Blockchain technology for supply chain management in the context of AI-based solutions

Abstract

Purpose: The purpose of the article is to emphasize the growing popularity of using tools based on artificial intelligence and blockchain technology in supply chain management, as well as to show the synergistic potential of using them together. Additionally, the author aims to present and discuss the concept of using both technologies for the purposes of constructing an ordering goods system in the supply chain based on AI tools supported by blockchain technology. Design/methodology/approach: The purposes of the paper were achieved by analyzing literature, industry reports and online publications in the field of blockchain technology and artificial intelligence in supply chain management. The theoretical scope of the article is the description of application areas of both described technologies within the supply chain, their main characteristics and the potential for synergy in their combined use. Findings: The author presented the results of the analysis of literature, industry reports and online publications, demonstrating the growing popularity of the use of blockchain technology and artificial intelligence-based tools in supply chain management, characterized key features of analyzed technologies, comparing them on the basis of opposites, and indicated their resulting synergistic potential. Drawing conclusions from this potential, the author indicated the possibility of using both technologies together as part of the blockchain-AI supported ordering system's concept. The article ended with the author's suggestions regarding the potential of future research aimed at concretizing the proposed concept and looking for opportunities to decentralize AI tools used so far based on their support with blockchain technology. Practical implications: The use of blockchain technology and tools based on artificial intelligence in business shows measurable benefits, as shown by the submitted analysis of industry reports. Observed increasing adoption of both technologies contributes to cost decrease and revenue increase in many industries as shown in the paper. Originality/value: The originality of the paper consists in comparing the opposites and drawing conclusions regarding the potential complementarity of the features of both analyzed technologies, and is also expressed in the proposed concept of Blockchain-AI supported ordering system. Keywords: distributed ledger technology, blockchain, artificial intelligence, supply chain management. Category of the paper: Research paper.