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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.

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Using Midaz

  • Assets: Each item in the supply chain, from raw materials to final products, can be set up as an Asset with unique identifiers.
  • Portfolios: For each supplier and warehouse, create a portfolio that will be used to manage and track the flow of materials and goods.
  • Accounts: Within each supplier’s and warehouse’s portfolio, create accounts for different stages of the supply chain. 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.
  • Transactions: 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.
  • 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.
  • Compliance and audits: Midaz’s immutable ledger ensures that supply chain records are secure and ready for audits, meeting regulatory requirements and standards.