How Blockchain is Uncovering the Value in Supply Chain Logistics

Logistics is one of the most complex businesses on the planet, and to achieve excellence you have to be able to work collaboratively with others in order to manage and optimize the physical flow of goods as well as the complex flow of information and financial transactions. Blockchain is predicted to be the most effective tool to manage logistics and maximize the value within. 

How Blockchain Uncovers Value in the Supply Chain

There is a significant amount of trapped value in logistics, largely stemming from the fragmented and competitive nature of the logistics industry. In the US alone, it is estimated that there are over 500,000 individual trucking companies. With so many companies and so many people you end up with very low visibility, transparency, data silos, un-standardized systems and diverse levels of technology adoption.

Many parts of the logistics value chain are also bound to manual processes mandated by regulatory authorities. For example, companies must oftentimes rely on manual data entry and paper based documentation to adhere to customs processes. All of this makes it difficult to track the provenance of goods and the status of shipments as they move along the supply chain, causing friction in global trade. Blockchain can potentially overcome issues and realize substantial gains in logistics process efficiency.

Click here to see some of the industry transforming changes that Blockchain is bringing.

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