Blockchain Technology is Set to Transform the Supply Chain

Blockchain Technology is Set to Transform the Supply Chain


How Blockchain Can Transform the Supply Chain

Supply chain has become complicated. Some would say cumbersome. It takes days to make a payment between a manufacturer and a supplier, or a customer and a vendor. Contractual agreements require the services of lawyers and bankers, each of which adds extra cost and delay. Products and parts are often hard to trace back to suppliers, making defects challenging to eliminate.

Friction in the supply chain is a big problem. There are too many go-betweens. There is too much back and forth. The rise in uncertainty stops supply chains from working well. Suppliers, providers, and clients must interact via central third-party entities instead of directly with each other. Ostensibly simple transactions turn into lengthy multi-step procedures.


Blockchain could be the answer to many of these issues. This recent technology is what drives Bitcoin and other so-called cryptocurrencies. However, it goes much further than an unhackable way of holding and exchanging money. Blockchain can manage any form of exchange, agreement, or tracking process. In a supply chain, it can apply to anything from self-executing supply contracts to automated cold chain management.

What is blockchain?

Here’s a simple explanation.

A blockchain is a distributed, digital ledger. The ledger records transactions in a series of blocks. It exists in multiple copies spread over multiple computers, typically known as nodes.

Because it is decentralized, the blockchain ledger does not depend on any single entity (like a bank) for safekeeping. The nodes connected to the blockchain network get updated versions of the ledger every time a new transaction takes place.

The multiple copies of the ledger are the “truth” about every transaction made so far in the blockchain. Any attempt at falsification would mean having to tamper with all the copies at precisely the same moment. The chances of being able to do this in blockchain networks of any useful size are negligible

Applications of Blockchain in Supply Chain


Automotive Supplier Payments

Blockchain allows the transfer of funds anywhere in the world without the need for traditional banking transactions, as transactions are made directly between payer and payee. It is also secure and rapid; taking minutes, compared to days for automated clearing house payments, for example.

Bitcoin transfers specifically also incur lower fees. Australian vehicle manufacturer Tomcar uses Bitcoin to pay some of its suppliers. Currently, three partners in Israel and Taiwan accept payment from Tomcar using Bitcoin.

Tomcar’s supplier agreements use standard terms. The advantage is in the cost savings. On the other hand, the firm is careful to avoid hanging onto too much Bitcoin. While Bitcoin is international by nature, some national governments see it as a way for companies to invest. Companies may therefore be subject to taxation on Bitcoin holdings

Meat Traceability

Companies can use distributed ledger systems (blockchains) to record product status at each stage of production. The records are permanent and immutable. They make it possible to trace each product to its source. Global retailer Walmart uses blockchain to track sales of pork in China. Its system lets the company see where each piece of meat comes from, each processing and storage step in the supply chain, and the products’ sell-by date. In the event of a product recall, the company can also see which batches are affected and who bought them.

RFID-driven Contract Bids and Execution

RFID tags are commonly used in supply chain to store information about products. IT systems can read the tags automatically and then process them. Therefore, the logic goes; why not use them for smart contracts in logistics?
The possible setup could be as follows. RFID tags for cartons or pallets store information on delivery location and date. Logistics partners run applications to look for these tags and bid for a delivery contract. The partner offering optimal price and service gets the business. A smart contract then tracks status and final delivery performance.


Blockchain can transform supply chains, industries, and ecosystems. Interestingly, even organizations like banks, that would appear to be losing out to the new technology, can see opportunities to exploit it in the streamlining of their operations.

In-depth transformation of supply chains will not happen overnight. However, supply chains can already start using blockchain in some areas of their operations. Smart contracts can help eliminate costly delays and waste generated by manual handling of paperwork. From there, new doors may open to faster, more intelligent, and more secure processes throughout the entire supply chain.

Why Is Supply Chain Management Necessary in the Current Market?

Why Is Supply Chain Management Necessary in the Current Market?

Supply chain management (SCM) is a very important part of any organization as it deals with the effective management of supply chain activities to ensure and maximize customer value and achieve a competitive advantage. Companies who use strategic SCM are able to function at their best capacity to provide and distribute their products and materials efficiently.

What Is Supply Chain Management?

