Optimizing Supply Chain Management with Blockchain and Machine Learning Integration
摘要
Supply chain management is the process of maintaining a product form raw material stage to Distribution stage which involves Delivering products to consumers. Blockchain is digital ledger technology in which it consists of the transactions where they are stored in the form of blocks, Machine learning helps to analyse the risk or future demand by making predictive analysis which is necessary in supply chain management. By integrating Blockchain and Machine learning is crucial to enhance efficiency, transparency, and reliability because Every transaction and movement of goods can be recorded on a blockchain. This ensures that all participants in the supply chain have a transparent view of the processes, reducing fraud and errors. ML can analyse over a period of historic data and predict which products will be in high demand in the future, allowing businesses to prepare accordingly. Overall, by leveraging the strengths of both technologies, supply chains can become more efficient, transparent, and resilient.