Abstract
AbstractAs a result of globalization, supply chain networks have grown in complexity and size, posing several issues and chances for development. Inventory optimization and replenishment policy adjustments have a substantial impact on supply chain operating performance and profitability. Vendor Managed Inventory (VMI) is a mutually advantageous agreement between a supplier and a customer in which the supplier oversees inventory and replenishment decisions based on the inventory status of the customer. VMI operations encounter major hurdles in today’s supply chains, including trust, data integrity, transparency, and traceability for multiple supplier and customer interactions. Blockchain technology is a distributed ledger that ensures that data is exchanged in a transparent, safe, and secure manner across supply chain stakeholders. The advantages of adopting blockchain technology for VMI operations in a supply chain include decentralized control, security, traceability, and auditable time-stamped transactions. This paper discusses a blockchain-based approach to enhance the VMI supply chain operations. It proposes a generic framework to enable the suppliers and customers order matching in a decentralized mode while fulfilling the trust in terms of managing the data accessibility among the stakeholders as an important prerequisite for VMI establishment. A case study is designed to compare the traditional and blockchain solutions.KeywordsSupply chain managementVendor Managed InventoryBlockchain technology
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