Blockchain technology is revolutionizing supply chain management by enhancing transparency, traceability, and efficiency. It allows all stakeholders to access a shared, immutable ledger of transactions, improving visibility into product journeys from origin to end-user. This transparency helps identify inefficiencies, counterfeits, and sources of delay, ultimately leading to optimized processes. For instance, retailers can trace the origin of products, ensuring ethical sourcing and quality assurance. Additionally, smart contracts automate processes such as payments and order fulfillment, reducing administrative burdens and errors. Companies like Walmart and Maersk have successfully implemented blockchain to streamline their supply chains, showcasing its potential to transform traditional practices.
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