Impact of blockchain technology on the transparency and traceability of supply chains
Abstract
Blockchain technology has emerged as a potential solution to address the challenges of transparency and traceability in supply chain management. This study aims to investigate the impact of blockchain technology on enhancing supply chain transparency and traceability, and to identify the challenges and barriers to its adoption. The research employs a mixed-methods approach, combining a systematic literature review with case studies and expert interviews. The findings reveal that blockchain technology can significantly improve information sharing, visibility, trust, and accountability among supply chain stakeholders. Furthermore, it enables real-time tracking of products and materials, reducing the risk of counterfeiting and fraud. However, the study also identifies several challenges and barriers to blockchain adoption, including technical limitations, scalability issues, regulatory and legal considerations, organizational resistance, and lack of standardization. The implications of this study highlight the need for collaborative efforts between researchers, industry practitioners, and policymakers to address these challenges and unlock the full potential of blockchain technology in transforming supply chain management practices. This research contributes to the growing body of knowledge on blockchain applications in supply chain management and provides valuable insights for future research and industry adoption.
How to Cite This Article
Nguyen Trung Hieu (2024).
Impact of blockchain technology on the transparency and traceability of supply chains
. International Journal of Social Science Exceptional Research (IJSSER), 3(3), 82-90.