IMPACT OF BLOCKCHAIN TECHNOLOGY ON SUPPLY CHAIN MANAGEMENT AND ECONOMIC EFFICIENCY

Blockchain technology has emerged as a new innovation with significant implications for various industries, including supply chain management. By introducing transparency, security, and efficiency, blockchain has the potential to revolutionize traditional supply chains, increasing their economic efficiency. This article examines how blockchain technology can transform supply chain management, improving traceability, reducing operational costs, and mitigating fraud. It also analyzes the broader economic implications of these advances, particularly for emerging markets, where efficient supply chains are critical to economic growth. The study concludes by highlighting the challenges and opportunities associated with adopting blockchain in supply chain management.