Blockchain Enabled Supply Chain Management

Block chain is the basis of all cryptocurrency in the world like Bitcoins. Block chain is used for transactions of bitcoins globally without the use of any third party medium. As the internet is used for global decentralized communication, in the same way block chain is used for decentralized transactions globally. It helps in saving the supplier and consumer ends from third party involvement, tolerance network, prevention of data manipulation, and reduction in operational costs. It was first invented in 1991 and later reintroduced to the world in 2008 by Satoshi Nakamoto and now after a decade later with block chain 2.0 it is expected to be not only used in cryptocurrency but also in electronic industry in the supply chain management, electronics manufacturing industry and power and energy system. Block chain is considered as the new form of information technology that could revolutionize technology, industry, and commerce and make it a transparent, safer and reliable place. Blockchain's has a limitless potential for recordkeeping in decentralized form. From greater user privacy and heightened security to lower processing fees and fewer errors, due to less human intervention, this technology can be introduced in many applications in the future.

IJRASET, 2021

DSlesinger and M. Stephenson in the Enclyclopaedia of Social Sciences define research as "The manipulation of things concepts or symbols for the purpose of generalizing to extend, correct or verify knowledge, whether that knowledge aids in construction of theory or in practice of art" Research thus is an original contribution to the existing stock of knowledge making for its advancement. In short, the search for knowledge thorough objective and systematic method of finding solution to a problem is research.[1] This paper is written with the purpose exploring a possible use case of blockchain technology in supply chain management which has the potential to solve many of the existing problems related to the industry along with the scope of improving the same for better. Starting with the introductions of the technologies involved, the paper proceeds to discuss the limitations of supply chains in current scenario and then propose a method in which the adoption of this technology could take place followed by the limitations and hurdles associated with the adoption of this technology.

IEEE Open Journal of the Computer Society, 2020

Providing transparency and trust among participants and stakeholders and ensuring an efficient operation are current supply chain challenges. These challenges are difficult to resolve because the records of supply chains may be exposed to alterations by participants. Blockchain technology has been identified as a promising solution to resolve these challenges. In this paper, we introduce blockchain and survey recent blockchain frameworks that address some of the supply chain challenges. We describe the components and operation of these blockchain frameworks. We identify the objectives and motivation in each of the surveyed use cases and highlight the advantages and disadvantages of each adopted framework. We analyze how the reported blockchain frameworks address different supply chain challenges. We present a comparative summary of existing literature on blockchain for supply chain. We also summarize the properties of a blockchain framework for its successful adoption in future supply chains and discuss several remaining challenges and opportunities.

Procedia Computer Science, 2021

Supply chains have become increasingly complex, making it difficult to ensure transparency throughout the whole supply chain. In this context, first approaches came up, adopting the immutable, decentralised, and secure characteristics of the blockchain technology to increase the transparency, security, authenticity, and auditability of assets in supply chains. This paper investigates recent publications combining the blockchain technology and supply chain management and classifies them regarding the complexity to be mapped on the blockchain. As a result, the increase of supply chain transparency is identified as the main objective of recent blockchain projects in supply chain management. Thereby, most of the recent publications deal with simple supply chains and products. The few approaches dealing with complex parts only map sub-areas of supply chains. Currently no example exists which has the aim of increasing the transparency of complex manufacturing supply chains, and which enables the mapping of complex assembly processes, an efficient auditability of all assets, and an implementation of dynamic adjustments.

Mehmet akif ersoy üniversitesi sosyal bilimler enstitüsü dergisi, 2024

Blockchain technology, which is impossible for people and businesses to ignore and brings great changes at the sectors where it is used, contributes to the solution of many problems at businesses. However, it has not been applied in the field of supply chain and logistics to the expected extent and there are the limited number of studies in the literature on this subject compared to other fields. In this context, the aim of the study is to explain blockchain technology in detail, to ensure that the technology is fully recognized, to create awareness on businesses by explaining its benefits with examples of use in supply chain and logistics activities, and to contribute to later researchers by identifying the gaps in the literature by analyzing the literature. As a result of the exploratory research, it was determined that blockchain technology contributes to the solution of many problems, especially reliability, cost, flexibility, delays, transparency, and low performance. Considering the result of the literature analysis, it has been concluded that academic studies on blockchain technology in the field of supply chain and logistics are not sufficient, and the number of these studies should be increased in order for the technology to be learned and used by more businesses in the relevant field.

