Investa Garden, Chicago, IL (2026)

Name: Investa Garden
Address: Chicago, IL, US
Telephone: +18479420266
Price range: $$

Experienced Partners
100+ years of collective experience in business management & marketing.

07/29/2021

𝐌𝐚𝐧𝐚𝐠𝐢𝐧𝐠 𝐚 𝐒𝐮𝐩𝐩𝐥𝐲 𝐂𝐡𝐚𝐢𝐧 𝐭𝐡𝐚𝐭 𝐈𝐧𝐜𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞𝐬 𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧

Blockchain has had a prodigious effect on the different industries in the market and among its top users is the supply chain function. It has enabled businesses to get an edge over their competitors, secured their data, improved the efficiency of their operations, and gave rise to easier transactions.

If you are still unfamiliar with blockchain, it is a digital ledger that collects and securely stores data. It uses a systematic cryptographic algorithm that ensures the immutability of information, overall activity, and company transactions.

Now, the question is, how will and do you manage a supply chain that incorporates blockchain to guarantee its success? What are the concepts to consider? Let's find out.

Here is a list of vital factors that you should consider when you are 𝐦𝐚𝐧𝐚𝐠𝐢𝐧𝐠 𝐚 𝐛𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐢𝐧𝐜𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞𝐝 𝐬𝐮𝐩𝐩𝐥𝐲 𝐜𝐡𝐚𝐢𝐧:

𝟏. 𝐑𝐞𝐯𝐢𝐞𝐰 𝐭𝐡𝐞 𝐢𝐦𝐩𝐚𝐜𝐭𝐬 𝐨𝐟 𝐛𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐨𝐧 𝐭𝐡𝐞 𝐬𝐮𝐩𝐩𝐥𝐲 𝐜𝐡𝐚𝐢𝐧 𝐬𝐲𝐬𝐭𝐞𝐦
Reviewing the impacts of blockchain in your industry is an excellent way of knowing whether it is a success or a failure from harvesting to manufacturing and lastly to the delivery of products and services to customers. This is also a great way of assuring yourself and your team that using blockchain was an wise decision, especially if you are still new to the industry.

If you are experimenting with testing the different types of blockchain in your company, it will give you feedback that you ought to know whether they are positive or negative.

𝟐. 𝐂𝐨𝐧𝐬𝐢𝐬𝐭𝐞𝐧𝐭𝐥𝐲 𝐞𝐱𝐩𝐞𝐫𝐢𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 𝐞𝐱𝐩𝐥𝐨𝐫𝐞 𝐭𝐡𝐞 𝐩𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 𝐮𝐬𝐞 𝐨𝐟 𝐛𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧

Experimenting with this technology can help you explore possible new benefits to help your company get a better edge over your competitors. That is if you are successful at all. You can also start from scratch and devise your blockchain per your design and standard. But of course, it will be a lengthy and costly procedure with all the ups and downs.

A tip? You might want to hire an expert blockchain manager if you are adventurous enough to start from a blank page. That will surely provide you with a higher chance of actually getting promising results.

𝟑. 𝐒𝐜𝐡𝐞𝐝𝐮𝐥𝐞 𝐚 𝐜𝐨𝐧𝐬𝐭𝐚𝐧𝐭 𝐛𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐜𝐡𝐞𝐜𝐤 𝐭𝐨 𝐢𝐝𝐞𝐧𝐭𝐢𝐟𝐲 𝐩𝐨𝐬𝐬𝐢𝐛𝐥𝐞 𝐥𝐚𝐩𝐬𝐞𝐬

Consistent checking of the blockchain's operations in your company will enable you to identify possible gaps that need to be taken care of. More importantly, you will observe whether your team is doing them right or is not having difficulties in the application. Consistent checks will also save you the trouble of having to look for resources when unexpected challenges arise.

For instance, if your products or service tampered with and there were miscommunications and technical problems that occurred and alerted immediately, this will help you sort the problem.

