A Systematic Review of Blockchain in Supply Chain Management

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Abstract

In today’s international supply chain economy, demand fluctuation is disruptive and expensive. Traditional supply chain management systems include high complexity, centralized organizational structures, poor system design, increasing expenses, and a requirement for speed, quality, and service. Finance and security are crucial in centralized supply chain management since the revenue head bears the full operating expenses, from collecting materials to distributing finishing goods. Customer behavior varies; therefore, income may not match spending everywhere. Traditional supply chain management relies on small committee for speed, cost, and security. So, this dynamic consumer behavior requires a safe, decentralized, and trustworthy ecosystem. Decentralization increases supply chain financial decision making. Blockchain the fastest-growing technology, solves today’s supply chain problems. Blockchain allows huge network of decentralized independent people and organizations to flourish and run smoothly in a distributed operating environment. If the writer is trustworthy its data cannot be changed or faked. Blockchain has pros and cons: decentralized network in centralized computers. Blockchain issues include altering web page data to malicious data, network synchronization, service interruption, and more. Food, textile, healthcare, and educational institutions may use the suggested supply chain management approach. The supply chain management system is simulated in multiple scenarios for root-cause analysis of threats, vulnerabilities, and dangers. A thorough explanation of on why attacks happen, how to avoid them and how to protect the secure supply chain management from numerous threats and weaknesses.

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Keywords

Blockchain, Decentralization, Supply Chain, Consumer Behavior, Financial Decision Making