Supply chain management refers to the management of supplying goods and products required by the end customer. In other words, it refers to an organization that manages products that reach an end user. SCM deals with the management of a network of business processes and activities such as raw material procurement, logistics, and manufacturing and distribution of finished goods. Ensuring that the right product is supplied to a customer at the right time and place, as well as with the right cost is the mission of a good SCM provider.

The Importance of Supply Chain Management

There are various reasons that SCM is important to retailers and businesses alike. SCM can boost customer service, reduce operating costs, and improve a company’s financial position. Other benefits include reduced inventory costs, better information sharing between partners, improved process integration, and improved quality. Here is a breakdown of the benefits of SCM.

Boosts Customer Service

One of the most important aspects of a business is its customer service. The correct product assortment and quantity needs to be delivered to the customer on time and efficiently in order to ensure they are satisfied. Customers also expect products to be serviced quickly if repairs or replacement products are requested/needed. SCM can help ensure that customers are always satisfied, which can improve your business’s bottom line.

Reduces Operating Costs

Supply chain management decreases overall supply chain costs since retailers and manufacturers often rely on supply chain managers to create networks that meet customer service goals at the most affordable rate. Retailers also require supply chains to quickly deliver expensive products in a timely manner in order to limit inventory holds longer than necessary. SCM further reduces production costs because manufactures always require supply chains to deliver materials to assembly plants to ensure proper material supply.

Improves Financial Position

SCM increases profit leverage since supply chain managers help control and reduce the cost of the supply chain, which provides drastic increases in firm profits. Supply chain managers also decrease the use of plants, warehouses, and transportation vehicles within the chain so that fixed assets can be reduced. Lastly, SCM can increase your business’s cash flow given that customers can receive their products faster thanks to supply chain managers.

What’s the Difference Between Warehouses and Distribution Centers?

What’s the Difference Between Warehouses and Distribution Centers?

To many, the difference between a warehouse and distribution center may not be apparent but to anyone in the logistics industry, the two couldn’t be more different. They may look the same from the outside, but there’s a vast difference in the internal operations and what responsibilities each are meant to fulfill. If you’re confused about whether you need warehousing or distribution center services, we’ll fill you in on the details.

What is a Warehouse?

A warehouse is a commercial building that’s used to store goods—they’re mainly used by manufacturers, importers, exporters, wholesalers, and transport businesses, to name a few. Warehouses are used for storage, and storage only. They’re usually large plain buildings in industrial areas. They have loading docks to load and unload goods, but that’s usually the extent of the activity that goes on in a warehouse. They can be designed to receive goods directly from railways, airports, or seaports, and are usually equipped with cranes and forklifts for moving and organizing goods. Some warehouses are temperature controlled, making them well-suited for storing groceries, other perishables, and other materials including raw materials, packing foods, spare parts, and more. While warehouses can be useful to some, not all retailers use them since they’re better suited for those searching for a more long-term storage option.

What is a Distribution Center?

A distribution centers is a specialized building that’s designed to store products for retailers and wholesalers, to be redistributed to another location or directly to customers. Distributions centers are an integral part of the order fulfillment process, especially for online retailers and e-commerce businesses. The normal route of transport is usually as follows: the retailer ships the product to the distribution center, and then the product is shipped from there to the customer. They’re usually thought of as being demand-driven, since products move in and out at a fast pace. Distribution centers are often located in areas that are easily accessible, like near main roadways and highways; this makes it easier for transport trucks to drop off and pick up items more efficiently. Many distribution centers are part of a larger network of distributors, set up to serve a large area.

Warehouses vs. Distribution Centers

When it comes to warehouse vs. distribution centers, your choice will depend on your specific needs. Both warehouses and distribution centers are virtually identical from the outside, but their inner workings are vastly different. In short, warehouses are more suited for those that need long-term storage and are not looking for items to be shipped out immediately. Distribution centers, on the other hand, are designed to see the fast intake and rapid shipment of items. While both of these options can be temperature controlled to store certain items, perishables like groceries are most commonly found in distribution centers since they’re not able to be stored for a long time. When you’re faced with the decision of choosing a warehouse vs. a distribution center, your answer should be clear, since they offer very different features.

Importance of Inventory Management

Importance of Inventory Management

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Few are the businesses that don’t rely on inventory. Even if yours is a service, rather than product-oriented enterprise, the chances are you have some need to move items through a supply chain.

