EXPLORING BLOCKCHAIN’S POTENTIAL IN SUPPLY CHAIN MANAGEMENT: A LITERATURE REVIEW OF SAFETY AND TRANSPARENCY

Abstract

Goal - Research like this aims to look at the way “Blockchain Technology” may affect “Supply Chain” rules & practices in the future.

Strategies, procedures, and approach - Academic and practitioner publications were both systematically reviewed. For further information, the researcher also looked at other reports of blockchain implementations in different industries.

Findings - Although still in its early stages, blockchain technologies are starting to make a splash in “Supply Chain”, with the importance of trust in their acceptance. Enhanced transparency & auditability, digitalization & disintermediation of the “Supply Chain, smart contracts” & increased data security are the four main areas where these technologies contribute to the value of “Supply Chain management”. This research has uncovered a number of obstacles, knowledge gaps, and potential areas for future study. From a design standpoint, the researcher has also investigated the optimal configuration of a blockchain-enabled “Supply Chain”.

Careful consideration was that this systematic review’s search keywords focus at dissemination of “Blockchain Technology inside supply chains”. The research limitations and implications are as follows, having said that, the researcher do concede that certain blockchain publications might not have made it into the evaluation due to their wording choices.

Implications for practice - This article sheds light on the ways in which “Blockchain Technology” might shake up the “Supply Chain” by revealing both the opportunities & threats to current practices, in addition to the challenges that impede its widespread use.

Possible social and economic effects of “Blockchain Technology” are discussed in this article.

What makes this study unique is that it looks at the present situation of blockchain dissemination in “Supply Chains”, which is not done very often. This establishes a solid groundwork for further studies.