𝐃𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐩𝐫𝐨𝐜𝐞𝐬𝐬, 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝 𝐭𝐨 𝐜𝐨𝐦𝐞 𝐮𝐩 𝐰𝐢𝐭𝐡 𝐰𝐚𝐲𝐬 𝐨𝐧 𝐡𝐨𝐰 𝐲𝐨𝐮 𝐜𝐚𝐧 𝐢𝐝𝐞𝐧𝐭𝐢𝐟𝐲 𝐩𝐫𝐨𝐛𝐥𝐞𝐦𝐬 𝐢𝐧 𝐲𝐨𝐮𝐫 𝐜𝐨𝐦𝐩𝐚𝐧𝐲:

-Make sure to examine past mistakes and learn from them
-Take note of your employee or team's absences.
-Evaluate your employee's engagements.
-Hire people who are tech-savvy to help you identify lapses.
-Examine the blockchain's operations model and principles

𝟒. 𝐑𝐞𝐯𝐢𝐞𝐰 𝐭𝐡𝐞 𝐰𝐨𝐫𝐤 𝐞𝐭𝐡𝐢𝐜𝐬 𝐨𝐟 𝐲𝐨𝐮𝐫 𝐛𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐞𝐱𝐩𝐞𝐫𝐭 𝐩𝐚𝐫𝐭𝐧𝐞𝐫𝐬
Running a business with all the complex transactions, operations, and blockchain systems, you wouldn't want to be troubled by trivial concerns involving your blockchain partners. This is why a thorough and consistent observation of the work ethics of your partners is crucial. Reminding them of your company goals and principles will make sure they are delivering an optimal value for you.

𝐇𝐞𝐫𝐞 𝐚𝐫𝐞 𝐥𝐢𝐬𝐭𝐬 𝐨𝐟 𝐫𝐞𝐚𝐬𝐨𝐧𝐬 𝐰𝐡𝐲 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝 𝐭𝐨 𝐝𝐨 𝐭𝐡𝐢𝐬:
a. Your clients and customers will receive the best services and support your company more or recommend it to others. This will increase, in return, loyalty and generate more follow u

b. You keep current Investors of your company engaged, or you will be able to add more investors, to maintain your reputation.

c. You will receive recognition from the media and other organizations, which is an excellent opportunity for your company's visibility

d. You will be able to protect and increase your reputation.

e. Your company's success is guaranteed while your costs are reduced if not eliminated at all.

f. Sustains your client's and customer's trust in your service and products.

𝟓. 𝐋𝐞𝐚𝐫𝐧 𝐟𝐫𝐨𝐦 𝐲𝐨𝐮𝐫 𝐜𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐨𝐫𝐬
Learning from your competitors will surely help you be able to save money, time, and effort if you learn from the mistakes or successes of your competitors. Getting a piece of information like that can prevent you from committing the same mistakes. Likewise, you can also imitate their steps as a model of how they could progress using blockchain technology. And of course, you may want to improve your procedures so you can have better results than them.

The following are the tips you need to do to learn as much as you can from your competitors:

a. Read their annual report.
b. Attend their product launches.
c. Attend their exhibits and trade fairs. This way, you can observe and review their promotional activities and who visits them.
d. Visit your competitor's website and compare. Make sure to use the search engine to track down their information and products so you can learn from their procedures.

When you can solicit information about your competitors, start evaluating them, or you can discuss them with your team. This is how you will find out the gaps in certain areas which you may exploit to your advantage. Consider categorizing them under the following three factors:

-What you need to learn from and do better.
-What their weaknesses are or what they are doing poorly on.
-What they are doing similar to yours.

𝟔. 𝐑𝐞𝐠𝐮𝐥𝐚𝐫𝐥𝐲 𝐮𝐩𝐝𝐚𝐭𝐞 𝐭𝐡𝐞 𝐥𝐞𝐠𝐚𝐥 𝐚𝐧𝐝 𝐫𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐜𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞𝐬
Establishing a resilient supply chain management is attainable not only with the use of advanced technologies such as blockchain but if your transactions and company itself are compliant with the regulations and legal matters. Overlooking this would result in your company's downfall, so be sure to be very vigilant. This will guarantee that they will not cause risks such as the following:

a. Corruption
Malicious employees might take advantage of their access to your company's information to exploit your company. The operations under the manufacturing and supplying may also become subjects for bribery and exploitation in the department handling them. They may use the funds for their gains.

b. Government related legalities and regulations
Yearly or quarterly, depending on your country, almost all business sectors operating in the industrial world need to update their business permits and other relevant legal concerns. Failing to do so will tamper on the company's transactions and activities. The authorities mostly review the exports, health and safety matters, labor law compliance, etc. Having your company checked regularly and thoroughly will keep your reputation intact, especially if you have papers to show.

