Blog

The Impact of Blockchain Technology on Supply Chain Transparency and Security

Chief Editors:  Mr. Irshadullah Asim Mohammed, Dr. Yogesh Mohan Gosavi, and Prof. (Dr.) Vineeta Kaur Saluja

Associate Editor: Mrs. Sruthi S

Co-Editors: Dr. S. Rajeswari, Dr. Nikhil Saini, and Ms. Atreyee Banerjee

ISBN:  978-81-985805-1-1

Chapter: 54

Author: G V Radhakrishnan

DOI: https://doi.org/10.59646/mrnc54/321

Abstract

Blockchain technology has emerged as a transformative solution for enhancing transparency and security in supply chain management. By leveraging decentralized and immutable ledger systems, blockchain enables real-time tracking, reduces fraud, and ensures data integrity across various supply chain operations. This technology fosters trust among stakeholders by providing an auditable record of transactions, minimizing reliance on intermediaries, and improving efficiency in logistics and inventory management. Smart contracts further automate processes, reducing delays and human errors. Additionally, blockchain enhances product traceability, mitigating risks related to counterfeit goods and unethical sourcing. Despite its advantages, challenges such as high implementation costs, scalability issues, and regulatory concerns remain barriers to widespread adoption. Nevertheless, as businesses increasingly recognize its potential, blockchain is poised to revolutionize global supply chain networks by fostering transparency, security, and operational resilience.

References

  1. Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System.
  2. Kshetri, N. (2018). Blockchain’s roles in meeting key supply chain management objectives. International Journal of Information Management, 39, 80-89.
  3. Saberi, S., et al. (2019). Blockchain technology and its relationships to sustainable supply chain management. International Journal of Production Research, 57(7), 2117-2135.
  4. Treiblmaier, H. (2018). The impact of blockchain on supply chain management. Supply Chain Management Review, 22(6), 20-27.
  5. Francisco, K., & Swanson, D. (2018). The supply chain has no clothes: Blockchain technology and the promise of transparency. Supply Chain Management Review, 22(2), 12-20.
  6. Tian, F. (2016). An agri-food supply chain traceability system for China based on blockchain. International Journal of Information Management, 34(5), 585-595.
  7. Yadav, V. S., et al. (2020). Blockchain adoption in supply chain networks. Technological Forecasting and Social Change, 161, 120225.
  8. Kouhizadeh, M., et al. (2021). Blockchain technology and the circular economy. Resources, Conservation and Recycling, 163, 105087.
  9. Sharma, R., & Jain, M. (2021). Enhancing supply chain security with blockchain technology. Journal of Business Logistics, 42(3), 320-337.
  10. Casino, F., et al. (2019). Blockchain for trust in the food supply chain. Food Control, 96, 198-208.
  11. Wang, Y., et al. (2019). Blockchain-based supply chain traceability for sustainability. Business Strategy and the Environment, 28(5), 837-855.
  12. Hackius, N., & Petersen, M. (2017). Blockchain in logistics and supply chain. Procedia Computer Science, 119, 163-172.
  13. Manupati, V. K., et al. (2020). Multi-agent-based blockchain framework for supply chain. Computers & Industrial Engineering, 149, 106795.