TECH & AI
“ BLOCKCHAIN IMPROVES TRANSPARENCY , PROVIDING A FLOW OF INFORMATION TO SUPPORT SUPPLY CHAIN PLANNING ”
RAJESH DHUDDU , GLOBAL HEAD , BLOCKCHAIN & METAVERSE , TECH MAHINDRA
and offline . This approach creates a lot of friction and vulnerabilities when it comes to sharing information .
Blockchain is seen as a solution that can improve supply chains in the following areas : Transparency – by providing a flow of information to support supply chain planning , including production and distribution . Speed and efficiency – by helping get the right goods to the right place at the right time , through digitised tariff processes and other means of determining the origins of a consignment . Traceability – by allowing for the reconstruction of the origin and movement of goods at every stage of the value chain , including audit trails and certifications .
Uptake of blockchain in supply chain in infancy A PwC report into blockchain shows that although blockchain is spurring interest , it ’ s yet to see a massive amount of traction , with just 5 % of companies and 27 % of so-called ‘ digital champions ’ having implemented blockchain solutions , either in supply chain or other areas of business .
One company that is helping drive the adoption of blockchain in the supply chain is IT consultancy giant Tech Mahindra – part of the Mahindra Group , founded in 1945 and one of the world ’ s largest multinational federation of companies , with 260,000 employees in 100 countries .
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