Role and Impact of Blockchain–IoT-Enabled Supply Chain Management Model for Medical Supply

Abstract

Blockchain is a type of distributed ledger technology that uses a unique combination of attributes to ensure network security, transparency, and visibility. These features include a decentralized structure and storage mechanism, a consensus algorithm, smart contracts, and asymmetric encryption. There is a significant opportunity for blockchain technology to effect change across a variety of supply chain (SC) tasks, including SC provenance, business process reengineering, and security enhancement. In the last few years, there have been more research projects that look into how blockchain technology can be used in the supply chain. We take a look at many different industries, including shipping, manufacturing, automotive, aviation, finance, technology, healthcare, agriculture and food, e-commerce, and education, that stand to benefit from the implementation of blockchain-based technologies in the form of improved visibility and better management of business processes. The Internet of Things (IoT) is an exciting and promising breakthrough that has the potential to assist businesses in observing, tracking, and monitoring items, activities, and processes that are contained within their respective value chain networks.