Employment of Blockchain Technology in Supply Chain Management

Supply chain management is a significant part of industries all over the world as the satisfaction of customers owing to safe, secure and timely delivery of products relies on the strength of the supply chain system of any company, right from the stage when the products were anything but an unprocessed combination of raw materials. Our focus in this paper is to further strengthen the supply chain industry, take a turn from the traditional sense and apply a relatively new technology to the classic processes as we know them and study the synergy it produces. The paper commits to the role of explaining the culmination of supply and blockchain can lead to an efficient and secure way of doing business in various industries in the future. Furthermore, it describes that blockchain not only makes the supply chain management secure for all parties but it also makes the whole process efficient. A case study was done at an Amul warehouse, where different processes, and the turnaround time of carriers employed for them, were thoroughly studied and factors responsible for any delays and lack of efficiency were identified and scrutinised upon and finally alternative methods using blockchain technology were presented as means for improving the quality of the supply chain system as a unit, impacting the security, efficiency, trust and traceability.