28 March 18
Supply Chain Inefficiencies In Emerging Markets: Is Blockchain The Answer?
By Max Ward, CEO and Founder of OpenPort
Emerging markets represent the largest growth centers across multiple industries, particularly within supply chain distribution and management services. Figures from the latest Agility Emerging Markets Index suggest that industry executives expect emerging markets to grow this year at the quickest rate since 2013. This growing sentiment is reinforced by the rapid sales growth we are witnessing in countries like India, China, and Indonesia.
However, the resulting increases in domestic manufacturing and distribution are straining supply chains already operating on thin margins. In addition to this, a lack of trust and transparency causes shippers, transporters, and retailers to adopt guarded business practices.
A major challenge for these supply chain players is the issue of cash flow, which involves thousands of invoices and payments reliant on a paper-based system of record keeping. Managing the risk of cash flow tied to supply chains has become a crucial task for many cash-stressed businesses, with the smallest players – the owner-operators of trucking assets – enduring most of the weight."
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