It might be spare parts, consumable items, or perhaps equipment, but if it’s something you need to store and transport, then it requires treating as inventory and managing accordingly. Of course, if your company is providing products, the need to manage inventory efficiently is paramount. Just as customers are something on which your business depends, so is inventory.

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In the last section of this post, we looked at the importance of suppliers as a factor for business success. However, the way in which you deal with inventory once it passes from the suppliers’ hands to yours, will also make a huge difference in the fortunes of your business.

Why is inventory management so important? Primarily because it can dramatically affect working capital and potentially, cash flow too. If you want to reduce working capital within your business, you should certainly take the time to investigate inventory management and ask the following questions:

Is it possible to improve forecast accuracy to reduce the need for holding safety stock?

Can you find a way to reduce inventory holding costs?

Are you taking enough steps to prevent the costs of inventory obsolescence?

Are you achieving the shortest possible lead times from suppliers?

Can you speed up customer delivery lead times?

Are you losing money because of inventory shrinkage?

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The answers to these and similar questions will help you to secure business success by improving your working capital situation. You should also find that improvements in these areas will support increased levels of customer service and make your business more profitable.

Is CMA worth the time, effort and money spent?? What’s the value?

Here are 5 good reasons to go ahead.

1. Gold-Standard in Management Accounting

CMA is a much-respected designation in the corporate accounting world. CMA is an advanced professional certification specifically designed to measure the critical accounting and financial management skills.

2. Globally Accepted Management Accounting Certification

CMA is the most popular management accounting certification worldwide.

3. Better Salary

Let’s face it — we want to learn, but ultimately, we need the certification to get better-paid jobs. According to IMA, CMA holders earn 33% more than their non-certified peers.

4. CMA Skills are More Practical

80% of accountants end up in non-public accounting. The management accounting knowledge and skill is in fact more useful for these professionals. In fact, many dual CPA and CMA holders find the materials covered in CMA more interesting and practical in their daily work.

5. IMA Makes it Easy for Us

Unlike the CPA exam in which getting qualified is sometimes harder than passing the exam itself, IMA (the CMA exam administrator) make things clear, simple and organized for applicants. IMA openly welcomes international candidates with the exam offered in hundreds of locations worldwide. CMA candidates can focus on passing the exam, instead of getting stuck the bureaucracy and conflicting rules from different State Boards.

Sounds Great… But How Does This Benefit Me?

Let’s see if the CMA certification benefits YOUR career.

1. Can the CMA Certification Fetch You a Better Job?

Within the Finance department at J&J, the CMA is a highly regarded certification. The content of the CMA exam mirrors real-world applications used across the corporate finance and accounting functions.” – Ryan Perkins, CMA, senior financial analyst at Johnson & Johnson (Strategic Finance Magazine, April 2015)
The below mentioned fortune 500 companies are known to have CMAs in their key management roles:

  • 3M
  • Alcoa
  • AT&T
  • Bank of America
  • Boeing
  • Cargill
  • Caterpillar
  • ConAgra
  • Hewlett-Packard
  • Johnson & Johnson
  • Microsoft
  • Procter & Gamble
  • KeyCorp
  • Whirlpool
  • Saudi Aramco
  • Verizon
  • Xerox

You will notice that the majority are big, global corporations focused in manufacturing. If you have ever dreamt of working with any of the companies listed above then CMA is best for you

2. Are You Sure You Don’t Want to be an Auditor or Tax Accountant?

If you are rigid in your decision of building up a career in corporate accounting then CMA will enhance your profile and knowledge to a great extent in the field.
If you aspire to work in a public accounting firm, either as an auditor or in tax then CMA may not be good for you.

3. Is CMA Truly Valued in Where I Live?

The demand for CMAs is different in different regions across the US, and around the world.

Hope this has given you a further insight of how to benefit from CMA.

Join us if you want to get tips on how to plan, study and pass your CMA exam… on your first attempt!


CPAs = Black Belt Accountants

CPA, or certified accountants, are finance professionals who have achieved expertise beyond a “normal” accountant does. This is done through advanced education, training, experience and hard work.

If you are an accountant who aspire to become partners in the accounting firm or move up the corporate ladder, then CPA is the best way to achieve it.

