The internationalization of flows has brought about more complexity in business management. Supply chains are now managed at a global scale, take outsourcing strategies into account and integrate wide product portfolios.
With more internal or external suppliers, and more products and raw materials coming from different locations, it is critical to build a smarter end-to-end system, more instrumented, interconnected and intelligent in order to identify, capture and share accurate product information at any stage of the product lifecycle.
Globalization has brought about new challenges for companies regarding cost structure, flexibility and risk management. Considering the number of parties involved in supply chain flows, transparency has become an essential parameter in identifying bottlenecks and potential issues. Blockchain technology paired with NFC/RFID solutions offers a solution to improve reliability, accountability and effectiveness in dealing with supply chain flows.
Content retrieved from: https://electronicpro.com/Resource/Detail/53672.