Revolutionizing Supply Chain Management Using Blockchain Technology

Abstract

Abstract: DSlesinger and M. Stephenson in the Enclyclopaedia of Social Sciences define research as “The manipulation of things concepts or symbols for the purpose of generalizing to extend, correct or verify knowledge, whether that knowledge aids in construction of theory or in practice of art” Research thus is an original contribution to the existing stock of knowledge making for its advancement. In short, the search for knowledge thorough objective and systematic method of finding solution to a problem is research.[1] This paper is written with the purpose exploring a possible use case of blockchain technology in supply chain management which has the potential to solve many of the existing problems related to the industry along with the scope of improving the same for better. Starting with the introductions of the technologies involved, the paper proceeds to discuss the limitations of supply chains in current scenario and then propose a method in which the adoption of this technology could take place followed by the limitations and hurdles associated with the adoption of this technology. Keywords: Blockchain, Supply chain, Distributed ledger, smart contract, Network.