review · International Journal of Science and Research Archive
Decentralised blockchain frameworks offer solutions to the growing complexity of modern supply chain networks. By removing intermediaries, cutting paperwork, and providing real-time process visibility, the technology streamlines operations, reduces overheads, and improves operational responsiveness. Its decentralised structure maintains data integrity to help prevent errors and fraud. An immutable ledger provides full end-to-end traceability, allowing stakeholders to follow the origin, movement, and status of goods, which reinforces commercial trust and supports regulatory compliance. Furthermore, blockchain acts as a foundation for innovation, enabling collaborative ecosystems, novel business models, and integration with the Internet of Things and artificial intelligence. Although case studies and pilots demonstrate practical benefits, widespread deployment continues to face hurdles regarding system interoperability, technical scalability, and regulatory alignment.
Modern supply chains often suffer from administrative delays, fraud risks, and a lack of clear tracking. Blockchain establishes a shared, tamper-proof record of every transaction and shipment. For organisations and consumers alike, this capability ensures greater accountability, confirms the genuine origin of products, and simplifies compliance with complex cross-border trade standards.
The technology targets supply chain operators, logistics providers, and regulators seeking verifiable product provenance and automated record-keeping. While successful pilot projects and case studies demonstrate applied and tested use cases, broader commercialisation remains hindered by scalability and interoperability hurdles, indicating that widespread market adoption requires further industry collaboration and standardisation.
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As global supply chains become increasingly complex, traditional systems face challenges in ensuring efficiency, transparency, and innovation. Block chain technology has emerged as a transformative force in addressing these issues, offering a decentralized and secure framework for supply chain management. This paper presents a comprehensive review of the impact of block chain on supply chains, focusing on its potential to enhance efficiency, transparency, and foster innovation. The efficiency gains facilitated by block chain in supply chain management are examined through the elimination of intermediaries, reduction of paperwork, and real-time visibility into the entire process. These improvements result in streamlined operations, reduced costs, and enhanced responsiveness to market dynamics. Moreover, block chain’s decentralized nature ensures data integrity, mitigating the risk of fraud and errors in the supply chain. Transparency is a critical aspect of modern supply chains, and block chain provides an immutable and transparent ledger that enables end-to-end visibility. The technology ensures traceability and accountability, allowing stakeholders to access real-time information about the origin, movement, and status of products. This transparency not only enhances trust among supply chain participants but also facilitates compliance with regulatory requirements. The role of block chain in fostering innovation within supply chains is explored, emphasizing its potential to enable new business models, collaborative ecosystems, and the integration of emerging technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI). The paper highlights case studies and pilot projects where block chain has been successfully applied to drive innovation in supply chain processes. Challenges and considerations related to the implementation of block chain in supply chain management are also discussed, including interoperability, scalability, and regulatory issues. The paper concludes by outlining future research directions and emphasizing the need for industry-wide collaboration to unlock the full potential of block chain in revolutionizing supply chain management. Overall, this review contributes to the understanding of how block chain can serve as a catalyst for efficiency, transparency, and innovation in contemporary supply chains
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DOI: 10.30574/ijsra.2024.11.1.0028
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