Supply chain costs in Western Europe are witnessing meteoric rise with a convoluted network of suppliers, customers, retailers, and product manufacturers across the globe, and a recent study shows that these costs can come down drastically if the sector embraces blockchain. The new-age supply chain involves highly tricky tasks such as sourcing, procuring, coordination, and distribution. Given the multitude of stakeholders involved, data sharing and management becomes extremely critical. Because blockchain provides a novel platform to register and store records, it can be used to address some of the most urgent issues concerning the sector. Blockchain can axe supply chain
