Supply Chain Management

Supply Chain Transformation with Blockchain Deployment: Enhancing Efficiency and Effectiveness

Article Details

Pub. Date	: Dec 21
Product Name	: The IUP Journal of Supply Chain Management
Product Type	: Article
Product Code	: IJSCM11221
Author Name	: Pankaj M Madhani*
Availability	: YES
Subject/Domain	: Strategic
Download Format	: PDF Format
No. of Pages	: 29

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Abstract

Blockchain is considered the most trending technology that may significantly impact businesses across the globe as it streamlines deficiencies of inter- and intra-organizational business processes by making them immutable, decentralized, secure, transparent, and operational-efficient. The applications of blockchain have begun to revolutionize different aspects of supply chain and operations management and help in reducing costs and risks and improving quality, flexibility, speed, and sustainability. Blockchain adds the most value to supply chains through its extended visibility and product traceability and makes supply chains more responsive and resilient against market disruptions. The study explores the deployment of blockchain technology to supply chain operations and differentiates traditional supply chains versus blockchain-enabled supply chains. It develops various frameworks to highlight the likely improved performance as blockchain deployment enhances the efficiency and effectiveness of the supply chain and ultimately leads to competitive advantages.

Introduction

The Covid-19 pandemic has caused massive disruptions in supply chain networks, creating new challenges for both the short and long term. Supply chain disruptions are not merely isolated to the supply chain; they have a negative ripple effect on the entire organization. Covid-19 has illuminated many existing structural problems in supply chain infrastructure around the visibility and integrity of data. New regulations, changing consumer preferences, and restricted working have forced supply chain stakeholders to manage their supply chains more efficiently and effectively. High number of intermediaries and lack of information management have been the major issues of supply chains contributing to the failure to cope with the Covid-19 pandemic disruption (Sharma et al., 2020). In a highly disrupted environment, supply chains need to have dynamic and resilient strategies to tackle the impact of Covid-19 outbreaks.

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