According to the World Economic Forum, there are nine key requirements that organizations typically need to address for any new enterprise solution. In this series of articles, will be talking about how QuillTrace can help address each of these requirements, through its extensive suite of features and will be starting by highlighting how QuillTrace can address four of these requirements.
Why QuillTrace for enterprises
QuillTrace is a blockchain-based supply chain management solution that aims to lead the next generation of digital commerce. QuillTrace provides an extensive and customizable suite of features, which can empower today’s complex supply chains. According to the World Economic Forum, there are nine key requirements that organizations typically need to address for any new enterprise solution. In this series of articles, will be talking about how QuillTrace can help address each of these requirements, through its extensive suite of features.
We will be starting by highlighting how QuillTrace can address four of these requirements.
Transparency
In a modern supply chain, transparency is key. Stakeholders need minute-by-minute updates. Customers, too put their trust in products they can trace. QuillTrace provides a vast array of features that can help make this a reality.
For instance, the very fact that QuillTrace leverages a blockchain-based platform ensures that it is secure and transparent. A blockchain network is decentralized and immutable. This means that no central authority can exercise complete control over it. Moreover, data on a blockchain can never be deleted. It can only be modified, and that too in a completely transparent manner. So, every stakeholder — right from the producer to the customer can rest assured that the product they are invested in, retains its integrity.
Moreover, customers today are impatient, and rightly so. Instantaneous updates and data-driven processes are the norms. QuillTrace’s Live Feed feature ensures that every stakeholder in the supply chain can see an up-to-date, real-time feed of their product’s history. This, coupled with the Real-Time Auditing feature can make sure that products are audited at each step of the supply chain, ensuring quick and painless recalls if the need arises. Last, but not the least, QuillTrace provides a mechanism that allows manufacturers, retailers, and suppliers to rate logistics provider(s), thereby ensuring maximum transparency in the supply chain.
However, in a competitive enterprise world, concerns regarding the protection of intellectual property and sensitive data haunt every organization. QuillTrace provides an extensive set of security measures to secure sensitive information. More on this in the upcoming articles in this series.
Interoperability
To take the next leaps with blockchain technology, interoperability between the chains and integrity of data should be top priorities.
Jan Scheele, Chief Executive Officer, Bitcanna
Modern enterprise software lives and breathes on interoperability. Systems must be able to communicate with each other through secure and reliable channels. QuillTrace ensures clients are able to easily plug into their existing ERP (Enterprise Resource Planning) systems with ease. This is done in two ways. Firstly, QuillTrace is completely blockchain agnostic. Customers have the choice and independence to choose their preferred blockchain technology. They can opt for Ethereum to leverage it’s smart contract abilities or Hyperledger for its permissioned blockchain. Customers can also choose other major platforms like Quorum or EOS.
Secondly, QuillTrace provides an easy to use API (Application Programming Interface). With the extensive and easy to use documentation that QuillTrace provides, customers can connect their existing platforms with QuillTrace in an easy and safe manner.
These are just some of the ways in which we are trying to solve the modern enterprise equation using QuillTrace. I will talk more about QuillTrace’s features and how they can help improve the modern supply chain in future posts.
Get to know more about QuillTrace
QuillTrace is a blockchain solution developed by QuillHash with the mission to optimize the supply chain using AI and IoT. With the vision of improving consumer experience and producer business growth, QuillTrace offers some really up to the mark features like real-time traceability, transparency, and much more. Given below are the links to the articles which may give you more clarity on supply chain management with blockchain:
How enhanced supply chain visibility leads to more revenue
Public or Private Blockchain – best for your Supply Chain?
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