A REVIEW OF THE VANIG PLATFORM
Vanig is a platform which leverages on blockchain technology to integrate the E-commerce platform into the supply chain ecosystem in order to proffer solutions to the bottlenecks experienced by stakeholders in the supply chain ecosystem i.e manufacturers, wholesaler, retailers and end consumers. The platform aims to make shopping a worthwhile and less frustrating experience for consumers by affording them the opportunity to select good products for purchase, track and trace the status of their goods, get authentic reviews about their products of choice, thus saving money and unnecessary costs.
CHALLENGES IN SUPPLY CHAIN MANAGEMENT AND E-COMMERCE INDUSTRY
• Lack of visible supply management: For a supply chain to operate effectively in today’s global world, visibility is a prerequisite. Supply chain visibility entails knowing where inventory is at any given time, and how well parts, components or products in transit can be tracked as they move from the manufacturer to their final destination. The goal is to improve and strengthen the supply chain by making this information readily available to all stakeholders, so as to enable a quick response to any shocks to the chain. Having a visible supply chain may cut risks, improve speed to market, and help identify shortage and quality problems along the supply chain, yet many companies are failing in their duty to enforce it.
• Inefficient tracking of products during a recall: The pressure on manufacturers to produce high quality products that are safe is an increasing challenge. Number of product recall cases is growing each day and this can damage a company’s reputation. When it happens, tracking of the product often poses a difficulty to stakeholders as a result of poor inventory management of products
• Inadequate inventory management: A crucial tool in large businesses is the ability to manage inventory well. Ineffective or none existent inventory tracking causes longer lead times which results in stock depletion, hence frustration on the part of customers.
• Fake reviews of products on e-commerce platforms: this is very rampant on social media today. Majority of reviews seen are orchestrated by manufacturers and wholesalers in order to sell their products, hence misleading innocent consumers who often fall into the trap of buying substandard products as a result of unauthentic reviews.
FEATURES OF VANIG PLATFORM
• Security guaranteed platform powered by blockchain
• Realtime tracking of products from point order placement till delivery of order
• Shorter recall process: with the Vanig platform, recall of an item if at all would be made easier and faster as the blockchain arrangement of the transaction is in such a way that completed transactions would be easily tracked and traced.
• Authentic reviews as against fake reviews present on other shopping platforms. Artificial intelligence feature of Vanig helps to detect fake reviews based on order history, past review of the item e.t.c
HOW VANIG WORKS IN ONLINE SHOPPING
• Consumer places an order using the Vanig Website or Mobile App. Smart contract #1 is initiated automatically and it captures the details of the order between the consumer and Vanig. This is recorded and stored in Vanig’s blockchain.
• Manufacturer/retailer ships the product from their location. This triggers another Smart contract #2 between the manufacturer and its distribution agent.
• Distribution agent picks up the order from manufacturer and delivers it to the consumer.
• When customer acknowledges the delivery, smart contract #3 will be triggered between distribution agent and customer
• Finally, Smart contract #4 is created to capture the transaction ledger between the wholesaler and the manufacturer.
All these transactions are recorded and are linked as blocks in the Vanig ecosystem. This linkage makes the transaction easily traceable on the blockchain system; hence inventory is visible to both consumers and all stakeholders in the supply chain.
TOKEN
Token to be used on the platform is known as VANIG token. It is built on the ERC20 smart contract. VANIG will serve as the means by which transactions are conducted on the vanig ecosystem. Users of Vanig app and website will be rewarded using Vanig tokens.
TOKEN INFORMATION
Token Ticker: VANIG
Type: ERC-20
Total token supply: 225,000,000 VANIG
Token Sale: July 23rd-September 25th
Soft cap: $2million
Hard cap: $20million
Accepted currency for token purchase: ETH, BTC, LTC, USD
TOKEN DISTRIBUTION
For more information about VANIG, kindly visit:
Website: https://vanig.io/?utm_source=btt&utm_medium=bounty&utm_campaign=toplink
Whitepaper: https://vanig.io/assets/pdfs/vanig-whitepaper-v-5.0.pdf
Telegram: https://t.me/VanigPlatform
Twitter: https://twitter.com/vanigplatform
Facebook: https://facebook.com/vanigplatform
Ann Thread: https://bitcointalk.org/index.php?topic=3252952
Writer: Crypto4ruby
Writer’s Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1788350
