25/07/2020
Supply chain auditing is an essential practice for businesses who seek to prevent breakdowns before they occur. In order to streamline supply chain processes to create sustainability and savings, clear systems for auditing are absolutely necessary. Determining the approach to and scope of an audit can be daunting, and strategic mistakes can prove costly.
While any good audit depends heavily on the auditor himself, effectively probing and examining a supply chain requires the proper tools to do so. The blockchain platform is interoperable, and if applied to all participants in a supply chain, can give a clear view into where inefficiencies lie while maintaining pseudo-anonymity for each account. This combination of accessibility, transparency, and reasonably anonymity allows auditors to do their jobs in a cost-effective, comprehensive manner, and the blockchain platform can serve as just the tool to identify and resurrect inefficiencies without disrupting the flow of daily supply chain processes. Ultimately, the blockchain platform can help supply chain auditors make more informed decisions about which suppliers to audit, where to focus auditing resources, and which recommendations to make based on the findings.