Blockchain for Business

8Blockchain & IoT: A Paradigm Shift for Supply Chain Management

Abhishek Bhattacharya

Whrrl, Thane, Maharashtra, India

Abstract

In this chapter, we shall be taking a varied look at how blockchain can be useful in devising and facilitating a framework for path tracing and quality management in supply chains. Supply Chain Management (SCM) has always been in a need for transparency to make the process much robust, hence a framework based on blockchain could be an answer.

Efforts have been taken across the globe for a long time to shape the global supply chains. This perhaps is most important when it comes to consumer behavior and trust—quality parameters of what they consume. Blockchain technology has proven itself to be worthy of bringing about changes in the global supply chains, starting with food. This chapter takes a look into how blockchain can help with sustainable supply chain management.

Keywords: IoT, supply chain management, consensus, shared ledger, World Trade Organization

8.1 Introduction

Effective Supply Chain Management has now become of importance in organizations worldwide as it is a key element in achieving a competitive advantage. For this reason, supply chains are migrating towards digitalization, and central to this digitalization is blockchain and the Internet-of-Things (IoT). The use of these is relatively new and is still being explored. In this chapter we will delve into Blockchain and IoT with focus on their application in supply chain management and ...