Blockchain enables supply-chain transparency and business growth
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RECENT research by the Economist Intelligence Unit has uncovered significant issues in the way multinational firms manage the ethical performance of their supply chains. With less than a third of organisations addressing issues such as ethical breaches or supply-chain corruption, this spells a major concern across all industries.
Supply chains bear the responsibility of reputation for a brand. Problems in the supply chain recently resulted in frozen foods being recalled over warnings of a potentially deadly listeria outbreak. It has also generated costly and damaging challenges for aviation companies.
A lack of trust can become a major issue for manufacturers who want to earn and maintain customer loyalty. A Harvard Business Review study showed that retailers with a high level of trust in the manufacturer generated 78 per cent more sales than those with a lower level.
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