𝟕. 𝐄𝐝𝐮𝐜𝐚𝐭𝐢𝐧𝐠 𝐚𝐧𝐝 𝐭𝐫𝐚𝐢𝐧𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐭𝐞𝐚𝐦 𝐰𝐢𝐭𝐡 𝐛𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐤𝐧𝐨𝐰𝐥𝐞𝐝𝐠𝐞 𝐚𝐧𝐝 𝐚𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧
Your company or organization's success will depend on how skilled your employees are. This is why it is important for you to offer training and seminars that would enhance their skills and knowledge, especially with what blockchain is, how it is used, why it is used, etc. To do this, you can partner with agencies or hire experts to educate and train your employees. With the evolving nature of blockchain, it is also imperative that you consistently provide them with growth opportunities to keep up with the trends.

Here are crucial effects and reasons why you must educate and train your employees:

-improves overall performance
-increase your team's engagement
-identify training needs
-strengthens loyalty, work ethics, and relationship
-improves your team's confidence, skills, and knowledge
-prepares your employees for more significant responsibilities

𝟖. 𝐇𝐢𝐫𝐞 𝐭𝐡𝐞 𝐫𝐢𝐠𝐡𝐭 𝐩𝐞𝐨𝐩𝐥𝐞
Hiring the right people can be difficult. An applicant may have the experience and skills but may not have good work ethics, or they may have the training and educational backgrounds but lack experiences. This is why there are standards to follow in order to hire the right people.

Here are some pointers that will help determine which of the applicants to hire:

Before hiring someone, you will need to ask yourself the following questions:

-What do they know about blockchain?
-What do they know about the supply chain and its management?
-What are their skills and experiences?
-Do they have the relevant training?
-Do they have leadership skills?
-Are they problem solvers?
-Do they work well in a group?
-What are their goals?

Please note this; experience and skills matter, but so are their social skills and work ethics. The right employee will help you uphold not only the company policies but your reputation as well. Lastly, you will gain better results if that person does well.

𝟗. 𝐒𝐞𝐭 𝐚𝐬𝐢𝐝𝐞 𝐚 𝐛𝐮𝐝𝐠𝐞𝐭 𝐟𝐨𝐫 𝐦𝐚𝐢𝐧𝐭𝐞𝐧𝐚𝐧𝐜𝐞 𝐚𝐧𝐝 𝐢𝐦𝐩𝐫𝐨𝐯𝐞𝐦𝐞𝐧𝐭 𝐩𝐮𝐫𝐩𝐨𝐬𝐞𝐬
Blockchain and supply chain management are volatile and susceptible to risks, challenges, and changes. With the unexpected challenges that may occur, having a budget, for that matter, won't have you scramming up or using other business allocated funds for it. As the technologies and industries evolve, you will need funds to keep up if you want to maintain your high position up the market chain or if you want your company to remain competitive and profitable.

Managing a supply chain industry that uses blockchain is not accessible given the complex nature of blockchain. Nevertheless, the use of suitable approaches and regular monitoring of its efficacy and other relevant operations can provide peace of mind that your company or organization is running smoothly.

This is why it is vital to hire the right people who will manage your blockchain-managed company for satisfactory and sustainable results.

07/27/2021

𝐇𝐨𝐰 𝐁𝐥𝐨𝐜𝐤𝐂𝐡𝐚𝐢𝐧 𝐢𝐬 𝐈𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐞𝐝 𝐢𝐧 𝐒𝐮𝐩𝐩𝐥𝐲 𝐂𝐡𝐚𝐢𝐧

With the revolutionary changes that blockchain has contributed to the industrial world, many companies are already exploring, experimenting, and considering the use of this innovation. Of course, some concepts need to be considered before implementing blockchain to prevent implementation mistakes.

