In our most recent LinkedIn poll, B2BE asked our social media followers how they would describe their current relationship with blockchain as a way of managing their supply chains.
What is blockchain?
Blockchain is a system that records transactions made in cryptocurrency, supported across multiple computers linked in a peer-to-peer network. The technology allows companies to document production updates to one shared ledger, supplying complete visibility from a single source. Because transactions are always time-stamped and current, companies can query product statuses and location at any point. Blockchain can improve supply chains by facilitating faster and more efficient delivery, enhancing traceability, improving partners’ coordination, and aiding financing access.
Blockchain and the supply chain: what we found
The results to this week’s online poll were as follows:
- Of those asked, the highest number, 57%, said that they were not using blockchain yet, but that they were interested in doing so going forward.
The next three options all received the same number of votes, 14%, and are ordered by descending enthusiasm about using blockchain in supply chain management.
- The first 14% of the respondents said that yes, they were already using blockchain as a key part of their businesses’ supply chain management strategy.
- Another 14% of the respondents answered that they were not yet using blockchain in their supply chains, but that they were already actively pursuing it.
- Finally, the last 14% said no, that they were not currently using blockchain and that they were not planning to do so in the future.
From this poll, we can discern that, although a relatively small 14% of respondents are using blockchain as part of their supply chain management strategy, an overwhelming majority, 86%, suggest, at least, an interest and an openness to incorporating it with a combined 28% either currently using or pursuing it.
B2BE’s experience in the supply chain sector allows our customers to build, expand and adapt successfully, enabling greater effectiveness. To engage with B2BE and offer feedback on what matters most to you and your business, make sure to follow us on LinkedIn and across social media. You can also vote on our latest LinkedIn poll. If you’d like to discuss your supply chain strategy, including blockchain, get in touch with us.