Applications of Blockchain Technology in Supply Chain Management

Abstract

In this chapter, the authors delve into the utilization of blockchain technology within the realm of supply chain management. The emergence of blockchain technology has heralded substantial progress across diverse sectors, and the domain of supply chain management is undeniably one of them. The decentralized and immutable characteristics of blockchain present a promising resolution to endure hurdles encountered by stakeholders in supply chain management. These challenges encompass issues of transparency, traceability, and efficiency. The abstract commences by acknowledging the transformative essence of blockchain technology, underscoring its profound influence across various sectors. It subsequently narrows its focus to explore the specific applications within the domain of supply chain management. The chapter undertakes an in-depth examination of the multifaceted challenges faced by supply chain stakeholders and elucidates how blockchain technology adeptly tackles these predicaments.