BlockLock is a fully developed solution that empowers suppliers, clients, and business partners to create, negotiate and sign contracts, make and fulfill orders, track shipments, complete transactions and trace components through the supply chain using a single software interface.
The real power of BlockLock is that it takes cutting-edge blockchain technology and makes it accessible for everyday professionals. Using a straightforward graphical user interface (GUI), BlockLock makes blockchain transactions as simple as shopping on an app.
If you’re looking to streamline your organization, build genuine 21st-century partnerships, and harness the growing power of blockchain, Blocklock by Sofbang is the ideal solution for you.
Just about all consumer goods and services are linked in some way to the supply chain. The supply chain represents every partnership or transaction in the journey from raw materials and parts to distribution and final sale of products. When delays, logjams, or downtime disrupt the supply chain, the ripples can be felt throughout the industry as well as the marketplace.
Blockchain is an emerging secure, tamper-resistant documentation and transaction record-keeping system that has the potential to help partners forge more direct, powerful bonds. You might be familiar with the term “Blockchain” from the world of cryptocurrency, but that’s just the use of the technology that media has grabbed onto. In truth, Blockchain technology may be the key to significantly reducing many of those disruptions to the supply chain we mentioned.
Using Blockchain, enterprise organizations can tighten and strengthen the supply chain by connecting directly and securely in a way that prevents outside issues or third-party entities from slowing down the pace of business. These tighter-than-ever partnerships streamline operations for suppliers, manufacturers, and distributors, ensuring transactions up and down the supply chain can be completed in an expedient, secure, richly documented manner.
While Blockchain technology is not ubiquitous throughout the supply chain and likely won’t be for several years, it is gaining traction as a way for close partners and repeat customers to streamline their relationships and ensure they are always able to communicate, make orders, track shipments, and complete payment, creating stability that supports both businesses, as well as their other up- and downstream partners.
Blockchain provides a detailed, indelible record-keeping system that offers total traceability for each part, product, or order in the supply chain. It brings together warehouse data, transaction history, and part allocation information to revolutionize our traditional concept of “shipment tracking,” providing more information than ever to ensure product quality and creating a framework to significantly simplify ordering, shipping, and receiving.
Using Blockchain, organizations can set up one-touch ordering and instantaneous payment for repeat or frequent orders, accelerating the supply chain in ways that weren’t previously possible. When part recalls, order fulfillment errors, or logistical hang-ups do occur, businesses can review the Blockchain record to determine where and how the problem occurred and plan corrective action. In this way, Blockchain builds additional levels of accountability to logistics and builds a culture of attention to detail and dedication to mastering repeatable processes.
Transitioning toward Blockchain is not an initiative that can be completed overnight with a snap of the fingers; it’s a transformative, innovative process that involves thinking about every aspect of your business in new ways. That means that easing into things is definitely the best way to go.
Once you’ve chosen a strong Blockchain solution provider (like Sofbang), it’s best to identify one extremely close supply chain partnership (an organization you’ve worked with for many years with a history of strong mutual satisfaction) with whom to begin a pilot program. Your provider can create a Blockchain solution that connects the two of you in new, direct ways, allowing both organizations to explore Blockchain in an appropriately scaled manner.
- Easy to use interface
- Extensible set of common contract elements
- Cloud Migration Strategy
- Semantic version for reference and replication
- Tracking and reporting
- Streamline processes
- Reduce supply chain cost
- Overcome trust issues
- Real time visibility
- Competitive advantage