The Impact of Blockchain on Logistics and Supply Chain Management: A Review
Keywords:
Blockchain, logistics, supply chain management, transparency, traceability, efficiency, security.Abstract
Aim: Blockchain technology has emerged as a promising solution to address various challenges in logistics and supply chain management (SCM). This study examines the multifaceted impact of blockchain on the logistics and SCM landscape.
Methods: Through an extensive analysis of existing literature, this paper explores the transformative potential of blockchain in enhancing transparency, traceability, efficiency, and security throughout the supply chain.
Results: The study found that blockchain enhances transparency and traceability throughout the supply chain in logistics and SCM. Blockchain technology also offers enhanced security and data integrity capabilities that are particularly valuable in supply chain management. The study also found the ability of blockchain to streamline logistics operations and reduce costs associated with traditional supply chain processes.
Conclusion: The immutable nature of blockchain ensures that once data is recorded, it cannot be altered or tampered with, reducing the risk of fraud, errors, and disputes.
Recommendations: Organizations should utilize blockchain technology to create smart contracts that automatically execute and enforce agreements when predefined conditions are met. This will help in streamlining various processes within the supply chain, such as payments, delivery verifications, and quality control checks.
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