Utilizing Blockchain Technology for the US Supply Chain
Management
Affiliations
1
Department of Business Administration, International American University, Los Angeles, CA 90010, USA
2
Faculty Member of Westcliff University, International American University, Irvine, CA, USA
Abstract
Blockchain technology is being introduced gradually into supply chain management, addressing
long-standing problems and waste-related parts of the industry. This study aims to illustrate the
various ways that blockchain might improve supply chains' efficiency, traceability, security, and
simplicity. Blockchain technology offers a permanent, decentralized record-keeping system that
fosters honesty and trust between participants; all important data is stored in an unalterable
manner. Additionally, supply chain processes like payment processing and inventory
management are automated by intelligent contracts, which significantly lowers both human error
and regulatory expenses. Blockchain's capacity to encrypt this data ensures a high level of
security by guaranteeing information availability in the event of sophisticated cyber assaults.
This increase in security makes the supply chain less vulnerable to sabotage and extortion.
Through the provision of an easily accessible and verifiable record of every trade, this innovation
significantly streamlines administrative compliance. Furthermore, it provides a means of
confirming that the technical support standards and material sources adhere to current standards,
which in turn helps to enhance customer trust in a brand and promote brand identity for the
product bearing the brand mark. The study shows how blockchain technology has enhanced the
capabilities of US logistics companies. It also looks at supply chain manageme...
Keywords:
Blockchain Technology, Supply Chain
Management, Real-Time Tracking, AI
Integration, Blockchain Progressive
Progressions.