Transition to the Intelligent Services Ecosystem: Integration of Block Chain and Internet of Things in Supply Chain Management

Abstract

The traditional supply chain management is facing challenges of low transaction efficiency, high cost and insecurity among multi-participants, which is urgent to accelerate the evolution of traditional supply chain to a connected, intelligent and efficient supply chain ecosystem. Previous literatures have discussed the application of the Internet of Things in supply chain, but there are insufficient studies on how to optimize the supply chain management efficiency with the integration of the Internet of Things and block chains. Therefore, this paper analyses the current situation and development trend of the Internet of Things and block chain. Furthermore, based on the conditions of multi-agents of supply chain, this paper also studies the advantages and mechanisms of the integration of Internet of Things and block chain in promoting the supply chain management efficiency, as well as the concomitant difficulties and bottlenecks. Finally, this paper puts forward some implications on how to optimize the integration of the Internet of Things and the block chain in the intelligent services ecosystem of supply chain management.