How AI and Blockchain are Transforming the Supply Chain Management

Modern supply chains have reached an unprecedented and rather extraordinary level of complexity. The increasing digitization of the physical world, in conjunction with the innovation of IoT technology and sophisticated personality-based targeted marketing techniques, has created an ecosystem where consumer markets are instantaneously accessible, adaptable, and trackable. While there is an enormous potential for profit on the side of businesses, increases in demand have made the maintenance of a linearly structured supply chain unfeasible, especially when it is no longer strictly defined by its transition from raw material to final product. Moreover, consumers, businesses and suppliers now form a multi-dimensional conglomerate that ranges beyond specific industry-domains, population demographics, and national borders. These dynamics have outlined the vulnerability of our existing supply chains.