Blockchain Embraces Supply Chain Optimization by Enhancing Transparency and Traceability from Production to Delivery

One of the main functions of an organization is supply chain management, which involves transferring goods and services between multiple parties. Conventional supply chain management relies on a centralized method that is overseen at the central headquarters, from which all other sub-offices receive instructions. Safety transaction openness, traceability, involvement of stakeholders, product imitations, further delays, fraud, and instability are a few of the main problems with the current supply chain management systems. Blockchain has become an innovation that can effectively and transparently manage data and foster trust. The purpose of this paper is to discuss how blockchain technology can embrace supply chain optimization by focusing on enhancing transparency and traceability from production to delivery. In order to achieve the research objectives, this research paper has adopted a qualitative research study. A qualitative research approach allows the investigation of personal perspectives and linkages between individuals, companies, and supply chain actors because of the conceptual framework and research questions. This study has discovered that a wide range of industries use blockchain technology for supply chain management. This study examines the current state of utilization of blockchain technology and smart contracts in several key industrial domains. The study's results and findings demonstrate that supply chain research using blockchain technology is an expanding field of study that is receiving a lot of interest. Most of the examined articles concurred on the potential advantages that blockchain technology may provide for the supply chain.