How does Block chain work in Supply chain Management? How can we say that Block chain technology bring efficiency and transparency in transactions?

Supply Chain Management

CREATIVE WRITING ASSIGNMENT ON BLOCK CHAIN TECHNOLOGY IN SUPPLY CHAIN MANAGEMENT

Recent technological advancements and rapid manufacturing growth are having a considerable impact on the global supply chain. For example, artificial intelligence is taking over quality control, Internet of Things (IoT) devices and drones are monitoring manufacturing and maintenance, and more than 1.9 million robots are already deployed in manufacturing and warehousing globally.

Today, companies need to be agile, flexible, and responsive to survive. Those that drive continuous innovation throughout their businesses and supply chains – and differentiate themselves in a highly competitive market by remaining dynamic and relevant – are the ones that succeed.

Keeping in view the above lines you are asked the following questions.

Q1. How does Block chain work in Supply chain Management?   (5 MM)

Q2. How can we say that Block chain technology bring efficiency and transparency in transactions?  (4 MM)

Q3. What are characteristics of Blockchain technology?    (4 MM)

Q4. Name five companies in the world who use this technology.    (2 MM)