Blockchain Technology in Supply Chain Management: Opportunities and Challenges for Businesses
Keywords:
Blockchain, Supply Chain Management, Business Efficiency, Transparency, ChallengesAbstract
Blockchain technology has emerged as a transformative tool for enhancing efficiency, transparency, and security in supply chain management (SCM). This research explores its potential to streamline processes, improve traceability, and reduce operational costs, offering businesses a competitive edge. However, challenges such as high implementation costs, regulatory uncertainties, and technological complexities hinder its widespread adoption. By analyzing case studies and existing literature, this study aims to provide a comprehensive understanding of blockchain's role in SCM, its benefits, and the obstacles businesses face. It concludes with recommendations for addressing these challenges and harnessing blockchain's full potential in supply chain ecosystems.
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