Blockchain Technology Effects on Logistics Sector
Overview
Blockchain technology adds an additional layer of transparency that provides clarity and peace of mind to all stakeholders. The key to any successful business is the ability to communicate effectively and clearly with your partners and clients. What better way to achieve that goal than to implement a platform dedicated to that single purpose? Let’s take a look at how that applies to the logistics industry…
Blockchain solutions will document and record the transfer of all commodities used throughout a shipment. Every time a pallet moves, a container filled, or delivery attempted, it creates a record. This provides an incorruptible digital paper chain.
Blockchain software also records transactions and can store digital copies of important paperwork such as a purchase order, bill of lading, customs documents, and more. Additionally, it is possible to update it on the fly. This allows carriers to update their shippers and recipients about any freight delays or expected arrival time changes all while on the road.
This type of software also records temperature zones for cold storage supply chain operations. Not only does this provide a digital record, but it also improves the safe movement of temperature-sensitive materials. As such, it reduces the potential for bacteria spread or foodborne illnesses.
Blockchain also provides a digital link between tracking software and hardware tools such as serial numbers, bar codes, RFID tags, and the product itself.
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