People in the process need to be able to see all of their data at once. They should still be able to check transactions privately and on their own. Solutions created with blockchain give today's supply chains the full visibility they need to see and...
The air cargo industry is one of the most important parts for transporting goods across large distances. Supply chains today are global networks made up of manufacturers, suppliers, logistics companies, and retailers. These groups work together to get goods to customers. As modern supply chains and the air cargo industry grow, they get more complicated and include more different types of goods. Usually, paper-based and separate data systems are used in the traditional approach. It is a problem across the whole industry that things cannot be tracked or seen clearly, which causes delays, mistakes, and higher costs.
People in the process need to be able to see all of their data at once. They should still be able to check transactions privately and on their own. Solutions created with blockchain give today's supply chains the full visibility they need to see and track the whole production process more efficiently and automatically. Learn more about the air cargo industry in Lars Winkelbauer's Customer-Centric Revolution in Air Cargo.
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What does Track and Trace mean?
"Track and trace" means finding all of a product's past and present locations, as well as a record of who has had custody of the product. It means keeping track of goods as they go from being raw materials to being sold in stores and to consumers. To make sure the product is real, it is important to keep track of its provenance along this journey.
It is hard in today's supply chains because of old paper methods and data systems that do not talk to each other well. It slows down communication. Lack of data compatibility can lead to many issues.
Blockchain and Traceability
Blockchain technology can be used to create systems that let many people deal with things transparently. It needs no central authority to oversee transactions. No single person owns the network. Everyone who is part of it has access to a shared ledger that records all transactions in a way that cannot be changed by anyone. It is also protected by cryptography.
The air cargo industry can use blockchain to record changes in a single shared ledger. This makes all data visible and provides a single source of truth. Since all transactions are time-stamped and up-to-date, businesses can always find out where a product is and what its status is. This helps to fight problems like fake goods, not following the rules, delays, and waste.
Additionally, quick action can be taken in emergencies, and the ledger audit trail makes sure that rules are followed. Systems can keep track of transportation conditions and quality control when they use blockchain with smart technologies like the Internet of Things. Companies can also share track and trace information with their customers to make sure the products they sell are real and that the supply chain is acting in an honest way. Read more about changes around the world at The Basics of Digital Transformation with Lars Winkelbauer.
