Elementh What Every Business needs to Grow and Prosper
The Existing business model
I have a friend named Ramen. A few years ago he started a has a hardware store. Initially he would work hard in finding the rates for the various supplies for his store, placing orders, taking stock of inventories, arranging things properly in his store and attending to his customers.
When he started his business his was the only store in the locality thus it became popular very soon. With increasing business Ramen hardly gets time to mange the store or the inventories. His store looks a lot like this
Except that his store is a lot less organized. source
Then when his business started doing well all his time got consumed in managing clients. So he buys his supplies from agents who periodically frequent his store. Agents come to his store to book orders and after a week or 10 days they supply the goods.
Ramen has a practice of noting down the requirements on a paper register and based om this he places his orders. When the supplies come, Ramen's staff add the received goods to the existing pile of goods on the shelf’s. As a result a lot of times the new supplies gets stacked on to the old ones.
So the old stock never gets sold and often goes past its best use by date (expiry date).
Another issue is that at any given point there is no ready inventory available to Ramen about the goods available. Often he and his staff search endless through his store for a particular product only to find that it got sold out some time back. This causes a waste of time and dissatisfied clients.
He at such times makes frantic calls to suppliers for quick delivery. At times these last minute calls result in delivery of the wrong product or in inadequate quantity.
The last time I was at his store he placed an order for 5 cans of white paint and what arrived was only 3 cans and one of them was past its expiry date which the customer had brought back to exchange.
All this causes loss of face and business.
There is no certain way for check if the products that he sells are genuine or counterfeit.
All those clients who used to flock to his store as their first choice to procure supplies have started looking for alternatives.
No certain way of finding if he is getting his supplies for the best price
As he buys from the suppliers who are coming to him he has no certain idea as to if this is the best price at which he can procure his supplies.
Ramen wants to extend his business and go online so he got a computer and started doing the billing using the computer. However when it came to managing the inventory he had a big problem, There were more then 5000 products in his store. He finds it difficult to create product cards for all the products that exists in his store.
In the current state of affairs Ramen has 2 options a) spend time managing inventories or b) Spend the time dealing with clients.
He opts for option b) as this gives him money to run the business, pay the salary and take the business forward. Though this is not the most efficient model but that is how it is.
So what is the solution to all the problems that Ramen faces?
Enter Elementh and everything is about to change.
It is a way to manage your inventory buy cheap and sell at the right price.
Making Product information accessible to the involved entities is the main focus of Elementh. To facilitate this it provides universal product cards easily accessible. It adopts a nomenclature where each product in the system has a unique id and tagged to it is the product description. Backed by a blockchain it logs each transaction as a product passes through the hands of different people from the manufacturer to the buyer.
Elementh gives businesses the ability to place order and track their orders in an efficient way.
Elementh also lets the retailer and developer build their own applications with the built in language to both track their products and purchase products using smart contracts.
On first glance it may appear to be an e-commerce platform but it offers much more to the users.
With Elementh one can use the universal product cards to manage inventories. The use of these cards would make the life of Ramen and so many businesses like his manage their businesses better.
A unique product card and detailed description of every product in the ecosystem are the hallmark of Elementh platform. Any business on the Elementh platform can access this data and place orders using DAPPS.
Elementh is an environment where one can procure supplies and track them. It also lets you built the applications over the Elementh blockchain.
Let us see how Ramens could benefit from the features and benefits that Elementh has to offer.
Decentralized marketplaces based on Elementh
No need for Ramen to restrict himself to a couple of suppliers instead he has access to a completely decentralized marketplace where trading is transparent and gives him access to information that helps him identify the fake from the genuine products. Universal product cards is a built in feature that helps him identify the genuine products from the counterfeit ones.
Tracking the movement of goods
From the moment an order is placed Ramen would be able to track and find when the goods would arrive at his store.
Search for goods by geolocation
Ramen can search for suppliers that are closest to him in terms of location.
Tracking the movement of goods
Elementh is based on a blockchain so all the movements of products from the supplier to the end destination is tracked and logged so Ramen is aware of the path the products are taking. This gives Ramen better control of his business.
Decentralized sending of messages
Ramen can send messages to sellers, enquire, discuss strike a deal or take part in an auction.
Store designer
Taking his business online is what Ramen had in mind ever since he started his business but starting an online business has become really easy with Elementh. Not only does Elementh let you start an online business but it also get a better grip of supplies and inventories so that he can focus on selling.
Fakes search
Ramen can check the authenticity of each product he orders to find if it is antithetic.
Banking scoring
Since each transaction is transparent and logged on the blockchain thus following fair business practices and honoring business commitments helps boost the credit ratings of Ramen.
Banks and financial institutions can use this feature to access the credit ratings based on which overdraft can be given to Ramen.
Different verticals
The Elementh blockchain is a flexible solution suitable not just for Raven's business but for any other business as well be it hotel, airline ticketing ,coupon or voucher business.
Elementh is being run as a not for profit organization.
Participating in the token sale is a good way to benefit from a market growing at a phenomenal pace.
More Information & Resources:
- Elementh Website
- Elementh WhitePaper
- Elementh YouTube
- Elementh BitcoinTalk Forum
- Elementh Medium
- Elementh Facebook
- Elementh Twitter
- Elementh GitHub
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