CPAs Are Needed Everywhere.

Corporations, non-profit organizations and governments in every industry around the world look for CPAs to fill in their senior finance positions.
Additionally, if you are up for a raise against someone with equal background, work ethic, experience, but you have your CPA License, the promotion will most likely go to you. Firms invest thousands of dollars into helping you take and pass the CPA Exam because they highly value this designation.

CPAs Are Indispensable.

After the financial crisis, corporate accountability has become the number one concern for companies and their shareholders. Senior management relies on Certified Public Accountants for financial health and integrity of the corporations.

CPAs Are in Demand.

As a result of the Sarbanes-Oxley Act, workload in the accounting department of every corporation has vastly increased, leading to a shortage of accounting experts in a global scale. At the same time, 75% of current CPAs will retire in 15 years, based on a study by the AICPA. This creates a golden opportunity for you to jump into this important industry.

CPAs Are Paid Better.

A study by global recruiting agency Robert Half points out that CPA on average earns 10% better than non-CPA. Also, CPAs with 5+ years’ experience are paid $80-110K in public accounting firms.

Travel Opportunities

As globalization is on the rise, accountants and auditors who can embrace globalization and understand International Financial Reporting Standards will be needed all over the world. If you enjoy traveling, or would like to even spend your time living in another country for a year or two, becoming a CPA is the way to go. You won’t only get the opportunity to explore the world, but you’ll receive tons of great experience doing it which will only help your career.

We hope you found this hopeful and that we gave you another nudge in the right direction: that of CPA licensure. Not many jobs come with these amazing benefits, so make sure the CPA Exam is on your radar!

Ready to start working towards your CPA credential??

Write back to us or call us to get expert feedback about your queries related to the course

8 differences between CFA and CPA Programs

Define CFA

CFA is known as “Chartered Financial Analyst” Program is a professional certification offered by internationally recognized CFA Institute from USA, formerly known as the Association for Investment Management and Research (AIMR) for the investment and financial professionals.

CFAis a globally respected certification and is widely considered to be the gold standard in the field of investment analysis.It is a graduate level investment credential established in the year 1962 and awarded by CFA Institute, which is the largest global association of investment professionals.Presently there are more than 123,000 CFA charter holders working in 145 nations globally.

In that respect are three stages of exams with areas covering, such every bit-

  • Accounting
  • Economics
  • Ethics
  • Money Management
  • Security Analysis

The CFA level one test is conducted twice per year in the month of June and December.
The main areas such as-

  • Ethical and Professional Standards
  • Quantitative Methods, Economics
  • Financial Reporting &Analysis
  • Corporate Finance
  • Equity Investments
  • Fixed Income
  • Derivatives
  • Alternative Investments
  • Portfolio Management
  • Wealth Planning

The level 2 exam is only conducted once per year in the month of June.

The tier 3 exam is also only conducted one time per year in the month of June. It concentrates on effective wealth planning and portfolio management by involving the candidate to learn and know all the concepts and analytical methods in the entire syllabus.

To become a CFA charter holder, a candidate should ask one of the following educational requirements.He or she should have four years of professional work experience with a bachelor’s degree or should be appearing in the final year of the bachelor’s degree or combining of both professional work experience and education totaling should be about four years. Of the candidates those are undergraduate qualification, the bachelor’s degree shouldget completed before registering for the Level II exam. In addition to this educational requirement, the candidate should have an international passport, with completing the assessment in English, should require the professional conduct admission criteria, and should live in a country from where the candidate is participating.

Define CPA

CPA program is a certification of expertise in the area of accounting.Only those CPA professionals can supply an opinion to the public regarding publicly distributed financial statements.CPA is also known as a Certified Public Accountant is a professional certification offered by the American Institute of Certified Public Accountants in order to maintain industry wide professional standards.

