Digital supply chain management ecosystem powered by blockchain technology

Abstract

Most of the leading companies of the world invest heavily in a computerized system to maintain their supply chain management. From collecting manufacturing equipment to final delivery, products are being tracked by supply chain management software. Despite this huge investment in digitizing the supply chain system, complete visibility of a product at any given time is not fully achieved. Protecting authentic information throughout the supply chain management becomes a challenging task along with maintaining the quality of products. As all parties of a supply chain system have their standalone software, real-time communication amongst this software developed in different platforms using different technologies is not quite feasible. Other illegal parties can inject counterfeit products into the supply chain by taking advantage of this situation. This can pose a significant threat not only to the company's revenue but also to its public image as well. In this paper, we propose a framework to implement a unique decentralized ecosystem powered by blockchain for the supply chain system.