Supply Chain Management Using Block Chain Technology

Abstract

The incorporation of blockchain technology in supply chain management has emerged as a revolutionary solution, offering enhanced transparency, efficiency, and security across the entire supply chain network. This study presents a thorough examination of the intersection between supply chain management and blockchain, emphasizing the key advantages, obstacles, and recent advancements. The integration of blockchain in supply chain management tackles crucial issues such as traceability, origin, and trust. Through the establishment of a decentralized and unchangeable ledger, stakeholders throughout the supply chain obtain immediate insight into the flow and condition of products. This level of transparency not only minimizes the risk of fraud and counterfeiting but also strengthens the overall resilience of the supply chain. The proposed framework will leverage Blockchain technology to establish a transparent and tamper-resistant record of every transaction and event across the supply chain lifecycle. Every participant in the supply chain ecosystem, including suppliers, manufacturers, distributors, logistics providers, and consumers, will be able to access a shared ledger, facilitating real-time monitoring of the movement and status of products.