The question is, how is blockchain implemented in the supply chain? Read on to find out more.

There are three types of blockchain. Before implementing this innovation, it is imperative that you first know these three types and their differences.

𝟏. 𝐏𝐞𝐫𝐦𝐢𝐬𝐬𝐢𝐨𝐧𝐥𝐞𝐬𝐬 𝐛𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧

The permissionless blockchain does not require permission to join and transact with. The very prime example of this blockchain type is Bitcoin. It is the first to use a permissionless blockchain type. It enabled any user to access and participate without restrictions.

Sure, it is an open trade to anyone interested, but it doesn’t mean that it is not secure and anonymous. It still offers secure, traceable transactions, immutability, and a decentralized system.

This is why it is still widely accepted and used by millions. This type is mainly used in digital identity, voting, and fundraising. However, there are also disadvantages to using permissionless blockchain:

a. Transaction speed is slow due to the number of users of permissionless blockchain.

b. It can only validate and authenticate a limited number of transactions.

c. Some permissionless blockchain requires complex numerical and computational skills for validation purposes that, unluckily, not everyone has.

𝟐. 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐩𝐞𝐫𝐦𝐢𝐬𝐬𝐢𝐨𝐧𝐞𝐝 𝐛𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧

Private permissioned blockchain is the complete opposite of permissionless blockchain type. This type limits the participants who may be able to join. It requires a set of standards and special permission from the main network administrator or owner before joining.

So, why the need to use private permissioned blockchain? This is because it creates a platform that is invisible from the prying public eyes. Financial institutions are the best examples that use this type of blockchain.

𝐓𝐡𝐞 𝐚𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞𝐬 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐭𝐲𝐩𝐞 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠:

-Varying decentralization

-Transactions are valeted by central controlled governance

- Operations are customized according to the standard of the organization.

- It is efficient and is scalable.

- Offers anonymity and transparency

𝐁𝐮𝐭 𝐨𝐟 𝐜𝐨𝐮𝐫𝐬𝐞, 𝐭𝐡𝐞𝐫𝐞 𝐢𝐬 𝐚 𝐝𝐢𝐬𝐚𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞:

Less security

-This is because the organization relies on its member’s integrity, making it susceptible to manipulation.

Lastly, this blockchain is commonly used in research, food tracking, banking and payments, asset ownership, internal voting, and managing supply chains.

𝟑. 𝐏𝐮𝐛𝐥𝐢𝐜 𝐩𝐞𝐫𝐦𝐢𝐬𝐬𝐢𝐨𝐧𝐞𝐝 𝐛𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧

Public permissioned blockchain offer non-restrictive participation to anyone who intends to explore it. Anyone can access the information regulating around the platform, allowing them to contribute and participate in the core activities of the network. The downside is that there is an insufficiency of privacy and anonymity and the heavy power consumption necessary for maintaining the distributed public ledger.

To further proceed, you also need to recognize the signs your organization or business needs a blockchain system to run it. Here are five questions you have to consider or discuss with your members:

1. Does our company need secured file storage?

2. Is security one of our top priorities?

3. Are all writers known? (Consider this question when you are choosing which type of blockchain type to use)

𝟒. 𝐀𝐫𝐞 𝐚𝐥𝐥 𝐰𝐫𝐢𝐭𝐞𝐫𝐬 𝐭𝐫𝐮𝐬𝐭𝐞𝐝? (𝐂𝐨𝐧𝐬𝐢𝐝𝐞𝐫 𝐭𝐡𝐢𝐬 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧 𝐰𝐡𝐞𝐧 𝐲𝐨𝐮 𝐚𝐫𝐞 𝐜𝐡𝐨𝐨𝐬𝐢𝐧𝐠 𝐰𝐡𝐢𝐜𝐡 𝐭𝐲𝐩𝐞 𝐨𝐟 𝐛𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐭𝐲𝐩𝐞 𝐭𝐨 𝐮𝐬𝐞)

𝟓. 𝐈𝐬 𝐝𝐚𝐭𝐚 𝐯𝐚𝐥𝐢𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭?

