The existing businesses spend quite a large amount of money on inventory management. Not to mention at a different point in time, controlling the costs related to logistics operation is very difficult, especially during the new normal period.

The cost for a container operation via 8 main roads has increased by 360% since 2020.

                                                              (According to CNN Business)

In addition, enterprises faced rapid increases in the cost of storage - influenced caused by rapid increases in construction costs and huge investments in robots to automate storage.

Such context raises demand for the use of technology or tools to reduce the cost of storage, for example, blockchain.

To get a better view of the benefits of the technology for stock management, the same Meksmart study in the content today.

How does blockchain solve logistics problems?

Logistics operators are hampered by a lack of transparency, and science in data as well as outdated document management methods. Blockchain is born, besides the benefits of other industries, helping to help address logistics difficulties.

Lack of transparency and clarity

As you may know, businesses often have a chain blind spot due to the complexity of the logistics system. Therefore, businesses are often struggling to search for products at any time.

As you may know, businesses often have a chain blind spot due to the complexity of the logistics system. Therefore, businesses are often struggling to search for products at any time.

Due to a lack of transparency and clarity, the enterprise often difficult to detect defects in performance. The lack of real-time monitoring results in making business difficult to plan, and use effective assets.

The blockchain helps solve problems by providing a tracking device with real-time products for businesses.

At the same time, this advanced technology also allows the storage of information and data on a ledger that is potentially anti-counterfeiting. This ledger can be shared with stakeholders who have been licensed, thereby cutting the administration process.

Outdated paper system

Thanks to the transformation of data from paper to the blockchain, the enterprise can share the system with information and data safely using the blockchain without fear of impersonation or attacks.

In addition, the technology also allows enterprises to use smart contracts to convert payment methods and signatures to digital forms.

Benefits for warehouse

In addition to the benefits of logistics, the blockchain also offers advantages to the management of warehouses as follows.

Manual reduction

Businesses operating the blockchain use blockchain to automate inventory of goods such as drones to count inventories of inventory or robots.

Smart warehouses based on Blockchain technology can have outstanding automation capabilities. This technology improves the ability to reserve, select / package goods, and add as the entire dossier or contract is digitized.

Improve the inventory management operating system

Blockchain helps businesses to track products in the correct warehouse at any given time. Besides, technology also allows them to know the need for real-time user-user needs. Since then, the business can take appropriate actions to help manage the goods better. Blockchain helps administrators get more timely and timely decisions.

Epilogue

It is possible to see the benefits of blockchain in the management of smart goods. This technology helps cut the costs, time of the warehouse, and logistics.
In addition, the blockchain also helps optimize performance and supports the management of the right inventory and time management.