HashCash Consultants is helping a USA based leading FMCG enterprise with blockchain integration to initiate infrastructural reformation, especially in manufacturing and supply chain management.
As blockchain disruption and adoption speeds up across different sectors, FMCG companies have been trying to incorporate the values of DLT to streamline their operations and make manufacturing and supply chain as seamless and cost-effective as possible. The collaboration with HashCash is a manifestation of the growing demand and relevance of blockchain implementation within the manufacturing industry, notably the ones involved in FMCG.
While speaking about the project, Raj Chowdhury, CEO of HashCash Consultants mentioned, “The FMCG industry needs to incorporate new-age technologies like blockchain to reform its existing operations concerning manufacturing, supply chain and retail, which at present is governed by opaque and time taking processes. HashCash aims to aid them with scalable integration solutions that creating a secured ecosystem for better and smarter business.”
How Blockchain Addresses the FMCG Woes?
Speed, timeliness, and accuracy are integral to FMCG success and profit generation. However, the present structure of the manufacturing and supply chain, which are the most critical areas of the industry is still heavily fragmented and relies on manual processes.
There is a dependency on third-party intermediaries for sourcing the base products and payment processing. Not to mention, the present infrastructure severely lacks the transparency of product sourcing and production, with minimal provisions to track the payments and products through the supply chain. These issues often lead to delay in production and delivery, logistical error, lags in warehouse management, etc. which directly impacts the profit margin and sometimes even mars the brand image.
Blockchain addresses these issues and reforms the core operational architecture ensuring:
- Well-coordinated manufacturing with enhanced accuracy
- Superior inventory management
- Advanced security of data
- Traceability of products and transaction across the supply chain
- Ethical sourcing of products and tracking the same
- Seamless payments
How HashCash Consultants Aims to Help?
Blockchain application allows HashCash to bring significant changes within the key operational areas of the FMCG company. Leveraging HC Net (HashCash’s blockchain network), they offer a secured platform to execute system integration and facilitate various critical operations within the enterprise. The use of smart contracts enables the execution of trusted agreements and transactions among different parties involved in the manufacturing and supply chain. It eliminates the needs for any middlemen or centralized authority, making every transaction transparent, immutable, and traceable.
The operational architecture of the supply chain gets integrated with the blockchain platform, allowing easy tracking of consignment, detection of faulty goods, and transparency in order deliveries. Peer-to-peer payments facilitate instant and cost-effective transactions.
HashCash also enables tracking of the product supply chain to ensure that it has been sourced, ethically, and sustainably including details such as origin, batch creation, processing, validity along with storage conditions and shipping. HashCash fills the gap within the old infrastructure with blockchain integration and addresses all the problems with futuristic solutions.
HashCash Consultants comes with a suite of advanced and highly scalable blockchain-based products and customizable solutions that can be easily integrated into existing legacy infrastructure, without incurring a heavy expenditure or the need for complete system replacement. They have an experienced team of industry veterans who are the chief architects behind several projects and collaborations that the company has undertaken.