In the literal sense, supply chain management or SCM is a term which is basically used in commerce.
SCM is basically referred to as the management considered paramount in the basic flow of goods and services it also considers the movement and storage of both raw materials, work in process inventory and also finished goods from their point of origin to the point where they are ready to be consumed. SCM is also regarded as the design, planning and lastly the execution, control and monitoring of all supply chain activities as well which all centres or revolves around building a competitive infrastructure, leveraging worldwide logistics, creating net value and also to basically synchronise supply with demand and measuring performance globally. The core function of supply chain management is to indulge in a cross-functional approach which incorporates managing the movement of raw materials into an organisation, certain aspects of the internal processing of the basic raw material into a desired finished goods, and also the movement of the already finished goods or product out of the organisation and finally towards the final user or customer. But however, the supply chain management is said to be faced with flaws or challenges and the event that recently helped to uncovered this according to reports is a 2017 crisis which involved a pesticide contaminated egg and also the buisness involved as well as the government could do little to nothing due to the fact that they could not locate or keep track of the contaminated eggs and this skyrocketed the consumer fear levels the major factor that lead to this was simply tracked down to the fact that the system lacked standard and also proper regulations. And due to the disorganised nature of the current system of the supply chain management, an urgent need of reformation which will usher in a system based on transparency as well as proper organisation is considered paramount as this will serve as the turning point of the supply chain management from all the limitations it is faced with.
A platform has however promised to help usher in a more organised and transparent system and they basis of the system they wish to offer dwells around the incorporation of blockchain technology system as well as smart contracts and the platform in question is the TEMCO PLATFORM.
THE TEMCO PROJECT PLATFORM
The TEMCO project is a project which basically aims to create a system that will overcome the basic limitations of the current supply chain management. And this they tend to acheive by using blockchain technology system. The basis of the system model however is to give users or customers access to legit information concerning the overall supply chain management model. The information will encompass all the processes of the supply chain management right from the production process down to the distribution process and finally to the last process which is the sales at retail outlets.
LIMITATIONS FACING THE CURRENT SUPPLY CHAIN MANAGEMENT SYSTEM.
I. SEVERANCE OF INFORMATION:
If the basic system model that will help and connect all potential participants within a confided complex supply chain process, will lead basically to a limit for the information which is relayed to the customers.
II. SHORTAGE OF ICT SYSTEM IN REGARDS TO SUPPLY CHAIN SYSTEM.
Certain retailers lacks their own warehouse and as such, they tend to give the goods to other warehouses to help them keep or store inventories. And these local warehouses in return, only keep minimal inventory management and delivery system and therefore making it difficult for the general retailers to get hold of credibility of the goods from the customers.
THE TEMCO PROJECT APPROACH TO THE LIMITATIONS OF THE CURRENT CHAIN SUPPLY MANAGEMENT SYSTEM.
I. A HIGH LEVEL OF CONNECTIVITY AMONGST THE PLATFORM USERS.
With the smart tagging technology, the temco platform will store the information of a product in the supply chain system beginning from the manufacturing to the consuming of the product. And this will help tackle the issue of information limitation faced by the current supply chain management system.
II. TRANSPARENCY AS WELL AS STABILITY OF THE
SUPPLY CHAIN INFORMATION.
This is where the basis of the blockchain technology system comes into play. Information gathered will be saved using a decentralised server and such saved information cannot in anyway be modified by an unauthorized third party and this therefore promotes transparency within the platform. Etc.
PLATFORM TOKEN
The Temco platform will make use of a utility token which will be used to aid or facilitate transactions purposes within the Temco platform with total volume of 6, 000, 000, 000 and also an RRC20 compatible token.
TO KNOW MORE ABOUT THE TEMCO PROJECT PLATFORM
Join the Telegram Group: https://web.telegram.org/#/im?p=@temcolabs
Follow on Twitter: https://twitter.com/temcolabs
Follow on Facebook: https://www.facebook.com/TEMCOLABS/
Follow on Medium: https://medium.com/temcolabs
ANN Thread: https://bitcointalk.org/index.php?topic=5044339.0
Website: https://www.temco.io/
Whitepaper: https://docsend.com/view/eiawynp
Writer’s Bitcointalk Username: Musekay
Writer’s Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2070957
ETH wallet address: 0x6C9F82ceea835C7e24D4b72d2D48b9DdAd0dEEB4