The Implementation of Blockchain Technology in Supply Chain Management

Abstract

Blockchain has evolved as an important technology with far-reaching significance for a variety of sectors. Thus, the combination of blockchain and supply chain management has increasingly accelerated the interest of many companies. Blockchain with its characteristics may, on one hand, provide several benefits, yet on the other hand, remain limitations that hinder companies from adopting it in their supply chain management. The objective of the thesis is to investigate the potential benefits and obstacles from the adoption of blockchain technology in supply chain management, as well as recommendations for companies in order to successfully apply the technology in the future. The research was conducted using the qualitative method, in which the data was collected primarily from SmartLog Project – Kouvola Innovation Oy case study and secondarily from the literature review. The theoretical framework revisited the academic terminologies and concepts that are relevant to the research purpose, which includes Supply Chain, Supply Chain Management, and Blockchain Technology. The results of this thesis can provide a demonstration of the advantages and disadvantages of blockchain applications for supply chain management. Also, the suggestions for planning and adopting the technology successfully are explained. The thesis can be utilized as an evaluation material for organizations in their decision-making process to deploy this technology in supply chain management.