A Study of Blockchain and Iot for Improving Supply Chain Process

Abstract

When operating in today's highly competitive business market, the ultimate objective of every company is long-term survival. As can be observed nowadays, the majority of businesses are driven by the needs of their customers. They mostly rely on a mix of pull and push systems to complete their tasks. The supply chain is a crucial aspect of the operations of manufacturing organisations as well as other industries. Keeping this in mind, it is discovered that the supply chain is subjected to a large number of hazards. A number of issues confronting a conventional supply chain are discussed in this study. These include inventory theft, information theft, smuggling and piracy, and entrusting data to a third-party vendor. In order to protect both data and goods, there is a strong feeling of need for data protection and monitoring. In this article, we will describe the actions that must be taken in order to use Blockchain technology. This article will discuss how Blockchain, when used in conjunction with an IoT platform, can enable a real-time and secure supply chain in the future. The productivity, efficiency, and profitability of the supply chain may all be increased as a result of these efforts.