Supply Chain Innovation
Supply chains are on the eve of a revolutionary change fuelled by advances in Contract Theory, a branch of theoretical economics, and the adoption of blockchain technologies.
The economist write in its publication rebooting supply chains -
The rules of global trade are shifting and companies will need to make sure their supply chains have the agility and resourcefulness to deal with potential challenges and disruptions that may lie ahead. Questions remain about whether the pace of globalisation will slow considerably, shift its direction or possibly reverse.
As economists have worked out now that transparency is the key to solving contract theory problems, we have a solution to the well known bullwhip effect by implementing contract theory onto blockchains.
Zillerium is a project doing exactly that.
Can you share with me more about the contract theory? From what I see majority of SC are still using the old outdated calculations, mistrust of the supply chain colleagues and using push approach instead of pull approach. Not even talking about internal productions in the factory.