Supply Chain Briefing: Blockchain Brings Traceability and Product Authenticity to the Supply Chain
In our weekly series Supply Chain Briefing, we discuss how technology is transforming the various stages of the retail supply chain, including product design, demand forecasting, manufacturing, logistics, warehousing, last-mile delivery and sales.
This report discusses blockchain, a distributed ledger technology used in supply chain across a variety of industries.
- The blockchain supply chain market is estimated to grow from $145.0 million in 2018 to $3.31 billion by 2023, according to market research firm MarketsandMarkets.
- Brands from different industries use blockchain technology to enhance transparency and traceability along the supply chains.
- Blockchain has applications across the retail and consumer goods industries.
Below, we illustrate the seven major components of a retail supply chain, and some of the technologies that can support processes at various stages – from product design to end consumer.