Application of blockchain technology for resilient and sustainable supply chain management

Abstract

This paper has explored how to integrate blockchain into supply chain management to achieve a resilient and sustainable supply chain for the future business. To achieve the purpose, this research uses semi-structured interview for data collection. The researcher of this study has identified the key problems to be solved by the BCSC mode. Results show that the potential risk suggested in this study in relation to the use of the BCSC is possible attack risk due to additional tasks that need to be completed other than the processes in traditional database. These additional tasks include signature verification, and attaining consensus. Moreover, there are different key applications of BCSC in both cross-border e-commerce and the general business environment, such as identification and traceability of products, enhancing the efficiency and speed of supply chain processes, and improving the financing, contracting and cross-border transactions. Finally, based on the findings of this research, it was determined that RFID could be incorporated with the BCSC. RFID will increase the traceability of the products that are on transit within a specific supply chain. This study has made contribution to the literature as it uncovers the positive side of using blockchain technology in supply chain management. As the existing literature do not extensively cover the future of businesses that integrate blockchain into their supply chain management processes.