Blockchain Applications in Retail Supply Chain

Abstract

High customer expectations, product provenance and authenticity , transparency, traceability and inventory management are critical points in any retail business. The failure to provide these points can lead to customer dissatisfaction, defection and extremely inefficient processes. Retailers can stand to benefit from better provenance tools, as consumers are increasingly concerned about the origins of products they purchase, from ethical as well as value-based standpoints. The main benefit of blockchain is that retail organisations can prove what they delivered on their promises by product authenticity, tracking and tracing reliable delivery throughout the supply chain and accountability of suppliers. This chapter aim to; (i) Help retailers to understand potential application areas of blockchain in retail supply chain. (ii) Analyse the challenges and opportunities of blockchain technology in retail industry.