Supply Chain

Blockchain provides exceptional Supply chain visibility

Supply chain management handles everything from when goods are shipped to when they are delivered to stores or factories from warehouses. This work was completed using time-consuming paperwork and massive databases hosted on the server. Now it’s time to upgrade with supply chain management software using blockchain technology.

Blockchain-based supply chain monitoring solutions have raised the bar. They deliver more real-time data than earlier choices based on VANs, GDS services, and cloud hubs and offer better interoperability. Blockchains also enable partners to automate complex interparty agreements and use customizable formats. Partners can streamline their operations to better satisfy their supply chain needs owing to blockchain technology.

This transparency is offered by blockchain technology, such as Hyperledger Fabric, which is designed for enterprise use and gives trading partners control over how their information is shared inside the network. This permits the confidentiality of proprietary transaction information. We at Speqto, provide the best blockchain-based supply chain management solutions assisting you to trace your product journey with enhanced efficiency and visibility. With the collaborative efforts of our skilled and experienced professionals, we deliver the finest supply chain solutions to our clients with prime service quality.

Supply chain Solutions we offer

SPEQTO is the one-stop destination for all your supply chain solution needs. Client’s need fulfillment is our topmost priority. We ensure exclusively customized service for our clients as per their expectations, needs, and preferences. Some of the Supply chain Management Services we offer are as below-

Supplier data management-

Securing the information record in the safest and most cryptic way. Maintaining records of each transaction helps us in many ways for future purposes. It helps in maintaining transparency and building strong client relations.

Contract Cost management-

Price plays a major role in any deal for both the parties involved. Using blockchain technology in enhancing the supply chain management system assists the management in estimating the overall cost with accurate results due to updated digital automation.

Order placed for products and services-

Discover the product and services with correct ordering procedures. Get automated updates enabling faster and more cost-efficient delivery of products, enhancing products’ traceability.

Requisition management service

Maintaining the request-order documentation in sequential order is beneficial for having an estimation of the required material. The status of a product is frequently tracked using blockchain technology at every stage of its lifespan. It is favorable to keep track of processes beginning with the first phase of production.

Effortless orders processing

Blockchain technology facilitates rapid order processing with no middlemen or gateways. Organizations must react instantly to sudden demand changes on an increasing regularity in order to survive the rapidly changing market. It requires technology that can automate the operations and swiftly adapt them to necessary modifications.

Prompt Invoice processing

Rapid invoice processing, equipped with peer-to-peer architecture. All transactions are transparent between a payer and a payee, and money transfers can be done quickly and easily. A Blockchain-based system eliminates the need for lengthy delays because everything moves along much more quickly and securely.

Process of Blockchain supply chain development

Evaluating current case

Solutions Designing

Configuring the system

Progress and deployment

01 Evaluating current case

The initial step is to figure out, our client's expected vision to enhance supply chain management. We begin by formulating a use case, which is a concise but thorough explanation of the "points of application" for the blockchain and the objectives they want to accomplish. After that, we can specify the technical area of work and the on-chain and off-chain business entities.

02 Solutions Designing

In this phase, we evaluate and analyze the feasibility of expected requirements as mentioned by our clients in the prior step. On that basis, our app developers get an idea of what could be included and excluded from the technical perspective. And finally, we move to the next phase which is the assembling part with a fully functional system.

03 Configuring the system

Our experts ensure each role's -operational interfaces are specified. Subsequently, we create the application's in microservices architecture, blockchain nodes, and web and mobile editions. We believe in building long-term relations with our clients by providing prime service quality for every project and service we cater.

04 Progress and deployment

Here, we handle everything while sending you regular information on the deliverables' status. We can move forward with large deployment after successfully testing the solution and fixing any flaws in the pilot project. By integrating the blockchain into the remaining supply chain controls, the customer deploys it.

Blockchain Technologies we use for
Supply chain management

Our experts are fully certified and verified professionals with years of experience in blockchain supply chain development technologies as follows-

Hyperledger

Ethereum

Corda

Hedera Hashgraph

NEM

EOS

BigchainDB

Multichain

Industrial sectors we cater

At SPEQTO Technologies we provide the best customized smart contract solutions for various sectors of the industry which are as follows:

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FAQ(Frequently Asked Questions)

What kind of problems could be solved using blockchain in supply chain management?

SPEQTO have all solution to your supply chain management issues. There are many problems like- Lack of end-to-end visibility, inadequate supply chain risk management, and domino effect due to the extended value chain, fluctuation in demand, and cost addition by duplicacy these can be resolved by implementing blockchain in your supply chain management system.

Which blockchain technology is best for the supply chain system?

There are many blockchain technologies that may be used for the supply chain management system but users of Azure blockchain services could build intelligent, effective supply chains, lower fraud, and quickly validate transactions.

How does blockchain increase transparency?

Blockchain data is spread throughout a network of interconnected computer systems, increasing its security and decreasing the likelihood of unwanted data tampering. Blockchain keeps a complete record of all previous network transactions, allowing users to follow the data in full transparency.

How blockchain-based supply chain is adding value to your business?

Managing the supply chain can be extremely difficult for many businesses and hinder other internal procedures. However Blockchain technology, offers the potential to address severe flaws in chain traceability and surveillance. It improves efficiency in all aspects of the movement of commodities.

What are the barriers to adopting blockchain in supply chains?

The research findings show that the major barriers to the adoption of blockchain in supply chain management are "collaboration issues" and "hesitation and workforce obsolescence," while the primary hurdles are "lack of management vision" and "cultural differences among supply chain partners".

How does blockchain reduce transaction costs?

Due to numerous tariffs and taxes, transportation costs in the supply chain might occasionally become acute. Blockchain eliminates all middlemen, reducing this additional burden.