Blockchain-based Supply Chain Management (SCM)

Bethapudi Ratnakanth*, R. Yadagiri Rao**, Indigibilli Satyanarayana***
*-*** Department of Computer Science and Engineering, Sri Indu Institute of Engineering and Technology, Sheriguda, Ibrahimpatnam, Hyderabad, India.
Periodicity:April - June'2023
DOI : https://doi.org/10.26634/jit.12.2.20119

Abstract

A blockchain is a decentralised, unchangeable ledger that makes it easier to track assets and record transactions in a corporate network. In a blockchain network, anything valuable may be recorded and traded, lowering the risk and increasing efficiency for all parties. It has the potential to drive cost-saving efficiencies and enhance the consumer experience through traceability, transparency, and tradeability. Blockchain-based Supply Chain Management (SCM) can provide services to participants to inquire about product details, cost, quantity, quality, availability of products, location and other significant information. It provides transparency and agreement-outsourced contract manufacturing and enhances an organization's position as the main leader in responsible manufacturing. In this study, blockchain and its effects on SCM are discussed, along with security issues and solutions.

Keywords

Blockchain, Security, Supply Chain Management (SCM), Decentralization, Phishing, Crypto Currencies.

How to Cite this Article?

Ratnakanth, B., Rao, R. Y., and Satyanarayana, I. (2023). Blockchain-based Supply Chain Management (SCM). i-manager’s Journal on Information Technology, 12(2), 26-34. https://doi.org/10.26634/jit.12.2.20119

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