What is Hercules (HERC)?
Hercules blockchain software tracks physical inventory in a supply chain with a digital source to store and review auditing information. The HERC software access token is designed to erase ongoing problems in centralized supply chain management such as:
- Frequent supply shortages.
- Low order-filling and inefficient logistics rates.
- Lack of end-to-end visibility and counterfeiting of assets.
- Compromise of quality and high operational costs.
- Ineffective supply chain risk management.
- Lack of collaboration among different entities.
- Limited access to data about the state of entire supply chain networks.
Why Use Blockchain in Supply Chain Management?
Blockchains create a permanent and shared record of every transaction associated with an asset to create an unbroken chain of trust. Each record is time-stamped and appended to the event before it. Using Blockchain has the potential to improve tasks such as:
- Tracking purchase orders, receipts, shipment notifications, or other trade-related documents.
- Recording the quantity and transfer of assets as they move between supply chain nodes.
- Assigning or verifying certifications or certain properties of physical products.
- Linking physical goods to serial numbers, barcodes, digital tags like RFID, etc.
- Sharing information about manufacturing process, assembly, delivery, and maintenance of products with suppliers and vendors.
How HERC Works
Users can easily insert data modules containing information e.g. photos, scientific data, audit reports, legal opinions, or custom data which is stored on the blockchain. All entities can access this data for independent verification. With Hercules, you can enjoy supply chain management at its best.
- A coordinated effort which strengthens the market and increases efficiency in supply chain management.
- Up-to-date digital data storage.
- Better access to cutting-edge supply chain management and trend analysis data for more accurate forecasting.
- Identification of issues faster to eliminate fraud and errors.
- Increased consumer and partner trust.