Integrating Supply Chain Finance into Blockchain-Based Supply Chain Management Systems

Abstract

On that consideration, this investigation examines SCF as a concept and how it can be implemented within blockchain-enabled supply chain systems to increase effectiveness, minimize risk, and provide greater visibility into supply chain transactions. This study reveals the practical advantages of applying a decentralized and tamper-proof ledger of blockchain in the spheres of transaction processing, specifically, times of completing basic transactions, times of the payments’ cycles, and decreasing the number of errors and discrepancies. Notable results among them include cutting the business’s transaction processing time by half, payment cycle time by 71% in addition to reporting an 87% reduction in data entry mistakes. They concur with previous research supporting the disruptive prospect of blockchain technology in SCM and SCP, adding more research effort and investment in this area is warranted in order to fully exploit its advantages.