Enhancing Supply Chain Efficiency Through Blockchain Integration

Literature Review

Supply chain management is a complex process that involves multiple stakeholders, including suppliers, manufacturers, distributors, and customers. Blockchain technology has been proposed as a solution to address the challenges associated with supply chain management. A system based on blockchain is presented by (Agrawal et al., 2021), for supply chain traceability in the textile and apparel sector that can provide stakeholders a transparent and immutable platform to access up-to-date product information and can lower the danger of counterfeit goods, strengthen supplier accountability, and improve inventory management. In (Agrawal et al., 2018), an integration of digital tools to improve supply chain efficiency, visibility, and responsiveness is presented for digital supply chain management. In (Agrawal et al., 2021) and (Agrawal et al., 2018), the potential of using cutting-edge technologies like blockchain and IoT is shown to boost supply chain management's effectiveness and efficiency. The authors assert that through lowering costs, boosting efficiency, and improving customer satisfaction, the integration of these technologies can increase the effectiveness of the supply chain.