Supply Chain in Blockchain– A Review

Abstract

The blockchain technology acts as a foundation for distributed ledgers and an innovative platform for a new decentralized and transparent transaction mechanism in industries and businesses is offered by it. Supply chain traceability is impacted by growing consumer awareness and manufacturers internal quality requirements. When multiple parties are involved, existing centralized solutions suffer from isolated data storage and lacking trust. Decentralized blockchain-based approaches facilitate to forestall these issues by making digital representations of physical goods to facilitate tracking across multiple entities. The potential advantage of this emerging technology in manufacturing supply chain is then discussed and a vision for the future blockchain ready large scale manufacturing supply chain is proposed. Ultimately, a discussion of the requirements and challenges to adopt this technology in the future manufacturing systems is done.