Supply chain management (SCM) is the coordination of all activities involved from the creation to the delivery of goods and services, from the supplier to the end customer.

1. Blockchain-Based Supply Chain Management
Supply chain management (SCM) is the coordination of all activities
involved from the creation to the delivery of goods and services, from the
supplier to the end customer. Effective supply chain management involves
optimizing the flow of materials, information, and money across the supply
chain network. This ensures that products are delivered to the right place,
at the right time, in the right quantity, and at the right cost.
Supply chain management has become increasingly important in today’s
globalized and interconnected business environment. Companies are
facing greater competition, more complex supply chains, and higher
customer expectations. Effective supply chain management can help
companies reduce costs, improve quality, increase speed to market and
enhance customer satisfaction.
Application Of Blockchain In Supply Chain Management
Blockchain technology can improve collaboration between suppliers,
manufacturers, distributors, retailers, and customers. This will create value
and reduce costs for all parties involved, ultimately leading to increased
profitability and growth. So, Bahaa Al Zubaidi looks at some of the
applications of blockchain in supply chain management.
Traceability and Transparency
Blockchain can be used to track and trace goods throughout the supply
chain, providing a transparent and tamper-proof record of each step in the
process. This can help companies to identify and resolve any issues like
quality control, compliance and fraud.
Improved Efficiency
By using blockchain, supply chain participants can automate many of the
manual processes involved in supply chain management like
documentation, payments and logistics. This can help to reduce costs,
errors and delays in the supply chain.
Reduced Risk and Fraud

2. Blockchain can provide a secure and immutable record of transactions and
data, making it more difficult for fraudsters to manipulate or steal
information. This can help to reduce the risk of fraud and theft.
Increased Collaboration
By using blockchain, supply chain participants can share data and
information more easily and securely, allowing for greater collaboration and
coordination across the supply chain. This can help to improve
communication, reduce redundancy, and enhance decision-making.
Sustainability and Ethical Sourcing
Blockchain can be used to track and verify the sustainability and ethical
sourcing of products, helping companies to meet consumer demands for
ethical and sustainable products. This can also help to reduce
environmental impact and improve social responsibility.
To Sum Up
Blockchain has a high potential to transform supply chain management. It
can increase transparency, efficiency, and security in the flow of goods and
information. It can reduce costs and risks. So, In the future more and more
companies will adopt it to remain competitive.
Thank you for your interest in Bahaa Al Zubaidi blogs. For more
information, please stay tuned to www.bahaaalzubaidi.com