Blockchain Technology in Supply Chain and Logistics: A Comprehensive Review of Applications, Challenges, and Innovations
DOI:
https://doi.org/10.63282/3050-922X.IJERET-V3I3P110Keywords:
Blockchain Technology, Logistics, Supply Chain, Transparency, Accountability, Smart Contracts, Blockchain IntegrationAbstract
The difficulty in managing and controlling supply networks is exacerbated by their globalization. Blockchain, a decentralized digital ledger technology, has the power to improve global supply chain management by making it more transparent, traceable, and secure. This paper explores the amazing potential of blockchain technology in logistics and supply chain management (SCM), particularly in regards to its capacity to enhance trust, transparency, and traceability. Blockchain offers a distributed and immutable record that guarantees safe transactions and real-time monitoring, in contrast to conventional supply chains that encounter problems including data sharing, fraud, and a lack of responsibility. The paper discusses the integration of blockchain with key supply chain entities, including registrars, certifiers, and standards organizations, and highlights its role in automating processes through smart contracts and IoT integration. Despite its promising benefits, the paper identifies several challenges, including system integration, scalability, data privacy, and regulatory uncertainties, and suggests future research directions to overcome these barriers. The study aims to advance the understanding of blockchain applications in SCM and provide insights for developing efficient, resilient supply chain networks
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