Blockchain-Based Secured Collaborative Model for Supply Chain Resource Sharing and Visibility

Abstract

Globalization, escalating competition, and demand for sustainable practices have required supply chain and production managers to consider various capabilities and value creation strategies for the customers. Rapid technological advancement in the current production environment calls for integrative and collaborative efforts for effective resource utilization and better visibility to gain competitive advantages. However, privacy risks and trust have always been a significant barrier for organizations’ efforts towards supply chain integration. Supply chain stakeholders fear these collaborate practices might weaken their bargaining power, accelerate risk of data manipulation and result in loss of information advantages. Addressing these issues, the study proposes a Blockchain-based collaborative model for production visibility and resource sharing. It demonstrates the framework for stakeholders’ interaction over a central procurement system backed with blockchain technology. The study further lays down the notion of production capacity backed smart contract rules. These smart contracts will run on the proposed blockchain network to reduce the possibilities of fraudulent transactions and capacity overbooking- leading to illegitimate subcontracting. The overall network will stimulate visibility and develop a technology-based trust among partners which ensuring sustainability by effective utilization of resource.