Blockchain-Based Smart Contracts for Enhancing Transparency and Efficiency in Supply Chain Management
Rashid, Maksuda (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024120332348
https://urn.fi/URN:NBN:fi:amk-2024120332348
Tiivistelmä
This thesis aims to see what further improvements can be made in the scope of transparency, efficiency and traceability within the supply chain using the technology of blockchain and smart contracts together. Yet, traditional supply chain systems are inefficient due to the issues of lack of transparency, centralized control and unnecessary cost. The blockchain and other such decentralized, immutable ledgers excel at addressing data integrity and precisely instantaneous sight ability.
For this research the system developed uses React, Express.js, and a database created with user interaction. In contrast, it can also automatically validate and execute agreements through smart contracts and simultaneously record supply chain transactions. Further, an administrator can define trigger conditions, to validate transactions before getting on the chain.
Interesting new results with respect to transparency, security and cost efficiency are shown. Still, it has the problems of scalability and energy consumption. This novel use of blockchain technology is also highly complementary with other novel solutions to supply chain reliability (such as artificial intelligence), and it is anticipated that further development of blockchain technology could further enhance supply chain predictive capability and resilience. This study's findings contribute to the understanding the limitations that is practical and advantages of blockchain in supply chains with high visibility, are therefore of value to the literature on possible applications of blockchain in supply chain management.
For this research the system developed uses React, Express.js, and a database created with user interaction. In contrast, it can also automatically validate and execute agreements through smart contracts and simultaneously record supply chain transactions. Further, an administrator can define trigger conditions, to validate transactions before getting on the chain.
Interesting new results with respect to transparency, security and cost efficiency are shown. Still, it has the problems of scalability and energy consumption. This novel use of blockchain technology is also highly complementary with other novel solutions to supply chain reliability (such as artificial intelligence), and it is anticipated that further development of blockchain technology could further enhance supply chain predictive capability and resilience. This study's findings contribute to the understanding the limitations that is practical and advantages of blockchain in supply chains with high visibility, are therefore of value to the literature on possible applications of blockchain in supply chain management.