Blockchain Technology for Enhanced Transparency, Efficiency, and Security in Supply Chain Management

Though innovation in barcodes, GPS, and IoT sensors has enhanced the scope of modern supply chains to track assets to a larger extent, it raises a critical challenge for centralized systems in terms of data breaches, unauthorized access, and manipulation. Blockchain technology serves as an optimum decentralized and tamper-proof solution for further improvement of data integrity, security, and transparency. This paper discusses the integration of blockchain into supply chains its benefits and challenges and its potential to change global supply chain operations at its very core. In a nutshell, the system proposed outlines a blockchain-based framework using IoT, GPS, and smart contracts that guarantee traceability, security, and efficiency throughout the supply chain in real time. The results are showing high improvement in transparency, security, and operational efficiency, which will certainly lead to its usage cases in varied sectors.