What are the goals of a Blockchain Enriched Supply Chain?

The goals of a Blockchain Enriched Supply Chain center on creating an intelligent, collaborative, and secure environment for managing the flow of goods, information, and funds across supply chain participants. Blockchain technology enhances transparency, accountability, and efficiency throughout the supply chain by providing a decentralized and tamper-proof ledger that all parties can access. This fosters collaboration among stakeholders, as they can track products in real time, verify the authenticity of goods, and streamline processes without relying on a central authority.

In addition, a blockchain-enriched approach helps improve security measures by reducing the risk of data tampering and fraud, further solidifying trust among the supply chain partners. This holistic view aligns with contemporary trends in supply chain management that emphasize collaboration and innovation, allowing businesses to respond swiftly to market demands and enhance overall performance.

Other options, such as focusing on high-volume, low-profit markets, maximizing physical store locations, or adhering to traditional manufacturing practices, do not reflect the advancements and objectives that blockchain technology inspires in supply chain management. Instead, they may represent outdated models or strategies that do not take full advantage of the capabilities that modern technology offers.