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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Blockchain technology has emerged as a transformative tool in supply chain management, particularly in the context of global retail operations. At its core, blockchain is a decentralized digital ledger that records transactions across multiple nodes, ensuring data integrity, immutability, and real-time visibility. In retail supply chains, where products move across numerous intermediaries, countries, and logistical processes, blockchain addresses the critical challenges of transparency, traceability, and accountability. One of the primary advantages of blockchain in retail supply chains is enhanced transparency. Each transaction or movement of goods—from sourcing raw materials to delivering finished products to the store—is recorded as a block on the chain. These records are immutable, meaning they cannot be altered without consensus across the network. Retailers, suppliers, logistics partners, and even consumers can access verified data on product origins, production methods, shipping timelines, and inventory levels. This transparency reduces opportunities for
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