A Secure Decentralized Store-Keeping Architecture for Operations Management Excellence Using Blockchain Concept in Industry 3.0 and 4.0 Work Environment

Abstract

Assets security is a critical subject for employers because it decides the fate of organizations. If the employers fail to control the asset management, then they face drastic losses. Organizations use several strategies for controlling the asset management in operations management. However, they got outdone in maintaining secure asset management, and it may result in drastic losses. Industry personnel are worried about asset management in decentralized stores as compared to centralized stores because there are a lot of foul play results that occur by willingly, fully, or intentionally attempting. These attempts can be reduced by vigilant and real-time information plans, but they can never be eliminated. Finance department analysis showed that the most minor malfunction deteriorates the operations management and could lead to an industry downturn. The present study proposed a secure decentralized architecture for operations management excellence using the blockchain concept. The architecture provides secure assets management in decentralized stores in operations management in Industry 3.0 and Industry 4.0 environment. The proposed architecture resolves the challenges faced by industry personnel in establishing different decentralized stores on the shop floors. Decentralized stores play a vital role in achieving desired operations outcomes because they decrease the material handling and breakage possibilities but increase insecurity chances. The proposed architecture helps in tackling issues faced in controlling decentralized stores by implementing blockchain concepts in Industry 3.0 and Industry 4.0 environments.