All posts tagged Supply chain
Automating controls and compliance with blockchain is the next step in the digital transformation of companies of all sizes and types. Blockchain technology can create greater efficiency than we’ve ever known, while reducing delays, costs and errors.
Reading time: 3 minutes. Photo by Maximalfocus on Unsplash.
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The application of smart contracts can streamline transactions across the globe. Friction points smart contracts can solve begin with the automation of trust between parties. This is blockchain’s primary purpose.
Smart contracts can reduce the operational friction required to validate ownership, identity and contractual terms by allowing participants to interact directly with one another with no middlemen providing verification.
Reading time: 5 minutes. Photo by Ehimetalor Akhere Unuabona on Unsplash.
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More and more enterprises are turning to smart legal contracts for managing supply chain ecosystems efficiently. Smart legal contracts can provide secure, accessible digital versions to all parties in a single transaction. In addition, they can also manage the workflow of approvals and automatically transfer upon all signatures being collected.
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The relationship between blockchain and supply chains has developed in recent years. Thanks to concrete examples and successful pilots, blockchain and smart contracts for supply chain automation are now gaining momentum.
In less than a decade we’ve started to see real-world applications and how some industries are already reaping the benefits. Distributed ledger and blockchain technology clearly have many far-reaching implications for global trade and supply chains.
Reading time: 3 minutes. Photo by frank mckenna on Unsplash
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The COVID-19 pandemic is challenging procurement teams to rethink the whole Supplier Qualification and Onboarding process, with active suppliers adjusting how they work, and new suppliers bypassing the qualification process for initial onboarding to keep operation flowing.
However, the Supplier Qualification Management (SQM) is essential to mitigate all the risks connected to the onboarding process, which can seriously affect your business. That’s why in this article we are going to define what is Supplier Qualification and why you need to implement right the qualification for initial onboarding.
Reading time: 3 minutes. Photo by Piermanuele Sberni on Unsplash
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The COVID-19 pandemic has had a dramatic effect on global trade, disrupting industries, economies, and supply chains. Prolonged lockdown periods caused a supply and demand shock. Governments, businesses, and individual consumers struggled to procure basic products and materials. Most of them were forced to confront the fragility of the modern supply chain to achieve better supply chain resilience.
Reading time: 3 minutes. Photo by Brett Jordan on Unsplash
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There are several steps to follow if you want to streamline supplier onboarding and reduce counter party risk. These strategies can help you set up a process and and improve efficiency.
Reading time: 4 minutes. Photo by Ricardo Resende on Unsplash
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