11/9/2017 Blockchain's role in procurement is just beginning - The Strategic Sourceror

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Blockchain's role in procurement is just beginning 

Blockchain's Role In Procurement    

Is Just Beginning 3.1K 2K 1.4K 2.8K

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New tech trends can be easy to underestimate when they represent a

Spend Analysis
real change from what has come before. The use of blockchain systems
And
to transfer information in supply chain scenarios is one such Opportunity
development, as the concept rst rose to prominence as the power Assessments
Clari ed With
behind cryptocurrencies such as bitcoin. Those currencies' early
New Website
association with speculative investment and the dark web may have  Nov 07 2017 -  William Dorn

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11/9/2017 Blockchain's role in procurement is just beginning - The Strategic Sourceror

caused some procurement professionals to overlook blockchain as a

Blockchain's
Ba
business tool.
Role In
Procurement Is ck
Today, with international supply chains becoming larger and more Just Beginning
complex constantly, it's wise to take another look at the progress
 Nov 06 2017 - To
 The Strategic Sourceror
blockchain has made in becoming the basis for business data exchange.
Top
The ability to securely and quickly exchange data between partner Rare Sightings
organizations is valuable today, and any promising chance to seize this Of The Elusive
capability is worth pursuing. IT Sourcing
Specialist!
 Nov 06 2017 -
Expert projection  Torey Guingrich
"The
Supply Chain Digital recently interviewed SAP's
blockchain
Paul Devlin for his thoughts on the next steps
will allow
blockchain will take within the supply chain. He OUR SPONSORS
organization
explained that the technology's disruptive
s to be sure
potential comes from the increased governance
their data is Spend
and surety that is possible when transferring
consistent."
information through such a system. The general S
format of blockchain, which serves as a centralized transaction ledger,
can allow organizations to be sure their data is consistent - when all Consu
*Data Classi cat
partners in a transaction are using blockchain, their information
*Fully Implem
matches by default. *Spend Anal
*No

Security and protection from miscommunication are two blockchain

draws identi ed by Devlin's overview. Ensuring that shipments have L
been dispatched as planned and ensuring fraud hasn't occurred are two
of the major practical uses of blockchain in the supply chain. Devlin
explained that in the years ahead, there is room for companies to get
more creative and ambitious with their implementation of blockchain.

Visibility and veri ed information, two of the bene ts coming from RANDOM POSTS

blockchain technology, can be used for more than just ensuring fraud
isn't occurring. Devlin added that employing the technology is a way to What Makes
For 25 Years
ensure supply chains are free of any kinds of unacceptable practices
(And Counting)
that companies have pledged to stamp out, from child labor to slavery. Of Success?
 Aug 23 2017 -
Spreading beyond banking  Strategic Sourceror

Entrepreneur included blockchain usage on its list of up-and-coming

trends that will affect the way business is done in 2018 and beyond. The Road To
implementation of these systems will have to move beyond nance to SYNERGY:
Dallas, Texas
become truly in uential, but the news source believes the technology is Recap
ready to make this jump. The fact that banks have found ways to use  Aug 16 2017 -
blockchain is a heartening sign that it can transcend its dark web  Strategic Sourceror

associations and become a backbone technology for companies in need

of quick transaction accounting. 
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11/9/2017 Blockchain's role in procurement is just beginning - The Strategic Sourceror

Future
Procurement
Ba
In addition to procurement, Entrepreneur named cloud storage and
Pros Will
legal matters as areas that could be disrupted by the increased use of Require Varied ck
blockchain. With the ability to check data from a centralized and neutral Experience
ledger, organizations operating in these spaces will be able to count on
 Nov 01 2017 - To
 The Strategic Sourceror
one another, quickly verifying that the facts they are working with are
Top
accurate and that all parties involved have access as needed. The
Independent
combination of speed and security seems too good for these companies
Procurement
to pass up. Contractors:
Fact And
Fiction
 Procurement News
 Nov 02 2017 -
 Strategic Sourceror
Share To:  
Automated
   RFX Software:
Is It Ever The
Best Option?
 Jul 31 2017 -  Kristina Kaku

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