Blockchain Technology in Supply Chain Management

Abstract

ABSTRACT The growing complexity and globalization of supply chains have increased the demand for enhanced transparency, traceability, and security in supply chain operations. Traditional supply chain systems often suffer from issues such as data silos, lack of real-time visibility, and vulnerability to fraud and counterfeiting. In this context, blockchain technology has emerged as a transformative solution with the potential to revolutionize supply chain management (SCM). This study explores the integration of blockchain technology into supply chain systems, with a particular focus on its role in improving transparency, efficiency, and trust among stakeholders. The research examines the core features of blockchain—such as decentralization, immutability, and smart contracts—and analyzes their applications in various supply chain sectors including manufacturing, agriculture, pharmaceuticals, and logistics. Through a combination of literature review and primary data collection via surveys, the study assesses the awareness, adoption levels, perceived benefits, and key challenges associated with blockchain implementation in supply chains. Findings indicate that while the adoption of blockchain is still at an early stage for many organizations, there is a strong recognition of its potential to enhance traceability, reduce fraud, and streamline operations. However, barriers such as high implementation costs, lack of technical expertise, and integration with legacy systems remain significant concerns. The study concludes by highlighting strategic recommendations for organizations considering blockchain adoption and emphasizes the need for collaborative efforts, regulatory clarity, and further research to unlock the full potential of blockchain in supply chain management.