Build a Secure and Traceable Blockchain Based Supply Chain System
By Suffescom Solutions
April 18, 2024
Ready to build a flexible, clear, and trustworthy blockchain-based supply chain system for your business? If yes, it's worth reading a blog for you.
Blockchain supply chains have the potential to fix issues quickly while maintaining a steady relationship with customers. You can also leverage the enhanced transparency, scalability, security, and other features that transform your supply chain ecosystem. Custom blockchain solutions add new values to the supply chain regarding lack of interoperability and inconsistent data.
Planning to develop a blockchain supply chain system with experts? Suffescom Solutions is a perfect choice for all your needs. From blockchain consulting to platform designing, developing, and testing, we have everything under one roof. We have a 750+ blockchain dedicated team to deliver every industry and every technology solution. We have already developed 50+ blockchain-based projects such as NFT marketplaces, customized cryptocurrency wallets, play-to-earn, and more.
Find your reason for choosing a blockchain supply chain for your business.
Do you want a Live Tracking system on your platform?
Are you looking for an Enriched Trading experience?
Are you fed up with slow Speed supply Processing?
What’s your business aim? Enhanced Traceability or else?
Are you looking for a Huge Return On Investment?
Do you want to build a Healthy Relationship With Consumers?
If these are your business concerns, then the blockchain supply chain system is a fantastic example for you.
Blockchain Supply Chain Trends: Shaping the Future of Logistics and Transparency
Blockchain-based supply chain global market reached $253 million in 2020.
In 2026, it is expected to reach $3.272 million by 2026 at a CAGR of 53.2%
In terms of revenue, the global blockchain technology market size was valued at around USD 3.3 billion in 2021 and is projected to reach USD 60 billion by 2028.
Today, small & medium enterprises and large enterprises are leading the largest market segments.
Perks Of Choosing Blockchain For Supply Chain
1. Secure Interactions
Shipment tracking is one of the major concerns for delivery companies or delivery channels. Everyone wants a safe and reliable source that has the fastest delivery. Blockchain in the supply chain provides permission access rights to specific individuals only and helps to secure the whole transaction.
2. Fair Trading
Blockchain technology verifies the end-to-end transaction. Everything is recorded in a blockchain that is hard to counterfeit from the point of origin to material, manufacturing, and more. Hence, it leads to ethical trade with the protection of human rights.
3. Resilient Supply Chain
Supply chains are restricted by one-up visibility. However, the blockchain supply chain offers a single and shared version of the truth and provides visibility at every step.
4. Improved Customer-Retailer Relationship
The customer is a King. Improving business relationships with customers boosts business reputations. Protecting customer data from cybercriminals is one of the major concerns for every business. For this, blockchain technology in the supply chain helps to deal smoothly.
5. Improved Inventory Management
Whether you are choosing public or private blockchain technology, both help you to win over inventory management scenarios. One can quickly find goods in stock, in transit, and with users at one tap.
6. Eliminate Manual Errors And Frauds
When data or records are entered by humans, it boosts the chances of fraud and errors at the time of delivery. Whereas when data is managed digitally with smart contracts, those risks can be minimized easily.
Launch Best-In-Industry Blockchain Powered Supply Chain Management System
Launch your industry-leading supplychain management system powered by blockchain technology. Benefit from enhanced transparency, security, and efficiency while staying ahead in the competitive supply chain landscape.
Blockchain Development Solutions for Various Supply Chain
Blockchain In Manufacturing Supply Chain
We design and develop blockchain-based supply chains for manufacturing industries that facilitate details during the transfer and transformation from raw material to finished products.
Blockchain In Logistic Supply Chain
Under the logistic supply chain, we ensure secure data protection from storage to shipment of goods and services while maintaining good efficiency during transit.
Blockchain In Food Supply Chain
To ensure food quality and safe delivery, we ensure the right people should be employed to deliver food. It avoids food-borne diseases and contamination etc.
Blockchain In Agriculture Supply Chain
Our trustworthy blockchain-powered supply chain system ensures a possible way to track the time of production to delivery that generates trust between different players and keeps them updated on the crop status.
Blockchain In Pharmaceuticals Supply Chain
It ensures a safe and reliable system through which prescription medicines are manufactured and delivered to patients.
Industries We Focus
We focus on various industries, from startups to enterprise grades. Check out our list and find your industry. If you found your company is not listed here, contact our business experts;
Health Care
Food
Retail
Manufacturing
Agriculture
Ecommerce
Automotive
Energy
Key Features of Our Blockchain Supply Chain Solution
Automated Recordkeeping
All transactions between supply chain participants have connected automatically to a distributed ledger that helps to manage ERPs and IoT systems records effectively.
Supply Chain Tracking And Tracing
Our designed distributed ledger system enables quick tracking of orders, payments, goods in transportation, manufacturing workflow, and other details on a real-time basis.
Smart Contract-Enabled Automation
The smart contract enables rules-based transactions, i.e., users can enforce particular transactions based on predefined conditions only. Otherwise, the system won’t process any transaction, from making payments to checking goods in transportation.
Supplier Data Verification
Blockchain has the capabilities to identify suppliers' data and verify trusted parties such as credit rating agencies. Also, it provides an immutable audit trail experience for information updates.
