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New Era in the Supply Chain Management With Blockchain: A Survey

New Era in the Supply Chain Management With Blockchain: A Survey

Jesus Alvarado, Malka N. Halgamuge
Copyright: © 2019 |Pages: 37
ISBN13: 9781522590781|ISBN10: 1522590781|ISBN13 Softcover: 9781522590798|EISBN13: 9781522590804
DOI: 10.4018/978-1-5225-9078-1.ch001
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MLA

Alvarado, Jesus, and Malka N. Halgamuge. "New Era in the Supply Chain Management With Blockchain: A Survey." Industry 4.0 and Hyper-Customized Smart Manufacturing Supply Chains, edited by S.G. Ponnambalam, et al., IGI Global, 2019, pp. 1-37. https://doi.org/10.4018/978-1-5225-9078-1.ch001

APA

Alvarado, J. & Halgamuge, M. N. (2019). New Era in the Supply Chain Management With Blockchain: A Survey. In S. Ponnambalam, N. Subramanian, M. Tiwari, & W. Wan Yusoff (Eds.), Industry 4.0 and Hyper-Customized Smart Manufacturing Supply Chains (pp. 1-37). IGI Global. https://doi.org/10.4018/978-1-5225-9078-1.ch001

Chicago

Alvarado, Jesus, and Malka N. Halgamuge. "New Era in the Supply Chain Management With Blockchain: A Survey." In Industry 4.0 and Hyper-Customized Smart Manufacturing Supply Chains, edited by S.G. Ponnambalam, et al., 1-37. Hershey, PA: IGI Global, 2019. https://doi.org/10.4018/978-1-5225-9078-1.ch001

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Abstract

The results show that transparency and auditability, security and indelibility, and distribution and sustainability are the key attributes of blockchain-based solutions in 56% of the articles reviewed. These three aspects represent the foundation of blockchain technologies which may contribute positively to improve supply management processes. Moreover, immutability, tracking and tracing, and smart contracts are also included in nearly a third of the cases. Moreover, efficiencies and costs through this technology would reduce the costs in payment of intermediaries, reduce paperwork, and help in the shipment of physical documents. Supply chain plays a critical role in the global trade and urgently needs to reassess its models in searching for greater efficiencies. Moreover, better results in visibility across the chain will increase trust for the customers and all interested parties. Secure transactions, strong security mechanisms that prevent fraud and illegal practices, could be achieved through the blockchain.

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