Have you heard that blockchain technology will revolutionize supply chain management?
I bet you do!
Supply chain management is one of the businesses operations that will be revolutionized by blockchain technology; this is through the elimination of vulnerabilities of supply chain pain points that includes authenticating businesses products and also tracking the movement of goods from the manufacturer to the consumer.
The primary beneficiaries of blockchain technology when it comes to supplying chain management optimization are small and medium enterprises (SMEs) that don't have the capacity and resources required to create and manage their supply chain management software. With the rise of small and medium enterprises which are the backbone of the modern economic environment a solution needed towards making supply chain management optimization in place that will benefit both SMEs and Customers who are demanding more information about the origin and authenticity of products.
Currently, SMEs can obtain this services from either company which has monopolized the industry and are charging a hefty price tag towards offering the full packages required, and this makes it possible for SMEs only to access necessary shipping logs and estimation.
TEMCO Project
One of the projects that are targeting this vast SMEs market is Transport Enterprise Merchandise Customer Organization (TEMCO), this innovative project is using blockchain technology and smart contracts towards empowering SMEs to improve their supply chain processes through modern technology.
SMEs will be able to optimize their processes and improve on products tracking and eliminate the vulnerabilities of the methods and also improve their supply chain management. TEMCO is a noble project that is solving a real-world problem, and the business environment will benefit from resources that will enhance the tracking and traceability of products which in turn lead to fewer counterfeit products.
TEMCO products are beneficial to SME businesses who have manufacturing capabilities, transport their products from their manufacturing warehouses to retailers, and would like to collect the data of the processes from their manufacturing offices to the end consumer. SMEs will be able to obtain this information from the TEMCO platform that will help in studying customer behaviors and trends; this will enable them to apply measures that and predictive processes that will improve their products delivery.
Supply Chain Challenges and TEMCO Blockchain Solutions
SMEs main challenges are the lack of resources and infrastructure to set-up a supply chain management process. This platforms that enable them to handle their records and be able to track the movement of their products on the supply chain, the current system which is centralized and commercialized by large enterprises with pricing packages that are only favoring big enterprises who have resources and infrastructure to set-up and manage their supply chain management processes and infrastructures.
SMEs facing this challenges are not able to tap on this resources towards improving their supply chain processes, this makes it hard for SMEs to track their products and record their movements. TEMCO is providing a solution to SMEs by empowering through the provision of tools required to set-up their supply chain management; the devices include the ability to place sensors and RFID tags.
SMEs will be able to use the resources provided by TEMCO project, and reduce the overall cost of moving their products across the supply chain. TEMCO platform uses the data collected during the movement of the products on the supply chain towards gaining a competitive advantage by optimizing the processes through the data collected during the campaign of goods on their supply chain.
With growing awareness of the consumers and the demand for authentic products by the market, using TEMCO technology will help SMEs establish trust with their customers, through the use of TEMCO supply chain platform SMEs will be able to make use of immutable records that will enable the adhere to factory standards and prevent tampering of the supply chain processes.
TEMCO Project Supply Chain Management with Blockchain Use Cases
Let's consider counterfeiting as the common problem of the current pharmaceutical manufacturing industry; this is an industry that is profoundly affected by counterfeit drugs. The complex nature of tracking drugs is very involved on the current supply chain management processes considering the centralized quality of traditional supply chain management processes, a solution is needed, and TEMCO is leading the supply chain management industry through provisions of resources and infrastructure through modern technology to tap on the industrialized nature of blockchain technology.
Pharmaceutical Manufacturers will be able to track their drugs through the supply chain to limit the number of counterfeit products in the market; this will eliminate the vulnerabilities by tracking and authenticating their products throughout the supply chain management processes using decentralized technology. Drugs tagged through the use of sensors and RFID tags and their records recorded on TEMCO Immutable drugs records available in real time throughout the supply chain.
Conclusion
TEMCO is a revolutionary product that will revolutionize the supply chain management processes by empowering SMEs who are their primary target users. SMEs will benefit from the resources and infrastructure provided by TEMCO. The use cases of TEMCO project products are well spread across all industries and with the help of decentralized nature of blockchain technology. TEMCO will be able to offer and empower SMEs through an operational supply chain management platform that can handle micro products tracking and also improve supply chain processes through blockchain technology permanent records in order improve SMEs end to end movements of products and enhance the transparency of supply chain processes.
| CONTENT | LINKS |
|---|---|
| Website: | https://temco.io/#/ |
| Whitepaper: | https://temco.io/templates/temco_whitepaper_en.pdf |
| Telegram: | http://t.me/HITEMCO |
| Facebook: | https://www.facebook.com/TEMCOLABS |
| Twitter: | https://twitter.com/@TEMCOLABS |
Author: jamesndungu1
BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1856049
Ethereum Address: 0x8e8a5b6e2abf1bb64759bdd4dbe788f45b1d4f54
All Images credited to TEMCO Official Website
