Nowadays, the market competition is becoming more and more fierce, which leads to a challenging competitive environment. In order to adapt to this dynamic environment, the supply chain is increasingly dependent on cooperation, integration, flexibility and trust between recipients. Therefore, the application of new technology in supply chain is becoming more and more important.

In order to improve the process control of supply chain, Maoqiu Technology believes that modern professional application must be implemented. Blockchain technology has become a necessary part of today's competitive environment. For the company, it should invest in blockchain technology to quickly respond to changing market conditions and demands in today's dynamic business environment.

According to the paper published by MDPI, blockchain solves the two main problems of traceability and irreversibility of transactions in the supply chain, which can effectively improve the transparency of the supply chain. As a point that all stakeholders in the supply chain attach importance to, transparency can ensure that product information can be viewed and obtained in time, which will lead to information delay and corresponding losses.

The transparency of supply chain is mainly based on the movement information of products in supply chain. If the company wants to maintain the ability to actively communicate with stakeholders in order to gain the right of visibility and traceability of supply chain operation, it can ensure the visibility and accessibility of products, services, financing and information flowing from manufacturers to customers.

In the above way, feedback from stakeholders can be included in the blockchain to improve the performance of the supply chain. In addition, the history of products can be tracked throughout the supply chain, and pictures of current activities can be clearly displayed. Companies can reduce the uncertainty of open market by clarifying their core values, so as to face environmental or social problems through transparency.

Many stakeholders have high hopes for blockchain because it has the ability of real-time information enjoyment, security, tamper resistance and transparency. Blockchain can improve the transparency of supply chain through workload proof and distributed database structure, and use real-time distributed data to enable stakeholders to identify data related to product quality, location, transactions and procedures.

These functions of blockchain make product tracking possible, allow comprehensive product verification and product authorization during the whole transaction process, and provide end-to-end audit according to the authority of the whole organization. Blockchain reduces the opportunistic behavior of trading partners in information tampering, corruption and fraud.

Therefore, blockchain provides transparency for transactions between trading partners, thus increasing trust. By developing effective strategic planning tools, blockchain strengthens the relationship among suppliers, customers, outsourcing, 3PL and subcontractors, making the supply chain more efficient and transparent.

Blockchain technology can help build trust and reputation by bringing transparency to the supply chain. Large-scale blockchain solutions can completely redesign the reputation management of the entire network and detect fraud. Blockchain provides a solid foundation for the unification of views and the ability to achieve higher transparency. Establishing a decentralized supply chain based on blockchain technology in the supply chain is obviously more efficient and transparent than centralized supply chain.

With the wide distribution of supply, the risk of conflict, mismatch and inconsistency in traditional supply chain increases. Blockchain can achieve better tracking and reporting, improve the transparency of supply chain processes, and thus improve the delivery schedule. For example, GPS-based vehicle tracking devices can be used with blockchains to provide data that cannot be covered and tampered with. When it comes to logistics vehicle tracking, it can reduce costs and improve efficiency.

Contemporary supply chain is more complex, dynamic and uncertain than before, because it involves many departments. Therefore, the establishment of flexible supply chain is the key to obtain sustainable competitive advantage. A flexible supply chain can improve the delivery process and deliver products to the required market quickly.

Business transactions are becoming more and more unstable and global. When the company can effectively cope with and adapt to the interruption of competitors and demand changes in the whole supply chain to meet the needs of customers, it realizes flexibility and enhances the competitiveness of the company.

The rapid development of economy and technology requires the internal (marketing and manufacturing) and external (supply and distribution) supply chains to be more flexible. Companies with flexible supply chains can respond faster under uncertain conditions and provide companies with the ability to display products and services quickly and effectively.

In the globalized world, competition has extended to the whole supply chain, not just companies. Therefore, supply chain members need to reorganize themselves and balance the organization's responsiveness to market changes by increasing flexibility.

In today's economic environment, companies outsource some business processes in order to ensure the flexibility of supply chain, which usually leads to the loss of control and visibility of various logistics operations. Because of the visibility of digital technology and integrated transportation and logistics system, it will be realized at all stages of goods delivery from manufacturer to end user. Companies need to enjoy information directly, so that it can be quickly applied to every company in the supply chain, thus improving the flexibility of the supply chain.

So this requires different information to ensure that the chain can run as a whole. Therefore, the information transferred from one organ to another should be helpful and can be used elsewhere in the chain.

Blockchain technology provides services to customers by promoting the tracking and tracing of all stages of order production to delivery and rapid adjustment. The application brought by blockchain technology can only be realized at specific contact points in the network if it is accepted by relevant parties, thus controlling the data security of all supply chain transactions.

Blockchain can improve the visibility of supply chain and realize real-time data sharing on the network. Therefore, blockchain can support the supply chain flexibility strategy by reducing the number of stakeholders affected by interruption.

At the same time, blockchain can quickly integrate all upstream processes, improve forecasting and management requirements, and thus achieve more realistic supply and inventory management.

Blockchain technology has become one of the most common concepts today. With digitalization becoming a common phenomenon, we have begun to digitize our assets.

Blockchain can improve the transparency and flexibility of supply chain, thus becoming an effective tool to build trust in supply chain. However, Maoqiu Technology also believes that the real realization of blockchain application in supply chain can not be separated from mutual trust among enterprises, thus forming an effective knowledge base, improving mutual cooperation ability and improving the operational efficiency of supply chain.