You will also need to consider transaction speed and regulatory approval when implementing blockchain.

𝐒𝐩𝐞𝐞𝐝 𝐨𝐟 𝐓𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧

Transaction speed is the rate at which the data is transferred to another system. This is a crucial mechanism that needs to be considered if you aim for a company with a better result. It assures the customer’s satisfaction, provides more availability and progress in the operational system.

Currently, blockchains are not able to handle more than 14 transactions per second. The bitcoin, for instance, can only accommodate seven transactions per second.

𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐚𝐩𝐩𝐫𝐨𝐯𝐚𝐥

Implementing blockchain can be difficult in some cases due to industry-specific legislative restrictions. Depending on the industry niche you are in, specific standards may not comply with the standard regulatory requirements. This is why it is crucial to review, comply with, and seek the general data protection regulation in your area.

If you are aiming to improve your company or is just about to start one, here are some pointers you need to base on when implementing blockchain:

1. Do more research
Researching the importance, history, challenges, types, and other relevant information about blockchain will prevent you from committing mistakes and help you fully utilize it. It will help you determine the reasons you should be using it to improve your current company. And it will also help you avoid mistakes from applying it.

Learn from those who are already using this innovation to avoid the same mistakes they have fallen into, so you can devise a more effective use for the blockchain.

2. Understand and determine the use of blockchain
Understanding the use of blockchain will enable you, your members, and your company to embrace blockchain without a shred of doubt whether blockchain is effective or whether you need it or not. Also, you will be able to navigate through the platform without trouble, given you, your members become fully equipped with the knowledge on how to utilize the blockchain.

3. Find the expert blockchain partners and members
Let us say you have a blockchain master plan prepared along with the project blueprint for development. But, if you are still an early bird in the area, you might find moving to the subsequent development hard. Or, your tech members do not have the resources and lack the experience to proceed.

This is why finding or employing members who are already experts in the platform is a must. And here are the factors that need to be considered:

a. Technical Blockchain Skills and Experience

Having a skilled and experienced blockchain partner will not only help you with your progress but will ensure that your important priorities and tech stack requirements are met. Hire a person who can and is willing to work at breakneck and on time with schedule.

This will save from frustrations caused by missed deadlines and slacking off. Given that blockchain is a complicated system and it will become more complex with its evolving nature, it is imperative to hire someone who is flexible and can keep up with the changing trends.

Before hiring someone, make sure to review the following if you want to ensure promising results and performance:

-Assess their Experience in developing and using blockchain.

-Rate their knowledge on the blockchain.

-Review their work ethics and work samples.

-Assess and test the skills in actual performance.

-Ask for recommendations and feedback from their previous employer.

-If the applicant does not have experience yet but has an extensive educational and training background, ask for feedback from his/her trainer and instructors.

b. Availability and Commitment

Projects can take a long duration of success achievement, and along the way, technical difficulties, lack of determination, and other problems may occur. With this, you will need someone who will not leave you hanging. Find someone with work ethics which is readily available when unexpected difficulties arise. When you already launched projects, you will also need someone who knows how to fix and handle possible bugs that may occur, consistent maintenance, and upgrading procedures.

Remember, finding the right partner and employee will save you from trivial matters and will only focus on growing your business. This is why before accepting someone in your company, make sure you ask about the following:

-Project management methodologies

-Discuss how they face and handle sudden changes and when difficulties occur

-Ask about their post-project services and maintenances

4. Choose a suitable blockchain technology for you

With the different blockchain types present in the platform, make sure to choose the right type suitable for your organization and company. Make sure it is in line with your company standard, goals, and purposes. And remember, do not attempt to follow the hype. Consider what type of industry you will be entering and base your choice on that. For instance, if you aim to open a financial sector, your best bet would be permissioned blockchain.

More importantly, make sure to seek counsel from the blockchain experts who will present you with relevant information before choosing what type of blockchain to execute.

5. Recognize and prepare for possible difficulties

Difficulties will inevitably arise during implantation or transactions. This is why you and your members will need to prepare for them. Consider setting aside some allocated funds that would cover the expenditures you will be having with fixing the problem.