International Journal of Scientific Research in Computer Science, Engineering and Information Technology, 2020

In today's world, blockchain-based systems are in demand across various industries, especially in transportation and supply chain, because of its secure, trusted, and decentralized network as well as more efficient than the traditional methods. However, the traditional ways these days are facing a lot of issues and challenges because of the complex and less secure network. Blockchain network integration overcomes the problems faced by traditional methods across industries. The Blockchain integrated network provides benefits such as a reduction in cost, scalability, improve efficiency by connecting the links between the flows, increase Transparency, the trace of the product. Although the blockchain-based systems provide various benefits, due to lack of knowledge about this technology, the implementation rate is low. In this work, it highlights the distinction between the traditional transportation and supply chain as well as Blockchain network-based transportation and supply chain and the benefits of implementing Blockchain in different sectors such as health care, insurance, food industry, retail. This work highlights the issues and challenges faced by the industries, by using the traditional methods as well as the solutions to the problems provided by the blockchain network-based systems to those industries. This work helps the people to understand the benefits of blockchain network-based systems in their respective industries as well as execute it to improve the Transparency, efficiency, and security of altogether system.

The technological changes in recent years have played a major role in changing the rules in business life. After technological innovations such as autonomous tools, the Internet of Things, and industry 4.0, the new issue that has emerged with crypto money today is Blockchain technology. A blockchain technology is a peer-to-peer digital ledger of transactions that may be publicly or privately distributed to all users and therefore is said to be decentralized and distributed. The most important feature that distinguishes block-chain-based technologies from other technologies is that it has a special algorithm without being connected to any center. Therefore, this technology makes a significant difference in supplying fast, secure and accurate information flow among supply chain members. Reducing the costs and time that arise in the supply chain, it provides significant advantages to enterprises such as the transparency of the operations performed. The purpose of this study is; to explain the block chain technology and to contribute to supply chain processes and stakeholders. In this context, the study is considered as literature review. The study is important in terms of contributing to the relevant literature in basic level. Öz Son yıllarda yaşanan teknolojik değişiklikler, iş hayatında alışılagelmiş kuralların değişmesinde büyük rol oynamaktadır. Otonom araçlar, nesnelerin interneti ve endüstri 4.0 gibi teknolojiye bağlı yeni gelişmelerden sonra günümüzde özellikle kripto paralarla birlikte daha fazla öne çıkan bir konu da blok zinciri (Blockchain) teknolojisidir. Blok zinciri teknolojisi; bir ağ ortamında veri bloğunun ağa giriş izni olan tüm kullanıcılar tarafından, aynı anda takip edilebilirliğini sağlayan veya özel olarak tüm kullanıcılara dağıtılabilen ve bu sebeple merkezi olmayan, değişmez bir dağıtık veri tabanına kalıcı şekilde kaydedilmesini sağlayan şifrelenmiş bir dosyalama sistemidir. Blok zincir temelli teknolojileri, diğer teknolojilerden ayıran en önemli özellik ise herhangi bir merkeze bağlı kalmadan özel bir algoritmaya sahip olmasıdır. Dolayısıyla bu teknoloji, tedarik zinciri üyeleri arasında hızlı, güvenli ve hatasız bir şekilde bilgi akışı sağlaması konusunda önemli bir fark yaratmaktadır. Tedarik zincirinde ortaya çıkan maliyet ve zaman gibi unsurları azaltarak, gerçekleştirilen işlemlerin daha şeffaf olması gibi işletmelere önemli avantajlar sağlamaktadır. Bu çalışmanın amacı; blok zincir teknolojisini açıklayarak, tedarik zinciri süreçlerine ve paydaşlarına sağlayacağı katkıları ortaya koymaktır. Bu kapsamda çalışma, literatür incelemesi olarak ele alınmıştır. Çalışma, konu ile ilgili literatüre temel düzeyde katkı sağlaması bakımından önem taşımaktadır. Introduction The virtual currency Bitcoin, which was introduced in 2008, is becoming more popular and therefore the interest in Bitcoin technology increases gradually. Blockchain technology is an innovation which is considered to be at the center of Industry 4.0 revolution and it became part of our lives. With the innovations provided, Blockchain technology has achieved in attracting various sectors. The fact that this technology is a decentralized and scattered data network makes it traceable by all the participants. Although the fact of clear visibility of data has increased the attractiveness of it, the structure of the system that prevents any manipulation has made it very secure. In the broadest sense, Blockchain eliminates the existence of an authority or a central network, and allows the user to monitor the data on the Internet by himself/herself. Blockchain is a decentralized

