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  • Essay / Using Blockchain in Supply Chain Management

    Most developing countries use the traditional supply chain to deliver food products or services from the supplier to the consumer. This paper presents a model for developing countries that will provide them with a smarter way of managing product, information as well as the flow of funds. This article also explores how to conclude contracts between parties in the food supply chain efficiently using the latest technologies; which will also help reduce the cost of the final product throughout the value chain system. While developed countries have already adopted and implemented the system, this research will serve as a valuable guide for implementing a smart food supply chain model that can be easily monitored and traced by farmers and consumers developing countries. Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”?Get the original essaySupply chain management (SCM) is the dynamic management of supply chain activities to maximize value of the consumer and obtain a lasting litigation advantage. This represents a perceived effort by supply chain companies to acquire and direct supply chains as effectively and efficiently as possible. A supply chain is a global interface used to transfer products and services from raw materials to end customers through a system of information issuance, dynamic sharing and cash. A basic supply chain is made up of these elements. The seller is a supplier who provides goods and services or a person or organization with whom the buyer does business. His general term in a market is a sailor. The supplier provides materials energy services or components. a producer who takes components from the seller to produce finished products and services. The customer is the one who takes the finished product, that is, the one that is ready to be taken. To gain competitive advantage, a company ends up passing on more value at or below cost. Value chain analysis is the technique for identifying the critical path to intensify customer value while reducing costs. The overall goal of value chain analysis is to classify areas and activities that will benefit from change aimed at increasing profitability and efficiency. Value chain analysis is more than just cost-benefit design. It develops the origins of economies of scale and volume. Agriculture is a concise digitalized business. Agriculture got many internet interests wrong the first time, simply because of a lack of connectivity and we are truly confirmed that agriculture will not fail again. Agricultural supply chains are surprisingly complex. With its approach from a long history in agriculture, our creators were able early on to see the impact blockchain could have, especially when we think of agriculture as a supply chain or a value chain rather than as a weird individual business. [1] Blockchain also allows producers to make healthier, more informed decisions about where to sell their products. The proposed model for the agricultural supply chain is fully digitalized and intelligent and based on the latest technologies alreadyput into practice in developed countries. . Blockchain is the newest concept in supply chain management and the model will use this concept to make the food supply chain from supplier to consumer smarter. We call it SFSC (Smart Food Supply Chain) based on Blockchain; when two supply chains meet, it will create a blockchain. To require precise information, specific registration is necessary so that everyone can have a clear idea about this good and this service, this would be possible. Blockchain is related to bitcoin or it is called cryptocurrency, originally it had made for financial transaction purpose, but now it is reshaping itself in the business world only in a supply chain. A blockchain transaction takes place between user and user. So when there is a transaction, the data is listed in a shared block and these blocks are combined to create a blockchain like a shared Google document. Transaction efficiency is promoted by the fact that consensus reveals correctness. In a blockchain database, each associate or junction keeps a copy of the shared entries and every action on the blockchain was recorded in the computer system which showed who the parties are doing, as well as transaction specifications and time spent, each comprising a different mathematical basis. encrypted signature. This digital signature is a key because it securely attaches an individual block of information to all others. it is a system of transparency and total connectivity that provides the blockchain with its assurance and reliability, this attachment presents an audit trail of every transaction that has taken place in a system. So there was an unofficial change that each node notified, and we can see where it studied place, they would then correspond to appreciate the evolution as factual or renounced. Today in a supply chain the data is stored in cradles like Microsoft word share file, but the blockchain data will be deposited publicly in a shared database, using one can know the sequence history of a product. There is no plausibility in cheating because everyone has used the following system. The blockchain debacle will not appear overnight. But it is necessary to change your life like a wheel, an electrical appliance or the Internet. Blockchain is a new interface that will help us decentralize our activities and allow us to immediately carry out many more peer-to-peer transactions. our use of intermediaries such as companies or banks. From the farmer's field to the consumer's plate, every time a commodity changes hands. This time the transaction could be documented, data can be formed permanently from production to sale. But sometimes it took longer and cost more. If you embrace technology, then it is possible to get everything on time. To solve the problems of agro-industry, an application has recently been developed in our country. Through this application, farmers can solve all problems without going anywhere. If there is an opportunity to add some features such that farmers could interact with the supplier, manufacturer and other parties, it can also be possible if the supply chain management can be linked with the technology of blockchain which will add more value and create a transparent relationship between all parties. Agribusiness experts suggest using blockchain as farmers).