Application of Blockchain in Supply Chain Management


EOI: 10.11242/viva-tech.01.05.001

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Citation

Himanshu Mishra 1, Soham More2 ,"Application of Blockchain in Supply Chain Management", VIVA-IJRI Volume 1, Issue 7, Article 1, pp. 1-14, 2023. Published by Master of Computer Application Department, VIVA Institute of Technology, Virar, India.

Abstract

This research paper explores the application of blockchain technology in supply chain management to address challenges related to transparency, traceability, and trust in the modern globalized economy. The adoption of blockchain in supply chains offers a decentralized and secure framework for recording, verifying, and sharing transactions across a network of participants. The study delves into the key features of blockchain, including immutability, transparency, and smart contracts, and examines their role in enhancing the efficiency and reliability of supply chain processes. Through a comprehensive review of existing literature and case studies, the paper identifies the potential benefits of blockchain in mitigating issues such as counterfeiting, fraud, and inefficiencies within supply chains. The research investigates various blockchain implementations and their impact on different stages of the supply chain, from raw material sourcing to product delivery. Additionally, the paper discusses the challenges and limitations associated with integrating blockchain technology into established supply chain systems. In conclusion, this research contributes to the growing body of knowledge on blockchain applications in supply chain management. It highlights the transformative potential of blockchain technology in creating more resilient, transparent, and trustworthy supply chains, paving the way for future advancements in this critical domain of business and logistics.

Keywords

Blockchain,Supply Chain Management Transparency, Traceability,. Trust, Smart Contracts, Decentralization, Counterfeiting, Fraud Prevention, Immutability. Intermediaries, Logistics, etc

References

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