Leveraging the Internet of Things and Blockchain Technology in Supply Chain Management

Modern supply chains have evolved into highly complex value networks and turned into a vital source of competitive advantage. However, it has become increasingly challenging to verify the source of raw materials and maintain visibility of products and merchandise while they are moving through the va...

Full description

Saved in:
Bibliographic Details
Published in:Future internet 2019-07, Vol.11 (7), p.161
Main Authors: Rejeb, Abderahman, Keogh, John G., Treiblmaier, Horst
Format: Article
Language:English
Subjects:
Artificial intelligence
Automation
Blockchain
Competitive advantage
Cryptography
Digitization
Information flow
Internet of Things
Interoperability
Literature reviews
Logistics
Networks
Radio frequency
Raw materials
Research projects
Sensors
supply chain
Supply chain management
Supply chains
Technology
transparency
Value chain
Value engineering
Visibility
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Modern supply chains have evolved into highly complex value networks and turned into a vital source of competitive advantage. However, it has become increasingly challenging to verify the source of raw materials and maintain visibility of products and merchandise while they are moving through the value chain network. The application of the Internet of Things (IoT) can help companies to observe, track, and monitor products, activities, and processes within their respective value chain networks. Other applications of IoT include product monitoring to optimize operations in warehousing‚ manufacturing, and transportation. In combination with IoT, Blockchain technology can enable a broad range of different application scenarios to enhance value chain transparency and to increase B2B trust. When combined, IoT and Blockchain technology have the potential to increase the effectiveness and efficiency of modern supply chains. The contribution of this paper is twofold. First, we illustrate how the deployment of Blockchain technology in combination with IoT infrastructure can streamline and benefit modern supply chains and enhance value chain networks. Second, we derive six research propositions outlining how Blockchain technology can impact key features of the IoT (i.e., scalability, security, immutability and auditing, information flows, traceability and interoperability, quality) and thus lay the foundation for future research projects.
ISSN:1999-5903
1999-5903
DOI:10.3390/fi11070161