Blockchain is a technological concept which evolves from the first cryptocurrency, Bitcoin, and disrupts constantly enlarging areas of economy. The concept of blockchain is developing, and while the future of Bitcoin remains unclear (as it is for the most elements of the economy) it is evident that the blockchain holds enormous potential for large-scale improvements. However, being a technology that could decrease significance many of today's large global corporations, institutions and power structures which have keen interest in preserving established hierarchies, its potential could well remain unexploited. This paper aims to introduce and present the concept of blockchain and its current applications in logistics and supply networks. Blockchain technology promises overpowering trust issues and allowing trustless, secure and authenticated system of logistics and supply chain information exchange in supply networks. The new implementations within supply chain are shifting from blockchain to a wider notion of distributed ledger technologies. Paper presents description and rationale behind current and possible future applications of blockchain in logistics and supply chain.

2019

The supply chain can span over hundreds of stages, multiple geographical (international) locations, a multitude of invoices and payments, have several individuals and entities involved, and extend over months of time. Manufacturers and consumers can benefit by tracking the movement of parts throughout the supply chain. Due to the complexity and lack of transparency of current supply chains, there is interest in how blockchains might transform the supply chain and logistics industry. Blockchain technology can bring transparency and efficiency to supply chain recordkeeping by providing a permanent, secure record of transactions that are then grouped into "blocks". Transactions are recorded only after consensus among participants, and the blocks cannot be removed or altered after the event. Although the blockchains and supply chains are used by several industries, in order to manage the scope of the research this paper focuses their use on the two industries – food and pharma...

2021

The supply chain connects organisations, resources, activities, people, and information in order to transform natural resources and raw materials into a finished product for delivery to the ultimate client. The complexity of supply chains and value networks has increased over time. These complexities add a huge cost to the participants of supply chain, which is ultimately borne by the customer. The existing infrastructure also fails to provide desired amount of transparency and traceability into the supply chain. The blockchain technology is a revolutionary concept that can overcome the problems in the existing infrastructure to build trust, provide transparency and traceability across the supply chain value network. This paper is a survey of various blockchain based solutions that have been proposed to be implemented in various fields of supply chain management. This paper also briefly discusses the application of this technology in various sectors.

2020

Blockchain and Supply Chain Logistics "Essential reading for anyone who wants to understand why blockchain technology is critical to next generation supply chain infrastructure. We are just at the beginning of this exciting journey. This book provides real world use cases in food, healthcare, transportation, retail, manufacturing, even reverse logistics, while explaining the challenges and potential pitfalls. It is a window into our future."-Sandra Ro, CEO Global Blockchain Business Council, USA "Since people began seriously commercializing blockchain-related technologies about five years ago, Supply Chains have been one of the fastest moving applications. This is one of the first pieces of published research that shares how Blockchain Supply Chains are working, what are the benefits, implementation challenges and further research needs. This book has been written for students, but will be of interest for anyone interested in technological innovation, government and industry. The book is especially timely during the Coronavirus Pandemic as we have seen in stark reality the fragility and lack of transparency in international supply chains."-Dr. Jane Thomason, CEO of Fintech Worldwide "A timely book on blockchain dealing with various aspects of the supply chain. An easy to read book with many applications and illustrations. I highly recommend it."

