Abstract
Arrival of blockchain is set to transform supply chain activities. Scholars have barely begun to systematically assess the effects of blockchain on various organizational activities. This paper examines how blockchain is likely to affect key supply chain management objectives such as cost, quality, speed, dependability, risk reduction, sustainability and flexibility. We present early evidence linking the use of blockchain in supply chain activities to increase transparency and accountability. Case studies of blockchain projects at various phases of development for diverse purposes are discussed. This study illustrates the various mechanisms by which blockchain help achieve the above supply chain objectives. Special emphasis has been placed on the roles of the incorporation of the IoT in blockchain-based solutions and the degree of deployment of blockchain to validate individuals’ and assets’ identities.
Highlights
Blockchain deployment outside finance has been largely experimental
Among many activities that are likely to be transformed by blockchain, supply chain deserves special attention
In order to guide the focus of the study we provide a theoretical framework related to key objectives of supply chain management
Summary
Some of the most promising non-finance applications of blockchain are expected to include those in supply chain, power and food/agriculture. These areas are arguably strong fits for blockchain. These industrial use cases are believed to deliver real ROI at an early stage of blockchain development (Bünger, 2017). With IoT, radio-frequency identification (RFID) tags, sensors, barcodes, GPS tags and chips, the locations of products, packages and shipping containers can be tracked at each step. This allows an enhanced, real-time tracking of goods from their origins
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