The Future of Decentralized Supply Chain Management with Blockchain Technology

The rapid surge in international trade has uncovered inefficiencies, lack of transparency, and fraud risks inherent in traditional supply chains. Blockchain technology offers a decentralized, secure, and transparent solution to these problems, thus enhancing efficiency and trust. This study addresses the role of blockchain in supply chain management, comparing decentralized and centralized strategies with real applications like IBM Food Trust and Walmart. Blockchain, while enabling cost savings, enhanced security, and improved collaboration, also faces challenges like regulatory problems, high upfront costs, and integration complexity. This study addresses the potential of blockchain in facilitating more sustainable and resilient global supply chains through case studies and new developments like integration with artificial intelligence and the Internet of Things.