Question
Analyse the role of Blockchain technology in SCM. How does it enhance transparency and traceability in global retail operations?
Answer :
Word Count : 509
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Blockchain technology has emerged as a transformative tool in supply chain management, particularly in the context of retail operations. At its core, blockchain is a decentralized digital ledger that records transactions in a secure, immutable, and time-stamped manner. In retail supply chains, this technology enables multiple stakeholders—including manufacturers, distributors, logistics providers, and retailers—to access the same verified data in real time, reducing reliance on intermediaries and minimizing errors or discrepancies in records. One of the primary advantages of blockchain in retail supply chains is enhanced transparency. Each transaction, movement of goods, or change in inventory is recorded as a block that cannot be altered retroactively. This ensures that all participants in the supply chain can track the
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