Implementing Blockchain Technology for Optimized Supply Chain and Enhanced Sustainability

Implementing Blockchain Technology for Optimized Supply Chain and Enhanced Sustainability

Volume 9, Issue 8, August – 2024 | Halida Achmad Bagrafi1 ; Nur Kholis2 ; Mugiyati3 ; Fatikhah Ghofi Nabila4
The article "Implementing Blockchain Technology for Optimized Supply Chain and Enhanced Sustainability" by Halida Achmad Bagrafi, Nur Kholis, Mugiyati, and Fatikhah Ghofi Nabila explores the potential of blockchain technology to enhance supply chain efficiency, transparency, and sustainability. Blockchain's decentralized, immutable ledger provides a secure and transparent platform for tracking raw materials to finished products, ensuring quality and sustainability. It also improves collaboration among supply chain stakeholders by providing a common, trusted platform for data sharing. The implementation of blockchain technology in supply chains can lead to reduced waste, increased resource transparency, monitoring of social standards, and lower operational costs. However, challenges such as scalability, integration with existing systems, lack of expertise, security concerns, and regulatory uncertainty must be addressed. The authors suggest that organizations can overcome these challenges through collaborative approaches, technical improvements, and regulatory compliance. Overall, blockchain technology significantly enhances supply chain sustainability and efficiency, offering opportunities for innovative business solutions.The article "Implementing Blockchain Technology for Optimized Supply Chain and Enhanced Sustainability" by Halida Achmad Bagrafi, Nur Kholis, Mugiyati, and Fatikhah Ghofi Nabila explores the potential of blockchain technology to enhance supply chain efficiency, transparency, and sustainability. Blockchain's decentralized, immutable ledger provides a secure and transparent platform for tracking raw materials to finished products, ensuring quality and sustainability. It also improves collaboration among supply chain stakeholders by providing a common, trusted platform for data sharing. The implementation of blockchain technology in supply chains can lead to reduced waste, increased resource transparency, monitoring of social standards, and lower operational costs. However, challenges such as scalability, integration with existing systems, lack of expertise, security concerns, and regulatory uncertainty must be addressed. The authors suggest that organizations can overcome these challenges through collaborative approaches, technical improvements, and regulatory compliance. Overall, blockchain technology significantly enhances supply chain sustainability and efficiency, offering opportunities for innovative business solutions.
Reach us at info@study.space