Decentralized Supply Chain Management Smart Contract Using Block-Chain

Abstract

Due to the presence of multiple participants and tiers in the supply chain network there lies a high risk of data corruption and authenticity, resulting in lack of data transparency and responsiveness. However, there are several methods that are being practiced to establish more secure supply chain networks. The emergence of block-chain technology has created several paths for potential innovations in business industries making the management easier. Therefore combining traditional supply chain services with the block-chain technologies can help create an efficient supply chain management network. In this project, we have proposed an idea of ‘Decentralized Supply Chain Management Smart Contract Using Block-chain’ which is a small step of making the supply chain a trust-worthy network. We proposed a block-chain based framework with the use of associated technology, i.e. Smart contracts, to experience the practical application of supply chain process design. The Smart contract is designed to ease the management, in which the manufacturer provides complete details of the products, while the consumer has the real time access to details of products and status of transaction. Details of each product is a non-fungible token which ensures that the data is immutable.