Blockchain Technology for Supply Chain Management

Abstract

The aim of the research is to discuss what challenges and problems Blockchain can solve in Supply Chain, and what is the future to come for the Supply Chain Management. Blockchain can be defined as a chain of the block that contains information. The technique is intended to timestamp digital documents so that it's not possible to backdate them or temper them. The blockchain is used for the secure transfer of items like money, property, contracts, etc. without requiring a third-party intermediary like bank or government. Once data is recorded in a blockchain, it is very difficult to change it. The implementation of Blockchain Technology can help organizations reduce order quantities, lower selling prices and reduce the target-inventory levels.