Technology Integration for Improved Performance: A Case Study in Digitization of Supply Chain with Integration of Internet of Things and Blockchain Technology

Abstract

Supply chain networks are global, multi-modal platforms that are expected to facilitate seamless exchange of physical goods, information across multiple industries and enterprises and stakeholders. Current supply chain information systems are limited in term of providing validated, real-time asset specific business relevant information during its lifecycle. Only one or few stakeholders have information access privilege causing both information asymmetry and inefficiencies in the $35T global supply chain market. Emerging technologies such as IoT and Blockchain democratize "trustworthy" data availability and empower stakeholders to make the right decision at the right time in the most cost-effective manner. Digital supply chain integration is progressively becoming a competitive differentiation of enterprises. Organizations leading to this approach of digital supply chain are rapidly improving their asset utilization and enabling new databased services. This paper presents the idea about relevance of complementary technologies like IoT and Blockchain technology for complete digitization of supply chain. The business case of pallet renting vendor is taken to showcase the use of technology integration to improve efficiency of its supply chain and asset management.