Blockchain-Based Supply Chain Management for Enhanced Transparency and Efficiency
DOI:
https://doi.org/10.63282/3050-9262.IJAIDSML-V1I1P103Keywords:
Blockchain, Supply Chain Management, Transparency, Traceability, Smart Contracts, Distributed Ledger, Data Security, Consensus Mechanism, Automation, Real-Time MonitoringAbstract
Supply chain management (SCM) is a critical component of modern business operations, encompassing the planning, execution, control, and monitoring of supply chain activities to create net value, build a competitive infrastructure, leverage worldwide logistics, synchronize supply with demand, and measure performance globally. However, traditional supply chain systems often suffer from issues such as lack of transparency, inefficiencies, and security vulnerabilities. Blockchain technology, with its inherent properties of decentralization, immutability, and transparency, offers a promising solution to these challenges. This paper explores the integration of blockchain technology into supply chain management to enhance transparency and efficiency. We present a comprehensive overview of the current state of supply chain management, the challenges it faces, and how blockchain can address these issues. We also propose a blockchain-based supply chain management framework, discuss its implementation, and evaluate its performance through case studies and simulations. Finally, we outline the future directions and potential research areas in this domain
References
[1] Nash, K. S. (2016, July 14). IBM pushes blockchain into the supply chain. The Wall Street Journal. https://www.wsj.com/articles/ibm-pushes-blockchain-into-the-supply-chain-1468500001
[2] Corkery, M., & Popper, N. (2018, September 24). From farm to blockchain: Walmart tracks its lettuce. The New York Times. https://www.nytimes.com/2018/09/24/business/walmart-blockchain-lettuce.html
[3] Gstettner, S. (2019, July 30). How blockchain will redefine supply chain management. Knowledge at Wharton. https://knowledge.wharton.upenn.edu/article/blockchain-will-redefine-supply-chain-management/
[4] Lewis, N. (2019, June 5). Could blockchain help you become a more ethical shopper? CNN. https://www.cnn.com/2019/06/05/business/blockchain-ethical-shopping/index.html
[5] Chhabra, E. (2019, January 31). The WWF backs blockchain to unpick messy food supply chains. The Guardian. https://www.theguardian.com/environment/2019/jan/31/the-wwf-backs-blockchain-to-unpick-messy-food-supply-chains
[6] Canellis, D. (2019, July 2). Nestlé plans blockchain pilot for its palm oil, but it won't run on IBM tech. The Next Web. https://thenextweb.com/hardfork/2019/07/02/nestle-blockchain-pilot-palm-oil/
[7] Baird, L. (2019, September 17). WWF food tracking blockchain app raises $4M. Australian Financial Review. https://www.afr.com/technology/wwf-food-tracking-blockchain-app-raises-4m-20190917-p52s5k
[8] Khatri, Y. (2019, September 17). BCG Digital's blockchain supply chain startup OpenSC raises $4M in seed funding. The Block. https://www.theblockcrypto.com/post/40016/bcg-digitals-blockchain-supply-chain-startup-opensc-raises-4m-in-seed-funding
[9] Taylor, M. (2019, January 17). Want to buy ethical food? Scan with your phone for fast facts. Reuters. https://www.reuters.com/article/us-food-blockchain-idUSKCN1PB0X9
[10] Redmayne, J. (2019, January 23). From bait to plate: Blockchain platform tracks food's journey. Reuters. https://www.reuters.com/article/us-blockchain-food-tracking-idUSKCN1PH1E1
[11] Baker, A. (2019, September 23). Impact tech venture OpenSC raises $4 million in funding. Pulse 2.0. https://pulse2.com/impact-tech-venture-opensc-raises-4-million-in-funding/
[12] Cox, L., & Zhou, N. (2019, January 17). Tracking technology to reveal whether food produced legally and sustainably. The Guardian. https://www.theguardian.com/environment/2019/jan/17/tracking-technology-to-reveal-whether-food-produced-legally-and-sustainably
