28 March 2024 | Abdel-Aziz Ahmad Sharabati, Elias Radi Jreisat
This paper provides a comprehensive review of the main benefits, limitations, and challenges of implementing Blockchain technology in supply chain management (SCM). The study analyzes articles published between 2016 and 2022 to explore factors influencing the adoption and implementation of Blockchain in SCM. Key advantages of Blockchain in SCM include increased security, confidentiality, traceability, transparency, data accuracy, privacy, efficiency, accountability, and trust. However, challenges such as scaling, interoperability, legal and regulatory issues, high implementation and maintenance costs, lack of standardization, and privacy concerns must be addressed. The paper also highlights the potential of Blockchain to transform SCM by improving transparency, security, and efficiency, but acknowledges significant challenges in its implementation. It emphasizes the need for understanding these factors from various perspectives to determine if Blockchain is suitable for a particular sector and what strategies or networks should be established. Despite these challenges, Blockchain has the potential to significantly enhance SCM processes and contribute to broader industry innovation and efficiency. The paper also discusses the use of Blockchain in other areas such as food safety, supply chain finance, and smart homes, highlighting its potential applications and challenges. Overall, the study concludes that Blockchain technology has the potential to revolutionize various industries, including SCM, but requires addressing key challenges to fully realize its potential.This paper provides a comprehensive review of the main benefits, limitations, and challenges of implementing Blockchain technology in supply chain management (SCM). The study analyzes articles published between 2016 and 2022 to explore factors influencing the adoption and implementation of Blockchain in SCM. Key advantages of Blockchain in SCM include increased security, confidentiality, traceability, transparency, data accuracy, privacy, efficiency, accountability, and trust. However, challenges such as scaling, interoperability, legal and regulatory issues, high implementation and maintenance costs, lack of standardization, and privacy concerns must be addressed. The paper also highlights the potential of Blockchain to transform SCM by improving transparency, security, and efficiency, but acknowledges significant challenges in its implementation. It emphasizes the need for understanding these factors from various perspectives to determine if Blockchain is suitable for a particular sector and what strategies or networks should be established. Despite these challenges, Blockchain has the potential to significantly enhance SCM processes and contribute to broader industry innovation and efficiency. The paper also discusses the use of Blockchain in other areas such as food safety, supply chain finance, and smart homes, highlighting its potential applications and challenges. Overall, the study concludes that Blockchain technology has the potential to revolutionize various industries, including SCM, but requires addressing key challenges to fully realize its potential.