How can inventory management be improved with Blockchain?
Although the blockchain technology was not initially designed to help wineries improve and optimize inventory management, this technology ended up being expert in both tasks.
Blockchain allows wineries, manufacturers, suppliers, production sites, distribution centers and retail partners to connect with each other through a permanent record of every transaction that is processed. All records are stored and accessible to those within the network.
With such transparency, manufacturers are in a better position to know the origins of products, traceability, possible recalls and perishable products. Manufacturers can see consumer demand in real time, allowing them to accurately forecast demand and plan manufacturing and supplies.
The growth of online trading
Traxalt the Blockchain solution
Traxalt is a solution based on blockchain with the main objective of bringing this technology to individual or corporate users by being a direct intermediary.
The company Traxalt provides a customizable blockchain platform that can be adapted according to the needs of the company. Some of the applications of The News Spy protocol can be customized in a platform that could perform large-scale global payment processing, digital or physical inventory management, supply chain management, automated auditability, among other uses.
Prior to blockchain, inventory management was based on a reactive model, where replenishments were ordered once the inventory was depleted. Or a predictive model that calculated when inventory would be depleted.
With blockchain, warehouse inventory management can accurately forecast demand and therefore always have the right type and quantity of products to meet expected demand. The technology allows you to optimize revenue and profitability, while minimizing the risk of lost sales.
Blockchain is still in its infancy, especially in the world of winery operations, but there is no denying the promise it holds for the industry. The benefits of the Traxalt platform have the potential to change everything from inventory management to transportation and logistics tracking.