Enhancing Supply Chain Management: A Blockchain-Based Approach for Data Privacy and Transparency in the IoT Era

Internet of Things (IoT) has spurred the growth of smart devices, smart buildings and smart cities worldwide. Supply chain management is a cross functional approach where the various stakeholders are involved, and movement of raw and finished materials and manufacturing process happens. In supply chain Management, the customer or the manufacturers have to trust on the internal or the external stakeholders for continued operation. Blockchain came into existence to provide traceability and visibility of the process in the supply chain management. Thus, in this paper, with the integration of IoT and supply chain management, the proposed model introduces a novel and unique methodology that leverages blockchain technology to address data privacy concerns among stakeholders. The methodology involves the creation of a blockchain within a blockchain, which ensures the confidentiality and integrity of sensitive information, such as manufacturing costs, while maintaining the overall transparency and traceability of the supply chain process.