Lecture Notes in Management and Industrial Engineering book series (LNMIE, 2022

Blockchain technology offers important opportunities for the supply chain management. This paper aims to overview the employment of blockchain technology in the field of the supply chain. Although the technology has been widely associated with cryptocurrencies, non-financial applications such as supply chain, power, and food industry are also promising. Blockchain can provide a permanent, shareable, auditable record of products through their supply chain, which improves product traceability, authenticity, and legality in a more cost-effective way. In this chapter, the potential improvement expectations via blockchain technology for the case of agribusiness were discussed. The proposed case for automotive manufacturing-micro factory with blockchain technology was also introduced.

2021 IEEE Asia-Pacific Conference on Computer Science and Data Engineering (CSDE), 2021

Most of the leading companies of the world are investing heavily in a computerized system to maintain their supply chain management. From collecting manufacturing equipment all the way to final delivery, products are being tracked by supply chain management software. Supply chain institutions also use their own separate software to maintain confidentiality. Despite this huge investment in digitizing the supply chain system, complete visibility of a product at any given time is not fully achieved. Quality issues, information mismatch, slow cash flow is still hampering the whole supply chain management and financing ecosystem. Companies involved in a supply chain maintain their own databases and the same information might get altered in different data storage or might as well contain redundant or missing information. This situation can create conflicts between parties involved in the supply chain. Thus protecting authentic information throughout the supply chain management still holds a huge challenge along with maintaining the quality of products. Knowing all the information in real-time such as location, ownership status, product status etc. within the involved parties is still not fully attained by the existing systems. As all parties of a supply chain system have their own standalone software, realtime communication amongst this software developed in different platforms using different technologies is not relatively feasible. By taking advantage of this situation, other illegal parties can inject counterfeit products in the supply chain. This can be a significant threat not only to the company's revenue but also to its public image. In this paper, we propose a thoughtful framework to implement a unique decentralized ecosystem powered by the new emerging innovative technology called blockchain for the whole supply chain system.

Sustainability

In the era of the fourth industrial revolution, all aspects of the industrial domain are being affected by emerging technologies. Digitalization of every process is taking place or under process. One of the most important components common to every domain is the supply chain process. Organizations employ a digital supply chain to track the delivery of their products or materials. The digital supply chain is still suffering from a few issues such as no provenance, less transparency, and a trust issue. Blockchain technology, one of the emerging technologies, can be integrated with the supply chain to deal with the existing issues and to improve its performance. In this paper, a model is proposed to integrate blockchain technology with the supply chain to improve performance. The proposed model uses the combination of the Ethereum blockchain and the interplanetary file system to maintain the traceability, transparency, and trustworthiness of the supply chain.

Frontiers in Blockchain, 2023

Technology is an important tool in the armory of state-of-the-art innovations, in terms of both digital expansions and disruptions. With blockchain technology gaining momentum, different industries are emphasizing experimentation with it. Nowadays, organizations are emphasizing towards agile and leaner supply chains with end-to-end prominence via the incorporation of this latest technology, thereby boosting services across the world. The revolutionary features of blockchain technology are paving the way for greater opportunities for supply chain businesses. The technology has the potential to become a supply chain data utility and repository that offers benefits to all its users, such as unique market information that would be otherwise unavailable from any other source. This paper contemplates the need for blockchain technology in the supply chain and its contribution to enhancing the overall efficiency and demand planning processes of businesses. It discusses the latest market trends and factors driving the need for the incorporation of blockchain in the supply chain sector and the future scenario. Different use cases of the technology, market challenges in the implementation of the technology, and the solutions offered by different companies to address such problems have also been discussed.