It’s necessary that enterprises are able to keep track with the ever-changing conditions in the industry, for securing effective cooperation across supply chains. This cooperation must be based on trust and transparency, because B2B transactions have a significant potential to disrupt daily enterprises functioning.

With the rightly mixed combination of technologies like analytics, artificial intelligence and blockchain, data can be used as foundation for detecting disproportions in supply chain and subsequently, a suitable operation with the objective of correcting the state can take place as well. AI is here used to detect anomalies and combined with blockchain, offers users transparency of all transactions and a precise overview in real time.

What do these technologies bring specifically?

Enterprises have a system that, for example, provides information about all delayed orders and thanks to that, they are able to prevent potential problems. This solution also offers the possibility to predict numerous variables and probabilities that could occur.

Transparency using blockchain

Thanks to blockchain, there is only one version of a safe and shared reality for B2B transactions. Maximum trust and transparency within the partner ecosystem might be strengthened by access to blockchain only upon invitation which enables partners to maintain control of who has access to the shared data.

Blockchain allows creating a secure and stable relationship among the subscriber, supplier and carriers, with access to needed data. Thanks to the existence of a single version of transaction data entry, all of them have the same information, meaning the space for potential misunderstanding and conflicts is minimized.

Elimination of blind spots within supply chains is conclusively beneficial for all participants of business transactions. And the current situation related to the COVID-19 pandemic has shown that there are lots of blind spots and shortcomings within supply chains.