Avvanhi,
Haneesh Hasan,
Mohammad Musthafa,
Mohammad Niyaz,
Yashwin Y Puthran,
- Student, P A College of Engineering, Mangalore, Karnataka, India
- Student, P A College of Engineering, Mangalore, Karnataka, India
- Student, P A College of Engineering, Mangalore, Karnataka, India
- Student, P A College of Engineering, Mangalore, Karnataka, India
- Student, P A College of Engineering, Mangalore, Karnataka, India
Abstract
In recent years, blockchain technology has emerged as a transformative force capable of enhancing transparency, security, and efficiency across various industries. Supply chain management is one area where blockchain integration has a lot to offer. This paper explores the application of blockchain technology within supply chain systems, focusing on its potential to streamline operations, reduce fraud, and enhance traceability. By leveraging the decentralized and immutable nature of blockchain, stakeholders can achieve greater visibility into the lifecycle of products, from origin to consumer. This study reviews current blockchain implementations in supply chains, analyzes their impact on operational workflows, and discusses the challenges and opportunities associated with their adoption. According to the research, blockchain technology can significantly enhance supply chain operations, but its effective application necessitates navigating organizational, legal, and technological obstacles. The ultimate goal of this paper is to present a thorough knowledge of how blockchain technology may transform supply chain management and open the door to supply chains that are more transparent and robust.
Keywords: Supply Chain, Block Chain, stake holders, bitcoin, data storage ecosystem
[This article belongs to Recent Trends in Sensor Research & Technology (rtsrt)]
Avvanhi, Haneesh Hasan, Mohammad Musthafa, Mohammad Niyaz, Yashwin Y Puthran. Smart Contracts in Supply Chain Management: A Blockchain Perspective. Recent Trends in Sensor Research & Technology. 2024; 11(02):10-18.
Avvanhi, Haneesh Hasan, Mohammad Musthafa, Mohammad Niyaz, Yashwin Y Puthran. Smart Contracts in Supply Chain Management: A Blockchain Perspective. Recent Trends in Sensor Research & Technology. 2024; 11(02):10-18. Available from: https://journals.stmjournals.com/rtsrt/article=2024/view=177452
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Recent Trends in Sensor Research & Technology
| Volume | 11 |
| Issue | 02 |
| Received | 05/06/2024 |
| Accepted | 10/07/2024 |
| Published | 08/08/2024 |