How blockchain technology is used in operations and supply chain management?

Blockchain technology can provide real-time visibility and tracking of goods and products throughout the supply chain, from production to distribution and to end consumers. This helps to increase transparency and trust between different parts of the supply chain.

How blockchain technology is used in operations and supply chain management?

Blockchain technology can provide real-time visibility and tracking of goods and products throughout the supply chain, from production to distribution and to end consumers. This helps to increase transparency and trust between different parts of the supply chain. Recalls become less expensive and more efficient when manufacturers can locate affected products quickly and easily. Blockchain technology allows for a more transparent and trackable supply chain and, therefore, facilitates faster and more efficient withdrawals.

In addition, since the blockchain is immutable in nature, it can be issued to trace the origin of products and identify counterfeit items and fraud within the value chain. In addition, since blockchain technology is still in its infancy, it is governed by several laws in many countries, which would affect supply networks. Traceability, as used in the supply chain sector, is the ability to identify previous and current inventory locations and a record of product custody. Companies could pay attention to other stakeholders in their supply chain and to competitors to indicate the time needed to develop a blockchain prototype.

Traditional supply chain management systems include steps such as planning, sourcing, manufacturing, delivery and after-sales service to centrally control the supply chain. The immature state of practice and research surrounding blockchain means that researchers at the OSCM have the opportunity to study the technology in its early stages and shape its adoption. In addition, producers and distributors can securely record information such as the nutritional value of items, the origin and quality of the product, and the presence of any allergen through a collaborative blockchain network. A blockchain supply chain can help participants record the price, date, location, quality, certification, and other relevant information to manage the supply chain more effectively.

The availability of this information on the blockchain can increase the traceability of the materials supply chain, reduce losses caused by counterfeiting and the gray market, improve visibility and compliance with respect to outsourced contract manufacturing, and potentially improve an organization's position as a leader in responsible manufacturing. For OSCM, a myriad of ways in which blockchain could transform practice are identified, such as improving the protection and safety of products; improving quality management; reducing illegal counterfeiting; improving sustainable supply chain management; advancing inventory management and replenishment; reducing the need for intermediaries; influencing the design and development of new products; and reducing the cost of supply chain transactions; and reducing the cost of supply chain transactions. However, it is important for managers to examine the characteristics of their products, services and supply chains to determine if they need or would benefit enough from the adoption of blockchain. Bitcoin, the first implementation of the blockchain, sparked widespread experimentation with the blockchain, particularly in financial services.

Enterprise Ethereum offers next-generation solutions for achieving the interoperable exchange of transaction information, transaction history and transaction statuses in accordance with industry standards. In the United States, Deloitte refers to one or more of the U.S. member firms of DTTL, their related entities operating under the Deloitte name in the United States, and their respective subsidiaries. Transparency in the monitoring of processes provides producers with a panoramic view of their value chain, allowing them to ensure the proper delivery of third-party products and the labeling of the final product.

This document aims to promote the study of blockchain technology from an operations and supply chain management (OSCM) perspective, identify possible areas of application and provide an agenda for future research...