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ISSN 2063-5346
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A BLOCKCHAIN-BASED MODEL FOR IMPROVED SUPPLY CHAIN MANAGEMENT TRANSPARENCY AND TRACEABILITY

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Aman Kaushik, Nitin Jain
» doi: 10.48047/ecb/2023.12.si4.963

Abstract

Coordination and administration of several tasks necessary for the production and delivery of products and services are tasks that fall under the purview of supply chain management. Lack of transparency and traceability is one of the main issues with supply chain management. The inability to track the transfer of products and services from one stage to another may result in issues including inefficiencies, fraud, and counterfeiting. Supply chain management may benefit from increased openness and traceability thanks to blockchain technology. A distributed ledger called a blockchain is used to securely and openly record transactions. Every transaction is confirmed by a network of users, and once it has been recorded, it cannot be changed. Due to its ability to trace the flow of products and services in a safe and transparent manner, blockchain technology is suitable for supply chain management. To implement a blockchain-based solution for supply chain management, the following steps can be taken, Identify the supply chain participants: The first step is to identify all the participants in the supply chain, including suppliers, manufacturers, distributors, and retailers. Each participant will be given a unique identity on the blockchain. Create a blockchain network

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