You can also discuss the possible difficulties with your team so you can set not only hypothetical solutions but also practical ones.

Blockchain may be a huge milestone when used in your company organization but remember. It is a complex platform that requires in-depth understanding and research otherwise, and you will only be wasting time, money, and effort.

Now that you know the essential concepts that need to be considered in implementing blockchain in your company, make sure you will find the right partner, employ the right people and smartly manage it to ensure your progress.

07/26/2021

𝐒𝐮𝐩𝐩𝐥𝐲 𝐂𝐡𝐚𝐢𝐧 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭: 𝐓𝐫𝐚𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐃𝐚𝐭𝐚𝐛𝐚𝐬𝐞 𝐕𝐬. 𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧

Foremost, what exactly is supply chain management? So, supply chain management is the whole series of activities of regulating and managing the delivery of products and services to buyers and users in the most efficient procedures. It involves five processes which are:

𝟏. 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠
Planning is an integral part of an organization's supply chain, aiming to have a more significant edge over its competitors. It helps sort out ideas that would meet the standard of the market, considering the best options for materials, partners, potential clients, and so on. It includes the procedures on how theories are implemented and who will be taking charge, and so on. This activity is usually coupled with forecasting processes at the business unit level.

𝟐. 𝐒𝐨𝐮𝐫𝐜𝐢𝐧𝐠
Sourcing is identifying prospective raw materials and services based on the planned or actual demands in the market. It also includes spotting potential vendors or business partners who will be buying and reselling the goods as well as the logistics involved to bring the products to the factory.

𝟑. 𝐀𝐜𝐪𝐮𝐢𝐫𝐢𝐧𝐠 𝐑𝐚𝐰 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐬
The acquisition of raw materials refers to the harvesting and transporting commodities into manufacturing establishments or buyers worldwide. Raw materials are natural or organic resources acquired from reliable suppliers. There are the raw materials and products bought and sold in the market as primary factors for production or manufacturing.

There are different types of raw materials, which include the following:

Mine-based raw materials- gold, copper, diamond, coals, metal, crude oil, etc.
Animal-based raw materials- meat, silk, skin, horn, leather, bones, hair, tusks, etc.
Plant or tree-based raw materials- cotton, fruits, vegetables, flowers, trunk, leaves, and many others.

𝟒. 𝐌𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐢𝐧𝐠
This process refers to molding raw material into a new product using manual labor, machines, tools, and chemical components. An example of this would be a crocodile skin manufactured into a high-quality leather bag. Another one would be coffee beans harvested from the farms and are manufactured into flavored coffee packed in bottles or plastic sachets.

𝟓. 𝐃𝐞𝐥𝐢𝐯𝐞𝐫𝐢𝐧𝐠
Part of supply chain management is contacting potential clients and customers to buy the goods and services. It also includes the transportation of the manufactured goods to the clients or customers by air, trail, and rail.

The following are the three entities involved in supply chain management:

1. Supplier

There are various kinds of suppliers, but essentially it is an individual or organization that delivers goods and services to customers. It may also refer to a unit that sources and procures raw materials and delivers them to manufacturers. Or it can also be a manufacturer and distributor that provides bulk goods to another reseller or client.

An example of this would be the grocery departments. Without the goods, the establishment wouldn't exist or operate. It needs diverse suppliers of various products to sustain its existence. Farmers, for instance, deliver rice based products, sugar, and more while fisherfolks provide them with fish.

2. Producer

Producers refer to an entity that procures, processes, and produces raw materials into new materials and materials distributed to the different wholesale and retail enterprises. An example of producers would be manufacturing clothing from natural materials and into signature designs that are procured by mall establishments to sell.

3. Customer

Customers are individuals or organizations who buy and use the services or products on retail (B2C) or wholesale demand (B2B). They can be the clients who buy directly from the manufacturers, suppliers, or producers with the intent of reselling them. The best example for this would be the small store owners who purchase from the grocery stores to sell them at a higher price.

Lastly, customers can also be those who purchase for personal use. An example of this would-be clients or customers who buy groceries or any products in establishments such as make-ups for personal use.

