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Blockchain in Supply Chain: Rethinking Transparency and Data Exchange

Published by IDC Product code 945346
Published Content info 12 Pages
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Blockchain in Supply Chain: Rethinking Transparency and Data Exchange
Published: June 22, 2020 Content info: 12 Pages
Description

This IDC Market Perspective examines how blockchain technology is applied in supply chain management. Blockchain is a natural fit for supply chains, and we look at current adoption rates in European enterprises, popular use cases, and the benefits of the technology. While blockchain in supply chains is gaining traction, it's still not widespread. This document discusses the challenges to greater adoption as well as steps that tech vendors can take to mitigate them."Companies and practitioners are starting to recognize the potential of blockchain to solve many of the challenges of modern supply chains: effortless linking of multiple stakeholders, providing a single source of truth, removing data silos, and boosting security and transparency," said Radoslav Dragov, IDC's European Blockchain Practice Lead.

Table of Contents
Product Code: EUR145774420

Executive Snapshot

New Market Developments and Dynamics

  • Introduction
  • Setting the Scene: Multiple Problems Afflict Modern Supply Chains
  • Rewiring Supply Chains: Benefits of Applying Blockchain
    • Increasing Efficiency and Reducing Costs
    • Establishing Trust
    • Strengthening Traceability
    • Digital Agreements and Document Sharing
  • Room for Growth: Blockchain Application in Supply Chains in Europe
  • Break in the Chain: Main Challenges to Blockchain Adoption in Supply Chains
    • Overhauling Supply Chains While in Operation
      • Getting Partners Onboard
      • Lack of Settled Standards
      • Upfront Costs
  • Bright Spots: Industries Where Blockchain for Supply Chain has Seen Traction
    • Blockchain in Pharma Supply Chain
      • European Example of Blockchain in Pharma Supply Chain
    • Blockchain in Food Supply Chain
      • European Example of Blockchain in Food Supply Chain
    • Blockchain in Automotive Supply Chain
      • European Example of Blockchain in Automotive Supply Chain
    • Blockchain for Container Shipping
      • Example of Blockchain for Container Shipping

Advice for Tech Suppliers

  • Engage the Most Important Link in a Supply Chain
  • Pick the Lowest-Hanging Fruit
  • Make Blockchain Adoption Easy and Quick for Enterprises
  • In Messaging Mix the Practical with the Aspirational
  • EU Institutions and Initiatives can Provide Support

Learn More

  • Related Research
  • Synopsis
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