A Brief Review on the Role of Blockchain in Supply Chain Management

Abstract

AbstractBlockchain is a proficient technology when used in combination with other intelligent technologies which gives an opportunity to an organization to rethink about improvement of their supply chain internal and external processes. It helps in improvement of transparency and provenance by removing shortfalls and building a better organizational control overall. However, blockchain faces numerous challenges, e.g., transaction speed, decentralization, scalability, interoperability, and lack of standardization that could affect its adoption across organizations. However, a greater number of research are required to overcome the governance, standardization, and technological challenges involved within. Concisely, blockchain in supply chain is still in initial phase, many improvements are needed for better adaptation of blockchain using Machine Learning, Neural Network algorithms to make optimized computation decision of blockchain framework. In this paper, we studied and discussed about blockchain and its type, consensus mechanism, blockchain in supply chain, key issues of blockchain and supply chain and intelligence in blockchain.KeywordsBlockchainBlockchain typesConsensusBlockchain architectureBlockchain advantagesBlockchain application in supply chainBlockchain intelligence