The CPA’s basic function is to help business’s needs.CPA program includes such as-

  • Tax preparation
  • Financial statements
  • Financial planning
  • Forensic accounting
  • Internal auditing
  • Income tax

CPA, is an accounting professional who has passed the Uniform CPA examination and has also gained additional state certification and experience requirements. To become a CPA, the candidate shouldfulfil the following criteria such as-

  • Complete a college degree inaccountingsector
  • Should pass the Uniform CPA Examination
  • Should have a certain amount of professional work experience in accounting at least fortwoyears

The CPA exam is prepared and sorted out by the American Institute of Certified Public Accountants.The CPA examination has four sections such as-

  • Auditing and attestation
  • • Financial accounting and reporting
  • • Regulation
  • • Business environment and concepts

CPA examination also involves sections such as-

  • Writing skills exercise
  • Multiple choice questions
  • Case studies

CPA certified professionals are asked to fill in a minimum number of continuing professional training (CPE) courses in order to keep the CPA designation.CPA program eligibilityrequirementsvary from one to anotherstate,butrequiredsuccessful to complete the four partCPAexamination.

CPA professionals are well respected strategic business advisors and decision makers. They work as consultants on many situations that including taxes and accounting. A CPAprofessional is a trusted financial advisor who helps individuals, businesses, and other entities to plan and reach their financial goals to gain success.

Now 5 differences between CFA and CPA programs

There are certain differences between financial professionals and Accountants with their designations. Accountants and Financial personals are both important members of the financial area, but sometimes the distinctions between the functional area performed by both the professionals are indefinite this makes the difference and distinguishes a CPA from a CFA.

1 Stands for Charted Financial Analyst Stands for Certified Public Accountant
2 Administered by CFA Institute Administered by American Institute of Certified Public Accountants
3 Professionals should maintain strict codes of conduct and high standards of ethics and integrity. Professionals should meet state’s requirements for membership into the institute’s ranks.
4 Professionals are likely to receive and analyze reports produced by a CPA or other accountant. Professionals involved in tax reporting and filing
5 Professionals recommend to their clients on how to invest on securities on the basis of public companies annual report that are prepared by CPA professionals. Professionals helps clients and companies in terms of minimizing taxes and maximizing profitability
6 A professional analyzes the growth and profitability of companies and their creditworthiness and the amount of debt they carry. Professional’s advices on different forms of business companies and the benefits and advantages of each in different situations.
7 Professionals are qualified to perform personal financial planning and wealth management. Professionals are trained to advise clients who have been audited or require audited reports.
8 If a client has a large sum of money and wish to invest, then he should hire a CFA pers If a client needs help preparing their taxes, then he should hire a CPA personal.
Industry recognition is good. Industry recognition is very excellent. Industry recognition is moderate.


As per the above table, both the programs have its own distinct level of functions which is very important to maintain the financial areas of any individual person or a company for their business growth. Hope this article may help and understand to know the various differences between CFA and CPA programs in the area of finance. To know more about CFA and CPA programs and get registered logon to our website URLs.

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Best Social Media Management Tools for Small Business

About Social Media Management Tools

Social Media Management Tools are the tools which preserve and rule all works for Social Media. It allows monitoring and engaging across all your Social Profiles. It provides a report to make sure what you are doing is successful. The main criteria are to choose the right Social Media Management Tool which is a more complex decision. Should decide on one that supports your Social Networks, thinking about things like how many people are going to be managing your Social Channels and what budget can be justified.

In today’s Digital Business World, Social Media is the best one way for the business to stand out in its field and to make a larger scale audience or clients.Holding an active presence on all major social networks, from Facebook to LinkedIn and more, it is a necessity or must require for any brand which wants to become an industry leader by engaging with its potential and current customers in new different business options or ways.

There are good benefits of Social Media Marketing, which helps to boost the business in the Online Digital World like-

  • Increasing in Brand Recognition.
  • Improvisations in Brand Loyalty.
  • More opportunities to get convert to Sales.
  • Getting higher conversion Rates in Sales.

So now to make a complete plan on Social Media and Marketing, we need tools which can help in following areas like –

  • Web Analytics.
  • Social Media Posting.
  • Content Discovery.
  • Security & Password Management.
  • E-mail Marketing.
  • Lead Generation.
  • Content Marketing.

There are some of the best Social Media Management tools currently available for small business and how they can help to make the most of your social presence. They are –

  • HootSuite –
  • Whether handling multiple accounts, or an office that handles hundreds, HootSuite tool makes it leisurely. Here it is easy to

    • Add Accounts.
    • Schedule Posts across all Major Platforms.
    • Add Account Managers.
  • MeetEdgar-
  • This tool has the biggest impact on traffic by automatically re-sharing the content,buildsan unlimited categorized online library of social updates for personal and business accounts. It can even create updates for using RSS feeds from the favourite sites. It sends updates to Facebook, Twitter, LinkedIn and more along a schedule chosen, so can absorb with your client with less work to be executed.

