How digital technologies transform Supply Chain?

Today digital technologies are transforming the supply chain, benefiting everyone from small farmers in Africa to buyers of diamond rings. For smallholders in developing countries, the inability to hold a record of transactions often makes it impossible to get good access to credit, exposing them to predatory lenders. But blockchain technology might improve this situation.

In Zambia, software company BenQ has joined drinks company AB InBev to give cassava and barley farmers a record which is accessible of all the sales to their company through mobile phone. This enables them to build an account history, which enables them to secure loans and win contracts. Digital technology can also allow corporate buyers and consumers to discover more about the sustainability and the ethics of their purchases. If a ledger uses blockchain sensors and scanning technologies to track and authenticate the origin of seven types of valuable assets, including diamonds, wine, and works of art it will be a benefit to them. The company uses a digital ledger to see the assets at every stage in the supply chain. And works with certification houses to give assets, such as diamonds, and each diamond is as unique as a snowflake, a digital thumbprint or authentication.

Meanwhile, IBM's Food Trust initiative uses the internet of things, artificial intelligence and blockchain to capture and share information along the supply chain. This can reduce food waste and quickly identify the source of any contamination. And means recalls are much easier to manage. And to tackle problems such as deforestation, the sustainability consultancy the South Pole taps into a range of tools, including big data and satellite mapping. The company can assist climate risk and how the activities of companies, governments, and others are affecting the world's forests. The goal is then to reduce the carbon footprint of their supply chains.

One digital technology at a time, the supply chain is becoming ever more efficient and transparent.

References:

https://www.pwc.in/consulting/digital-transformation/supply-chain-transformation.html

https://www.peerbits.com/blog/drive-supply-chains-technologies-of-2018.html

https://blogs.oracle.com/scm/preparing-your-business-for-the-digital-supply-chain