Now that we have established what supply chain management is, let us examine what a blockchain is. Blockchain is the digitalized transaction used by almost every high-end industry in contemporary times. It stores transaction information such as product/service price, assets, and ownership, providing more secured, decentralized, and easy-to-manage transactions.

Before the digitalized database became a trend, managing supply chains was a laborious and painfully extensive operation, especially for industries with expansive set-ups. With the blockchain gaining its position in the modern economic era, various business sectors are already exploring its use on their platform, ramping up the traditional method.

Despite the emergence of blockchain, traditional supply chain management is still observed in modern society, and they are operated mainly by small-scale businesses. Although the conventional supply chain setup offers promising results, it is very costly and not as transparent and efficient as blockchain. So, which is better? What is the difference between the two?

Here are the key differences between a traditional supply chain management and blockchain managed supply chain:

1. Easy-to-Access Company Information

Easy-to-access company information is a big challenge to traditional supply chain management, making blockchain more of an attractive option to execute. This is because most often than not, standard setup requires their company background, logistics, and transactions printed on paper. With this, the risk of tampered documents is likely to pan out.

Also, documents will need a laborious and time-consuming effort of storing them into safes and reacquiring them for review purposes or any transaction for that matter. Something that will be a headache during emergency meetings for any business.

With the use of blockchain, company information will be much more accessible with no trouble. You can click on the digital data, and automatically, you receive them just seconds or minutes later.

2. Secured Company Data

With the spurring competition in the industrial world, one of the most potent assets of a company is its most prized possession, the company data. It contains the background, the transactions, and other highly confidential information stored away from prying eyes that might use it to destroy one's hard-earned empire.

Why is it so essential to secure your data ? Well, just like a famous and most sought-after dish with a secret ingredient that makes it more delectable than the others, a company also has its private leverage or data that makes its reputation, products, and services on top of the market. And of course, you would not want your competitors taking a peek, because it could hurt your competitive advantage. After all, you wouldn't want your effort on planning and establishing your business secrets to go to waste as it would hurt your competitive intelligence.

This is another plus point to blockchain in the industry as it offers more secure company data. Blockchain is equipped with cryptography algorithms that make it safe for information storage. Basically, cryptography refers to a technique that uses complex methods of securing the process of storing and transmitting any company activity.

More importantly, it assures access to confidential data only to the intended entity. With the ex*****on of blockchain, the risk for theft and altercation problems are reduced if not eliminated as a whole.

3. Reduced Cost

Reducing cost is one of the primary goals of businesses or organizations. Reduced costly activities would mean more profit streams. Under the traditional supply chain management, paper works and manual administrative tasks are required to operate to thoroughly review every detail, transaction, and activity of the organization or business. Both, of course, demand money for labor and materials used in the process or activities. A very costly one for businesses.

But, with blockchain, it's a different story. All transactions will be via digital platforms, given the information is already stored online. This makes it easier for companies to process transactions online where it is possible to accept payment using online media such as bitcoin or any blockchain payment settlement.

Another advantage of using blockchain is the use of automation keys that allows the companies to lower or eliminate their overhead cost on legal aspects such as procuring contracts drafted and approved by lawyers, the cost accounting procedures, and other expenditures offered by external services.

Now that we have understood what a supply chain is and its management is, including the differences between the traditional supply chain management and supply chain management using blockchain, we can weigh out which model is more promising and provides a more sustainable result.

This is an essential factor to note, especially if you are considering opening a business of your own. It will provide you with substantial information on which to base your choices from. You can keep up with your competitors in whatever industry you are planning on going after . In that case, intelligent and creative ex*****on of the blockchain platform will give you a better chance to get an edge over everyone in the industry.

It is a good time to know more about the importance of blockchain, how it is implemented, and so on. Most importantly, review the feedback of the different industries that embraced blockchain so you would know how successful it is and how they could fully utilize and learn from them.

Choose well and most especially implement well. Remember, blockchain can be a massive advantage for your business or organization, but if you lack research on how to execute it smartly, it will not get you anywhere. So what's it going to be? A traditional set-up? Or a blockchain-operated supply chain?

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