  • TweetDeck-
  • It is one of the best priced ways out there to be a function of the Twittersphere.The multi columned layout makes it leisurely to watch over several conversations at instant and also scheduling content.Twitter moves very fast, but TweetDeck makes it viable and satisfying.

  • IFTTT-
  • The abbreviation is “If This Than That” it is a great automation tool that can help to keep a heap of time on testing to manage Social Media Platforms, Apps and Websites.This tool can connect services together based on a trigger and an activity. Based on the trigger created, it will start an action or a tweet.

  • Buffer-
  • It lets to schedule and do social media posts across all of the most widely used channels, and can individually customize each post for all of the different platforms it gets sent to.It also shares content at the best possible times throughout the day and tracks links so that we can consider what content draws the most grip.

  • Sprout Social-
  • It is utilized for its social media management, which allows the team members to monitor client’s or customer’s Social Media Mentions, engage with Brand Advocates, schedule content in advance, and utilizes reporting tools to inform future strategies. It is a tool to streamline real-time communication.

  • Agora Plus –
  • This instrument is the most robust and potent and very sound value for money. It integrates with Twitter, Facebook, Instagram, LinkedIn and Google+ also includes full reporting, team users, scheduling, competitor analysis, auto moderation tools.

  • Google Analytics-
  • It is a totally free enterprise analytics product.Means it does not just tell how many hits have to your website. It states how many actual visitors you have, where they’re from, how long they stay on the site, where they come from and much more.It too bears a very solid built in social media analytics report.

  • Bitly-
  • It is a URL minimizer which takes a long web address and turns it into something much shorter. It is used on a social network that has a limited number of characters such as twitter, which only use a maximum of 140 characters. It is very largely used and has great analytics. Can easily view how many times a link in a tweet has been ticked as well as what network they were practicing. Can even customize the look of short URL by adding a custom URL shortened with bit. ly.

  • Feedly-
  • It can be practiced in a browser or on a mobile.Can deliver an article for future exercise or immediately share to Buffer or other Social Network.It permits to easily sharing to all Social Networks throughout the week.

  • MailChimp-
  • It is an email marketing and newsletter service with a long and established track record.It sends out around 4 billion emails and takes care of all the issues that can arise from sending out emails to the customers.Building up our own database of email contacts is full of life for the majority of small concerns.

    It gets this so easy and over time can add more information such as age, gender, position etc.It also has detailed analytics, can track when the recipients open the email or click through to our site.

  • LastPass-
  • It allows receiving a top security across all social nets and never has to remember more than one password.It works in browser or on a mobile device. Once enter LastPass password, it automatically fills in all usernames and passwords so never have to recall them once more.Can also do the LastPass Password ask to see how secure are you? It can even generate ridiculously complex passwords.

  • edocr –
  • It’sa document sharing service. When an e-book is uploaded to adore, you will then appear in the edocr directory and will be searchable for any edocr user on the web. When an edocr user reads the e-book you get notified by email and then able to follow up on that leash. Can link edocr profile with Google+ which means that Google will list your e-books with you as an author. Can opt for the free report which gives space for 5 documents.

  • ManageFiltter-
  • It is a Twitter follower tool. It allows to quickly see who isn’t following you and then having the option of unfolding these people in bulk. Can find try and remove out spam followers or irrelevant followers that just clog things up. The whitelist is a feature which adds all the people never wanted to unfollow people whom to interact with regularly and want to keep in touch, to the Manage Flitter. Can able to follow people that someone else follows.

  • –
  • It is a social media relationship management tool. It helps to find out who is in your Twitter community, those who support you and your content and those who act upon you.It’s been a huge time saver.Can find who has unfollowed you and decide whether or not want to unfollow them as well.It interacts with people who are speaking about your business or brand using the monitor engagement list. The core features of common. it is free.


These are the few above Social Media Management Tools that almost all small commercial enterprises should be utilising to create their business get success and to grow in future.Hope this article will make you cognize and understand best Social Media management tools used for small business. To know more in details gets registered and log on to ourwebsite URL: