Development of improved supply chain management platforms

Assignment Help Supply Chain Management

Reference no: EM133215004

Assignment:

Can you reword/rephrase the following paraphrases. (Please keep them in paragraph form) Thank you so much!

The emergence of e-commerce and the development of improved supply chain management platforms have increased consumer engagement in the manufacturing process. This is because an e-commerce platform allows the company and the customer to communicate at a low cost and in real-time. The company may also trace a consumer who acquired his products to ensure that they are adequately supervised when acquiring them. Customers are more likely to trade back with companies as a result of the integration of consumer supply chain management systems than in the past.

Blockchain is a distributed or decentralized digital civic leader that is utilized in connection recording across several processors, such that records included cannot be edited retrospectively without affecting other following data. Furthermore, blockchain has shown to be highly inventive. Since the development of the computer, technology has advanced significantly.

Blockchain technology has recently resulted in several information technology advances due to the preservation of intellectual property rights and the copying of other people's papers or data. Originally intended to be used only for the cryptocurrency Bitcoin, as technology advanced, it became clear that block chai could be used for a variety of other purposes: "block shake is an incorruptible digital economic transaction logger, which can be programmed not only to record financial transactions but all valuables" (Don & Tapscott, 2016).

Because a computer system approach includes all nodes, both formal and informal networks may be protected against external intrusion. Some data must be accessible in the system for blockchain technology to be deployed and safety at the top nodes to be given. To store this information, a database, also known as a data set, can be used and built using a variety of technologies, including Oracle and MySQL. The primary function of both is to save specific bits of data; however, blockchain deals with a single central server, whereas blockchain preserves information for a big number of individuals and in a broad range of locations, such as every nation, and Bitcoin works with a single central server. They vary, though, since records are decentralized whereas servers are centralized. Of course, this can only be accomplished if there is a well-connected network of servers linked by nodes that consumers or computer owners may easily access. The close link between the nodes kept the blockchain secure and the data stored protected from tampering.

The future success of blockchain technology in streamlining many operations appears promising, especially in light of recent technical developments. Ironically, the technology blockchain has played a significant role in the transformation of industries throughout the world, even though it was not even one of the declared goals of the concept at the time of its introduction and was primarily developed as a result of the financial crisis (Nguyen, 2016). Supply chain administration, which has resulted in blockchain technology eliminating possible intermediaries that may only increase manufacturing costs while lowering net profit, is one of the key areas where blockchain technology has had a positive impact.

Financial services and healthcare are two other areas where blockchain technology has had a positive impact. Technology advancements have also benefited quality assurance teams tremendously. If the nodes in a supply chain are correctly integrated, mistakes may be avoided simply because the nodes can track the defect and know where it originated. This makes it much easier for businesses to investigate and take appropriate action as a result.

Reference no: EM133215004

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