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In most cases, these companies are using blockchain as an aid to supply chain visibility and product tracing, but some have applied it as a tool to streamline transactions and speed up the flow of information, goods, and materials. It’s not that tracking and tracing tea through the supply chain is a new departure for the company.
Collectively, this new normal is presenting the supply chain industry with its biggest test in years. They invest in new technologies and data-driven processes that allow them to exercise precise control over the business. Reliance on manual processes and old-fashioned track and trace techniques is no longer enough.
A financial modelling exercise to quantify the potential cost savings of the usage of digital shipping documentation, namely the electronic bill of lading (eBL) showed that at a global economic growth rate of 2.4% Data the “new” gold, is in high demand all over the world and especially now in the shipping and freight industry.
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