Blockchains are a new kind of database that have the potential to change the way supply chain information is stored and shared. Blockchains are ledgers that are distributed between many different companies. You can keep some identity information private, but everyone on the blockchain gets to see every transaction that occurs. Blockchains have the potential to address three common problems with supply chain information systems: systems mismatch, data reliability, and trust in partners.
- Blockchain is a new technology…that's quickly becoming important…for supply chain professionals.…When we talk about a supply chain,…we're describing a network of companies…that buy and sell things from one another.…They interact through transactions…where they exchange money, materials and information.…And we contract these transactions…by recording them in a ledger.…That's exactly what a blockchain is.…It's just a way to keep lists of information…and the transactions that occur…between people or companies, but the way…that blockchains store these transactions is unique.…
Once a transaction is added to a blockchain,…it can never be changed or removed.…It's immutable, and rather than storing data…on just one computer, blockchains are shared and copied…onto many different computers called nodes.…When one of the nodes wants to add a new block…to the chain, they need to get the other nodes to agree.…This is a process called consensus.…An easy way to explain it,…is to imagine that you're going to dinner…with 10 of your friends.…
- Explore the fundamentals of source inputs within a supply chain.
- Examine the role of returning products in a supply chain.
- Determine how to calculate total costs.
- Explore the role of investing in flexibility when managing a supply chain.
- Discover how to increase visibility with a control tower.
- Identify the role innovation plays in supply chain management.
- Examine how artificial intelligence and machine learning help to monitor supply chain trends.
- Break down the fundamentals of selecting the right technology when implementing a supply chain agenda.
- Determine the best ways to collaborate externally when implementing a supply chain agenda.