Blockchain in Supply Chain Management
In today’s globalized economy, supply chain management has become increasingly complex, involving multiple stakeholders such as manufacturers, suppliers, distributors, retailers, and customers. Managing these interconnected processes efficiently requires transparency, security, and trust among all participants. Traditional supply chain systems often face challenges such as lack of visibility, data inconsistencies, fraud, and delays. To address these issues, blockchain technology has emerged as a transformative solution. By providing a decentralized and immutable ledger, blockchain enhances transparency, traceability, and efficiency in supply chain management. Blockchain is a distributed digital ledger that records transactions across a network of computers in a secure and tamper-proof manner. Each transaction is stored in a block, which is linked to the previous block, forming a chain. This structure ensures that once data is recorded, it cannot be altered without the consensus o...