future is Here: How Blockchain Helps Build Smarter Supply Chains
