Securing Supply-Chain Network with Blockchain

Abstract

AbstractBlockchain is known to be a disruptive technology of the modern era. Businesses, especially, supply chain firms can get benefit by keeping production records in a shared ledger, providing total data visibility and a single source of truth. Supply-chain can validate the status and location of a product at any moment since transactions are constantly time-stamped. The key challenge in this study is to explore how blockchain technology can be utilized to improve asset traceability in today’s food supply chain cycle. In a business network, a blockchain is a distributed, shared ledger that employs encryption to validate and record transactions and monitor assets. The objective is to develop a blockchain model that should be feasible across all food supply chains and to demonstrate the benefits and drawbacks of doing so. One of the most difficult situations that Food Supply-Chain (FSC) firms confront today is food provenance. End-to-end food tracking is unavoidable in the food sector due to a worldwide supply-chain network with diverse operational processes and uneven food standards between nations. This study also includes a thorough evaluation of the present issues in food tracking, food safety standards, and food supply-chain design. An analysis of the foodborne disease outbreak dataset in the United States from 2007 to 2021 is also given, with an emphasis on two major findings. First, the blockchain model should be focused on food goods with the most food sickness outbreak occurrences, and second, IoT scanning points should be increased at particular phases of the supply chain that have recorded more than 50% of total contamination episodes. Finally, using Smart Contract, a blockchain model is developed, and its advantages over traditional information technology systems and global food monitoring techniques are discussed. A future study might look into leveraging blockchain-enabled models to replace ERP systems, minimize food waste, and enhance supply management between stages of the food supply chain.KeywordsSupply chainBlockchainPrivacyInformation securityTransparencySmart contract