A manufacturing company can leverage Midaz to maintain a transparent, secure, and efficient record of its supply chain operations. This includes tracking raw materials, production stages, inventory levels, and finished goods.

Benefits

• Transparency and Traceability: Ensures that every step in the supply chain is documented and traceable.
• Efficiency: Enhances supply chain management by providing real-time updates on inventory and production stages.
• Security: Maintains the integrity and security of supply chain records, preventing tampering and ensuring data accuracy.

By using Midaz for supply chain management, manufacturing companies can improve the reliability, transparency, and efficiency of their operations, leading to better decision-making and resource management.

Using Midaz

Step 1: Create Raw Materials and Finished Goods as Assets

Use the Create an Asset endpoint to add entries for various raw materials and finished products. Each item in the supply chain, from raw materials to final products, can be set up as an Asset with unique identifiers.

Step 2: Create Supplier and Warehouse Portfolios

For each supplier and warehouse, create a portfolio using the Create a Portfolio endpoint. These portfolios will be used to manage and track the flow of materials and goods.

Step 3: Create Accounts for Supply Chain Stages

Within each supplier’s and warehouse’s portfolio, create accounts for different stages of the supply chain using the Create an Account endpoint. For example:

• Raw Materials Account: Tracks the amount of raw materials supplied or held in the warehouse.
• In-Production Account: Monitors materials currently in the production process.
• Finished Goods Account: Records completed products ready for distribution.
• Shipment Account: Tracks items in transit to customers or other warehouses.

Step 4: Manage Transactions for Each Stage

Use transactions to update accounts as materials move through each stage of the supply chain:

• Receiving Materials: When raw materials are received from a supplier, a transaction moves the entry from the supplier's "Raw Materials" account to the warehouse's "Raw Materials" account.
• Production: During production, materials are transferred from the "Raw Materials" account to the "In-Production" account.
• Production Completion: Upon completion, items are moved from the "In-Production" account to the "Finished Goods" account.
• Shipping: When goods are shipped, transactions move items from the "Finished Goods" account to the "Shipment" account.

Step 5: Generate Supply Chain Reports

Use Midaz to generate detailed reports, covering current inventory levels, production output, and shipment status. These reports can assist in maintaining stock levels, planning production schedules, and managing logistics.

Step 6: Ensure Regulatory Compliance and Enable Audits

Midaz’s immutable ledger ensures that supply chain records are secure and ready for audits, meeting regulatory requirements and standards.