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How Blockchain and IoT Applications are Transforming the Cold Chain.

Author(s) : RAMACHANDRAN M.

Type of article: Article

Summary

The modern-day supply chain is a complex system with nonlinear, multi-tier relationships and real-time digital processes essential for remaining competitive and profitable in the global marketplace. New distribution models, higher number of SKUs, shorter product lifecycles, increasing levels of customer service and volatility in demand planning have increased the complexity of supply chains. Supply chain operations are massive and impact 70% of the Global GDP. The sheer amount of transactional data and the number of parties involved bring challenges related to data harmonization and stakeholder integration. Today, the world loses billions of dollars due to fraud, counterfeiting and inefficiency of supply chains. In addition, there is a huge cost involved in compliance monitoring, auditing and maintenance. Thus, new supply chain models are based on micropayments, digital identity certificates and tamper-proof documentation.

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Pages: 14-22

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Details

  • Original title: How Blockchain and IoT Applications are Transforming the Cold Chain.
  • Record ID : 30024612
  • Languages: English
  • Subject: Technology, General information
  • Source: Air Conditioning and Refrigeration Journal, Cold Chain - vol. 9 - n. 2
  • Publication date: 2018/06

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