Question
Analyse the role of Blockchain technology in SCM. How does it enhance transparency and traceability in global retail operations?
Answer :
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Skip in 10
Blockchain technology has emerged as a transformative tool in supply chain management, particularly in global retail operations where complexity, scale, and the need for coordination among multiple stakeholders create significant challenges. It is a decentralized and distributed digital ledger that records transactions in a secure, immutable, and transparent manner, thereby addressing long-standing issues related to trust, visibility, and efficiency in supply chains. In retail supply chain management, blockchain plays a critical role by creating a single, shared version of truth accessible to all authorized participants, including suppliers, manufacturers, distributors, logistics providers, and retailers. Traditionally, supply chains suffer from fragmented data systems, where each entity maintains its own records, leading to inconsistencies, delays,
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