Blockchain Based Supply Chain Management: An Overview

Abstract

Blockchain is recently a much talked technology. In this paper, a new way for supply chain management, by providing a new path, which is blockchain based supply chain is proposed. Many industries and people thought that the use of blockchain or using blockchain will disrupt the supply chain. Blockchain is disrupting supply chain. Though blockchain eliminates corruption, intermediate or middle man, extra charges and increases security and ease of tracking of products but also will help to grow supply chain. All the processes of industries and people are explained properly in this article. This technique or method is future revolution, so companies or industries should be aware of this. This idea will emphasize readers about the significances of blockchain based supply chain. Now days, the company like IBM already started working on blockchain, they are coming with the IBM blockchain for supply chain. So, Blockchain is not only used for bit coin or cryptocurrency, it has many other applications on which much amount of work has not been done and supply chain is one of them. Hence, all the companies and industries are aware that blockchain is upcoming and future ruling technology.

Keywords: Blockchain, supply chain management (SCM), Immutability, security, Transparency, hacking, E-commerce.