Blockchain technology in supply chain operations: Applications, challenges and research opportunities

Dutta, Pankaj; Choi, Tsan‐Ming; Somani, Surabhi; Butala, Richa

doi:10.1016/j.tre.2020.102067

Cited by 869 publications

(551 citation statements)

References 177 publications

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“…Distributed networks help connect multi-organizational business networks such as supply chain in a synchronized manner [13]. The shared ledger in blockchain technology allows data sharing to be made easy since each member in the network receives a copy of all the valid transactions that occurred in the network.…”

Section: B Enhancing Gpo Contract Process Using Blockchain Technologymentioning

confidence: 99%

Automating Procurement Contracts in the Healthcare Supply Chain Using Blockchain Smart Contracts

et al. 2021

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Effectively managing the healthcare supply chain (HCSC) process is crucial for healthcare providers not only during pandemics such as COVID-19 but also in their normal operations. Despite significant advances in new technologies and treatment options providers still suffer from poor procurement, ordering, forecasting, and distribution practices. Group Purchasing Organizations (GPOs) are an important stakeholder in HCSC and benefit providers with cost savings, volume discounts, and vendor selection. However, the current GPO contract process is time-consuming and lacks efficiency. Hence, our proposed solution integrates blockchain technology and decentralized storage to promote transparency, streamlines communication with stakeholders, and minimize the procurement timeline while avoiding pricing discrepancies and inaccuracies. Our solution connects all the stakeholders such as manufacturer, GPO, distributor, and provider using Ethereum network. In this paper, we propose a blockchain solution using smart contracts to automate the GPO contract process. We propose a generic framework for contracting process in the HCSC with detailed algorithms depicting various interactions among HCSC stakeholders. The smart contract code was developed and tested using Remix IDE and the code is publicly shared via Github 1. We discuss various security risks and present detailed cost analysis of various transactions incurred by the stakeholders. Our analysis demonstrates that the proposed blockchain-based solution is economically feasible as only a minimal transaction fee is expended by the stakeholders in the distributed network.

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Section: B Enhancing Gpo Contract Process Using Blockchain Technologymentioning

confidence: 99%

Automating Procurement Contracts in the Healthcare Supply Chain Using Blockchain Smart Contracts

et al. 2021

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“…Keeping aside the literature review type studies (for example, [7,8,15]), in the sample of 48 studies, Table 3 summarizes the key benefits of blockchain applications in the maritime industry.…”

Section: Applications In Portsmentioning

confidence: 99%

“…While studies argue that blockchain provides hacking-free high-level security [8,36,41], a number of hacking events significantly deteriorated the reputation of the blockchains (https://www.technologyreview.com/2020/09/10/1008282/north-korea-hackers-moneylaundering-cryptocurrency-bitcoin/). In permissioned private blockchains (the majority in the maritime), the validation process is assigned to certain users similar to the traditional structure, and therefore, the risk of hacking is negligible with this framework.…”

Section: Data Tampering and Hackingmentioning

confidence: 99%

“…For example, Jović, Tijan [7] conducted a broader review of blockchain in sustainability, supply chain, and transport, along with maritime industry. Similarly, Dutta, Choi [8] reviewed blockchain in several industries, such as finance, technology, manufacturing, etc., where the focus on the shipping industry is rather brief. Second, unlike previous review studies, we provide a detailed overview of the existing literature using two bibliometric analysis tools-VosViewer [9] and Biblioshiny [10].…”

Section: Introductionmentioning

confidence: 99%

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Rise, Fall, and Recovery of Blockchains in the Maritime Technology Space

Munim

Duru²,

Hirata

2021

JMSE

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Blockchain technology, since its introduction, has been expected to be implemented in many areas. Cryptocurrency is one unique example that established a functioning application. On the other hand, blockchain technology is not immune to various challenges related to the nature of itself, privacy management, and antitrust laws, among others. This study lays out the nature of blockchain and applications in the maritime industry, while highlighting the bottlenecks. Potential resolutions and anticipated developments are proposed. To do this, we adopt a systematic approach and present an overview of blockchain in maritime literature. In addition, the fundamental problems with blockchain are investigated, beginning from their essentials to the pain points that are claimed to need improvement. For establishing a legitimate and practically meaningful blockchain platform, stakeholders need to achieve pluralism (consensus validation), privacy, and security of the system.

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“…Moreover, they also introduced a wallet mechanism integrated within the key methods of distribution in the network. The authors of [ 15 ] also conducted a survey focused on challenges, applications, and open study opportunities. Their research reviewed the progress in blockchain technology within various fields, including healthcare, energetic technologies, finance, and some others.…”

Section: Introductionmentioning

confidence: 99%

A Blockchain-Based Trust Model for the Internet of Things Supply Chain Management

Al-Rakhami

Al‐Mashari

2021

Sensors

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Accurate data and strategic business processes are crucial to all parties in a supply chain system. However, the absence of mutual trust can create a barrier to implementation. Several studies have shown that supply chains face challenges arising from a lack of trust with respect to the sharing of data. How well each party trusts the data they receive can have a profound influence on management decisions. Blockchain technology has been widely used to process cryptocurrency transactions. Recently, it has also proved to be effective in creating trust in the Internet of things (IoT) domain. Blockchain technology can facilitate mutual trust between parties who would otherwise have been doubtful of each other’s data, allowing for more effective and secure sharing of data. However, if the blockchain is not IoT-optimized, companies can experience significant delays and the need for extensive computational capacity. Moreover, there are still some limitations regarding the consensus between the nodes in the traditional consensus approaches. Here, we propose an alternative approach to creating trust in supply chains with diverse IoT elements. Our streamlined trust model simplifies data sharing and reduces computational, storage, and latency requirements while increasing the security of the IoT-based supply chain management. We evaluate the suggested model using simulations and highlight its viability.

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Blockchain technology in supply chain operations: Applications, challenges and research opportunities

Cited by 869 publications

References 177 publications

Automating Procurement Contracts in the Healthcare Supply Chain Using Blockchain Smart Contracts

Automating Procurement Contracts in the Healthcare Supply Chain Using Blockchain Smart Contracts

Rise, Fall, and Recovery of Blockchains in the Maritime Technology Space

A Blockchain-Based Trust Model for the Internet of Things Supply Chain Management

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