Chapter 5 - Role of blockchain in achieving solutions in ambiguous supply chain operations

Abstract

Blockchain technology is the most emerging technology that provides a new surge in supply chain operation and management. This chapter introduces the basic concept of blockchain technology implemented in supply chain management (SCM). A conceptual framework of Blockchain in SCM offers transparent, secure, and automatic transaction execution among supply chain participants. Blockchain has a consensus mechanism to endorse the transaction that increases immutability and guarantees transaction privacy in the supply chain. This chapter also entails blockchain architecture for the supply chain. Blockchain technology is successfully implemented in Agriculture as food supply chain management, healthcare as drug supply management, real estate as a property transfer management etc. However, some Blockchain implementation details such as incurred cost, scalability, knowledge about blockchain to its trading partner, interoperability challenges etc., are also part of the chapter.