Supply Chains have grown in scope and scale alongside the globalisation of marketplaces. The manufacture, assembly and shipping of goods and raw materials are now complex operations that span continents.

Technology has transformed these processes and the rate of change is increasing at an exponential rate. A successful supply chain is paramount to creating superiority within any chosen marketplace and thus form a fundamental investment pillar for any large business.

Distributed platforms running on the cloud have made supply chain processes more global, optimized quality and allowed economies of scale. They have also introduced complexities, inefficiencies and fraud, leading to more regulations and a demand for heightened monitoring.

The modern-day supply chain is a vast ecosystem with many product variants and contract manufacturers cutting through a supplier network and diverging to different distribution models – traditional retail and online consignment. The supply chain is also a lot more dynamic than before, with shorter product lifecycles and more extreme ramp-up and ramp-down periods.

The technology powering supply chain management is due for an update. The good news is that supply chains are one of the key areas where blockchain comes into its own. Blockchain technology ensures provenance, offers visibility across the full supply chain, boosts safety, and provides a holistic view of the value chain.