Blockchain Technology for Secure and Transparent Supply Chain Management Systems

Abstract

In an era marked by the increasing complexity and globalization of supply chains, this study explores the transformative potential of blockchain technology as a catalyst for achieving unprecedented levels of security and transparency in supply chain management systems. The main purpose of the study was to examine blockchain technology for secure and transparent supply chain management systems. The study was anchored on the Diffusion of Innovations Theory. The study conducted a thorough review and synthesis of diverse scholarly works on blockchain technology for secure and transparent supply chain management systems, aiming to gain insights into key theories, methodologies, findings, and gaps in the existing body of knowledge. This study highlights blockchain's transformative potential in enhancing security and transparency in supply chain management. Blockchain's decentralized, tamper-resistant nature reduces risks of fraud and counterfeiting, ensuring data integrity. It improves transparency by offering real-time visibility into the movement of goods and fostering trust among stakeholders. As a key enabler, blockchain revolutionizes supply chain collaboration, addressing security and transparency concerns for more resilient and efficient systems. In conclusion, the study on "Blockchain Technology for Secure and Transparent Supply Chain Management Systems" offers a thorough examination of blockchain's potential impact on supply chain dynamics, emphasizing its decentralized and tamper-resistant nature as a promising solution to enhance security and transparency. Theoretical frameworks, including the Diffusion of Innovations theory, guide the exploration of blockchain adoption factors, highlighting its significance in addressing challenges such as security breaches and lack of transparency in supply chains. Conceptually, the study underscores blockchain's role in improving accountability, traceability, and disrupting existing power structures within supply chains. Methodologically, it advocates for future research to empirically validate theoretical and conceptual insights through large-scale quantitative assessments of blockchain adoption in diverse supply chain environments. Overall, the study contributes not only to theoretical understanding but also holds practical implications for policy, informing decision-makers and policymakers about the potential of blockchain to bolster security and transparency in supply chains. The research lays a foundation for future empirical investigations and offers insights crucial for shaping regulations and guidelines in the evolving landscape of supply chain management.