Supply chains have never been more complex, and proving the provenance and quality of a supply chain has never been more important. A supermarket may want to prove to consumers that its chickens were reared free-range and organically. A pharmaceutical business may need to show that ingredients in its products have come from authentic, approved sources. An aeronautical business may have to demonstrate that its constituent parts have been made to the highest quality and to the requisite safety standards by a reputable manufacturer. Indeed, no matter what sector, both regulators and customers want to know what is in a product and where it all came from.
The other side of the coin is that businesses want to know when their suppliers have dispatched goods, when those goods have passed through ports and customs checks, and when those goods will be delivered. Often, it can be the difference between supplying a customer on time, or not. Blockchain can help provide these answers.
