Introduction to the Supply Chain
A supply chain connects raw materials, processing, assembly, storage, transportation, and sales so products or services can be delivered to customers. Globalization expands sourcing and markets while increasing management complexity. Blockchain can improve record transparency, automate processes, and track shipping conditions.
What a Supply Chain Includes
A supply chain is a network of people and businesses involved in producing or distributing a product or serving customers. It includes not only raw-material suppliers but also component processing, product assembly, storage and transportation, retail locations, and other participants that enable a business to deliver goods and services to customers.
Benefits and Challenges of Global Supply Chains
Modern supply chains can span multiple countries, giving businesses access to more components, products, and materials while potentially reducing procurement costs and opening new markets. More participants and locations generally make processes more complex, so supply chain management is needed to improve overall efficiency and identify and reduce risks at each stage.
How Blockchain Improves Records and Settlement
Shared blockchain ledgers can record product origin and ownership changes, helping participating businesses improve transparency and reduce some internal audit work. A smart contract can also track products, determine ownership, and trigger payment automatically after delivery, reducing manual processing and administrative costs.
Monitoring Shipping Conditions with Sensors
Blockchain systems can also work with physical sensors to record shipping and storage conditions for sensitive goods. For example, a food-transport vehicle can monitor whether temperature remains within requirements. Adding this data to traceable records helps receiving businesses verify the quality and handling of goods during transportation.
Original Tutorial
https://www.binance.com/en/academy/glossary/supply-chain
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