Using Technology to Realize Lean, Optimized Supply Chain Organizations
In our business, we have the privilege of seeing not only how far supply chain organizations have come, but also which way they are going. From our perspective, there are some very exciting developments that will affect supply chain drastically as they are adopted across various industries. The development we see as one of the biggest game changers is blockchain technology. Though we already see companies implementing it, moving forward, blockchain will be used in every industry to provide reliability and transparency within complex supply chains. It will allow goods to be easily traced from source to consumer and will enable smart contracts to clear instantly and without dispute.
Image used with permission from Data Gumbo
The adoption of this extremely helpful technology allows companies in the constant pursuit of cash flow to eliminate waste and lean out cost structures. Compared to mature industries, where the low hanging fruit was harvested long ago, the next wave of efficiencies will be generated from win/win relationships up and down the value chain. Blockchain solutions foster partnerships within supply verticals and create the next evolution of profitability.
Forward leaning companies are no longer speculating on what the future holds. They understand that to realize the benefits of the technology being created now, they must begin to act today. As a result, many are applying blockchain solutions to their toughest supply chain challenges, thereby experiencing what the future holds – today.
Learn more about our supply chain consulting capabilities and the latest news about blockchain company, Data Gumbo! Let us know which topics you want to hear about by connecting on LinkedIn @Carnritegroup.