How Blockchain Technology Contributes To The Start Of The New Packaging Era Part2
Purchasers want all now, and they want it as cheap and fast as possible: in the current market customers have more pressure and products have shorter life cycles and they both want supply chain to conform to this. At the same time, supply chain companies must deal with the fact that trends never last for a long time and that anticipating demands for new products, satisfying fast-changing market requests helps in the short term but can be risky in the long term.
The market is not even a united entity, on the contrary! It can be better represented as a sum of fragmented components at the mercy of global changes or enclosed crisis that, according to economists, tend to a natural equilibrium between what providers supply and what consumers demand. Technological innovation and wars, competitors strengths or weaknesses and natural disasters, exchange rates and elections make the market go up and down.
Overcoming such challenge is not easy, neither for the most experienced experts in the field and the most renewed brands in the market. But keeping the control of costs, market fluctuation, transportation and materials prices and much more is crucial.
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But once again Blockchain technology comes to an aid!
This is how the technology we choose for our innovative project is able to guarantee it in a global digital market where buyers invest their money to buy aleatory products and services from distributors and other intermediaries they will never see in the eyes:
5. Eliminate intermediaries
6. Control raw materials fluctuations
7. Assure compliance to the rules
8. Demand forecasting
Loss of information, distances, barriers, the impossibility to evaluate the true cost of a product, to identify if an actor of the chain is conducting illegal activities (such as keeping workers in slavery or in inhumane work conditions, funding criminal activities or war, exploiting child labour, damaging the environment and exploiting raw materials) call for more social responsibility of enterprises in the so-called hidden actions, the ones that the companies dont have an insight Into. Blockchain can improve the visibility to the supply chain as each side is able to know where exactly the product is. Sharing this information makes the planning process easier and buyers/sellers can predict lead times better and make accurate order counts.
Moreover, each ring of the chain has on hand all the information he needs to ensure the well-being of the transaction, which leads to higher productivity and quality. This is not only a plus value for customers, but also for small companies and global brands, that can ultimately fulfil the expectations of their clients, which results in higher levels of trust. Transparency is indeed the most important driver of creating trust, that in turn generates reliability, long-term business relationships, clients satisfaction and creates a digital environment on the where discussion, collaboration and innovation can thrive. We take cyber-security seriously. Thats why we are working every day to implement all best-practice security measures to thwart potential attacks and build transparent, trusty and trackable policies.
Read more:
https://openpackagingnetwork.tumblr.com/post/179585499315/how-blockchain-technology-contributes-to-the-start