Blockchain Technology's Potential in Supply Chain management

This exploratory study examines the potential of blockchain technology to revolutionize supply chain management (SCM). By leveraging a comprehensive literature review and expert interviews, this paper identifies key benefits of blockchain integration in SCM, including increased transparency, enhanced security, and improved traceability. The study also addresses technical challenges and implementation barriers, such as scalability issues and the need for standardization across various stakeholders. Comparative analysis of current SCM systems and potential blockchain-based solutions is conducted, highlighting significant efficiency gains and cost reductions. The findings suggest that while blockchain presents a transformative potential for SCM, strategic frameworks and collaborative efforts among industry players are crucial for successful adoption. Future research directions are proposed, focusing on pilot projects and real-world application case studies to further validate the technology's practical benefits and scalability in diverse supply chain contexts.