Implications of Blockchain Technology in Supply Chain Management

Abstract

Due to rapid developments in technology, the supply chain becomes a bright area of interest among up-and-coming careers in various industries. People with careers in this field oversee such activities as product development, production, information systems, transportation, and day-to-day logistics. But, the rapidly evolving environments of an easy and comfortable life, the demand for product visibility and end-to-end traceability have grown. The existing supply chain is inefficient, unadaptable, intractable and costly as compared to innovative and advanced technology. Blockchain is the emerging and revolutionary technology that impacts the supply chain networks significantly. Therefore, in this paper, the implication of blockchain technology in the supply chain is presented.