Blockchain in Supply Chain Management

Abstract

Blockchain technology, characterized by its decentralized, secure, and transparent ledger system, has the potential to revolutionize supply chain management. This paper explores the application of blockchain in enhancing supply chain processes, focusing on traceability, transparency, and efficiency. Through a detailed examination of various case studies, including Walmart's food traceability, Maersk's TradeLens, and De Beers' diamond tracking, the paper highlights the significant benefits of blockchain, such as improved speed and accuracy in tracking, enhanced security, and reduced fraud. Additionally, the paper addresses the challenges associated with integrating blockchain into existing systems, including scalability issues and the need for standardization. By providing a comprehensive overview of current implementations and potential future developments, this paper demonstrates that blockchain can significantly enhance the reliability and efficiency of supply chains across various industries. The findings underscore the importance of continued innovation and collaboration in overcoming the challenges to fully realize the benefits of blockchain in supply chain management