Blockchain and IoT Integration for Secure Supply Chain Operations: Unlocking Real-Time Transparency and Business Continuity

Abstract

This paper presents an analysis of the ways in which Blockchain and Internet of Things (IoT) systems can be combined for the betterment of supply chain management as well as a discussion of the increased security, transparency and/or continuity of business that may result from such an integration. In the current world where the global supply chains are continuing to expand and integrate, it has been noted that there is need to protect real time information flows and enhance the integrity and traceability of information. Using Blockchain’s decentralized and immutable structure together with IoT’s data-collection aspect, this research explores ways in which supply chain processes could benefit from these technologies while minimizing the risks posed by data theft, forgery, and disruptions. The research employs published data analysis and a case study, encompassing cross-industry benchmarks, research, and empirical evaluation of Blockchain-IoT applications in industries. Survey data was obtained from recent implementations in industries including pharmaceutical, F&B and logistics. Quantitative tools and techniques were applied to evaluate the integrity and the reliability of Blockchain-IoT systems operations. Some insights discovered reveals that the integration between Blockchain and IoT fosters better real-time monitoring, minimizes counterfeiting and promotes better traceability of an average of 40% based on observed instances. Literature is advanced in this paper by presenting grounded data on Blockchain and IoT’s ability to maintain enduring and reliable supply chain security. The research implies that when the technologies are well deployed, they act as a key driver in facilitating secure and efficient supply chain. The presented research provides guidance on the adaptation of Blockchain and IoT to enhance the stability of the supply chain; it maps a tactical plan that industry participants can follow to achieve sustainable, secure supply chain operations.