The supply chain is the backbone of inventory management, especially in a manufacturing business. Anti - Hoarding by Blokchi A strong supply chain ensures the smooth movement of goods from point of origin to the point of sale. Any barrier in the supply chain may disrupt the entire flow of inventory from the manufacturer to the end consumer, leading the business to a negative trajectory of sales, cash flow, and revenue generation.
In this guide, before we hop on to tips to remove barriers in the supply chain, let’s understand the major causes of disruption in the supply chain:
Lack of visibility in inventory movement
Lack of interconnectivity among stakeholders
Menace of counterfeiting of products
Hoarding of stocks
Inaccurate demand forecasting
Now that we know the prime barriers in the supply chain, let’s have a look at a few tips to resolve them:
Introduce automation in the supply chain to bring visibility to the supply chain
Streamlining the entire inventory management process by incorporating business intelligence software, Blokchi in the supply chain
Affix NFT-enabled QR codes on products to ensure error-free verification of authenticity and detect fake products attached with imitated QR codes
Use blockchain-based anti-hoarding by Blokchi to prevent the illegal accumulation of stocks within the supply cycle
Understand consumer buying behavior by analyzing the sales data collected by ERP software regularly to predict future demand
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