Exploring the integration of blockchain technology into supply chain: challenges and performance

Abstract

PurposeIn the era of digitization, blockchain technology (BCT) has gained huge attraction in a variety of business processes including operations and supply chains (SC) of different industrial sectors. This paper aims that the adoption of BCT in SC enables the industries to integrate the stakeholders and its distinct features enhance the performance of SC.Design/methodology/approachAn attempt is made to develop a BCT platform a pilot case of bearing-SC and identify the challenges and their solutions in the integration of BCT with SC. Moreover, the impact of BCT on measures of SC performance is also studied.FindingsThe results show enhanced transparency in the transactions, better security of the data, diminished latency period for transfer of information, improved traceability of the bearing, reduced time for payment transfer process and decreased nonvalue-added activities. Ultimately, overall trust of the customer can be improved by the integration of BCT in bearing-SC.Originality/valueIn the same way, BCT can be applied to SC of other components to assure the product quality to the end-users.