Abstract
The risk of supply chain disruption is usually related to daily disturbances in supply chain operations (e.g., demand fluctuations) and some emergency risks, such as earthquakes and epidemic outbreaks. During a crisis, companies need agility to quickly find new suppliers and open auxiliary sales channels to meet customer needs and remain competitive. However, identifying “event” is one of the most difficult challenges of current decision support systems. If the system encounters an emergency, it is usually unable to promptly notify users of the warning to avoid risks. A sensible solution is to incorporate the real-time event-monitoring system into SCM (i.e., supply chain management) in order to share emergency information in the early stage for preemptive management in the supply chain. On the other hand, in order to process confidential supply chain data with other members, the SCM infrastructure requires secure data sharing. The blockchain-based SCM system can improve the transparency of traceability to ensure that the supply chain system provides high-quality products and protects data privacy and security. The view is taken; therefore, in this work, we combined a method of real-time event detection using collected Twitter data and blockchain technology for event monitoring to improve the visibility of the supply chain system and take preemptive measures for risk avoidance. The experiments show some interesting results and potentials for future work in the field of the agile supply chain.
Highlights
An emergent world event may affect the world economy, especially the global supply chains
We designed two sets of experiments to evaluate (i) the effectiveness of the event monitoring method based on our previously developed event detection technique and (ii) the validity of the smart contract we developed for adaptive supply chain management by implementing a case study and the system simulations
The view is taken; in this work, we combined a method of real-time event detection using collected Twitter data and blockchain technology for event monitoring to improve the visibility of the supply chain system and take preemptive measures for risk avoidance
Summary
An emergent world event may affect the world economy, especially the global supply chains. To understand the benefits and risks of the supply chain, it is necessary to gain visibility into topper suppliers to improve company performance and avoid supply chain disruptions [1]. With regard to supply chain management (i.e., SCM), some organizations have found that they must pay more attention to various risks caused by emergencies, including worker strikes [2], trade wars [3], and epidemics [4] that paralyze the global economy. The resilience of the supply chain must be based on the ability of SCM members to respond to various risks. Effective information sharing and information transparency have proven to be beneficial means to improve the resilience of supply chains [9,10,11,12,13]. The entire supply chain network must trust each other to share emergency information and take appropriate measures to quickly respond to unexpected supply chain disruption risks
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