Supply Chain Objects Registration
Blockchain enables seamless tracking of information and products while in transit. It involves batch onboarding of products, locations, and other documentation according to GS1 Standards that help to maintain records.
Full Audit Trail For Supply Chain Documents
Blockchain records every piece of product documentation, such as purchase orders, sale orders, invoice bills, product certificates, product control reports, and more, with essential documentation.
Hashing And Time-Stamping
Blockchain automatically generates a hash value using a unique cryptographic identifier. If the chain data in one block changes, the hash value of the rest of things also gets changed and making the data tamper-proof.
Transaction e-signing
E-signing feature of the transactions with unique digital signature submit smart contract transactions and prove its ownership.
Security
Data in blockchain technology is affected by authentication, data encryption, fraud detection, algorithm, and permission-based control.
Build Your Own Blockchain Supply Chain Platform With Us
Looking for blockchain supply chain development company, then no look further away from Suffescom Solutions Inc. Our expert team will help you building a blockchain supply chain platform according to your needs.
Our Custom Blockchain Supply Chain Development Services Includes
Our experts have proven experience to leverage the mix of blockchain technology, AI, IoT, and machine learning that helps every enterprise. Our system introduces transparency, reliability, and trust to every transaction & participant.
Audit
We introduce a logistic process system that helps to find reasons, actions, and reactions in your system.
Define Touchpoints
We aim to touch every segment of your business that helps you to flourish and sets benchmarks in existing infrastructure.
In-depth Technical Evaluation
Before delivering a project, our experts conduct an in-depth technical evaluation of your system by accessing different supply chain information nodes.
Blockchain Setup
We ensure a complete set of mechanisms that govern users' permission to view and write information and conduct transactions in blockchain technology.
Device Programming
As the key players of the Supply chain management system are devices, therefore we build an effective tracking and tracing system for clients.
Serialization
We ensure every transaction recorded in the system involves non-sequential, non-repeatable, and bears a unique identity for effective tracking.
Ensuring The Fast Speed
Using multiple blockchain networking, we ensure the fastest transaction speed on your system.
Organizing The Identification Process
We include QR Codes, 2D barcodes, and NFC or RFID systems for quick process identification.
Scalability
Our blockchain developers make sure proper cloud infrastructure should be set up for smooth functioning.
Blockchain Supply Chain Development Process
We follow a simple and straightforward blockchain supply chain management development process. Check out with us;
Defining The Use Case
We begin by formulating a use case with a detailed description - of your business purpose and aim to develop a solution. Then we decide on technical requirements and scope of work. We solely focus on improving your business performance.
Identifying Roles And Responsibilities
We access every user's roles and responsibilities to the project. Then we assign their position and level of access to the system.
Designing The System
We design the working interface of each person or user. Then we look after micro services, blockchain nodes, and web & mobile versions.
Development and Deployment
We carry out work-in-progress while carrying out all the updates and deliverables. Our testing team also conducts bugs, performance, and another testing before the major deployment.
Technology and Tools We Use for Blockchain Supply Chain Management Solution Development
Technology Stack
Ethereum/Solidity
NodeJS
Golang
Hyperledger Fabric
ReactJS
Angular
Binance Smart Chain
Compliances and Industry Standards
ST-20
ERC-20
ERC-721
AML
KYC
GDPR
PSI DSS
PSD2
Costing for Blockchain Supply Chain Development
The cost of developing blockchain-based supply chain management software solution greatly depends on;
Type of blockchain network used such as private, consortium, or hybrid.
The complexity of solution functionalities and smart contracts.
Number of mobile and web application solutions requires and their level of complexities such as (e.g., suppliers, manufacturers, retailers, consumers)
Blockchain supply chain solution performance, scalability, and security requirements.
Deliverable including PoC, MVP, a full-scale solution.
From our experience, the Blockchain development cost will be around $70,000–$140,000. With the add-on features and private networks, it will be $400,000–$1,500,000+ in investments.
How Can Run Supply Chain Business On Blockchains?
Running a supply chain business on blockchains involves integrating blockchain technology for transparent, secure, and efficient record-keeping, traceability, and smart contract automation. This ensures trust, reduces fraud, and streamlines operations. Our expert will help you in creating a platform according to your business needs and goals.
Choose Us For Bespoke Blockchain Supply Chain Development Solutions
When it's about timing, a customized blockchain supply chain management software can take 12-15 months, depending on your business requirements.
Here we have some reasons supporting why industry leaders consider us a top blockchain supply chain development company.
Top Blockchain Consulting Company
We are recognized as a top blockchain consulting company due to our exceptional expertise, a proven track record of successful projects across diverse industries, innovative solutions, high client satisfaction, adaptability to regulatory standards, unwavering commitment to security, strong reputation, thought leadership, and a global presence.
Partnership With World-class Companies
Our blockchain expertise is proven by our clients' portfolios, including Universal, The Mario Blockchain, My Rare Collections, and more that trust our services.
50+ Blockchain Projects Delivered
With a team of 750 global employees, we have delivered 50+ blockchain-based projects. You can check out our case studies to know more about us and our working style.
Supply Chain Tech Gurus
We build a comprehensive network with complex GPS, LPWAN, RFID, and other transmitting devices to form a high-speed supply chain system.
Solution for every sector/industry
We have the expertise to craft solutions for every sector and industry, such as startups, NGOs, Govt organizations, and Mid Scale enterprises.