Blockchain Technology for Global Supply Chain Management: A Survey of Applications, Challenges, Opportunities and Implications

Abstract

Supply chain management depends on a complex, interconnected network of suppliers, manufacturers, transportation companies, distributors and customers with the goal of predicting, monitoring and controlling operations and processes. Globalization has introduced fierce competition, forcing supply chains to innovate and enhance their performance and capabilities. Centralized management systems are prone to attacks, disruptions and malfunctions. A potential solution to these known issues is the adoption of blockchain technology. The blockchain offers an immutable ledger that allows for a trustless, decentralized system without reliance on third parties. It can provide new features, improve performance, advance network visibility and strengthen the four flows of a supply chain. To survive and compete on the global stage, supply chains must adopt emergent technologies to develop new business strategies. In this paper, a comprehensive survey of academic literature and research works relating to blockchain platforms for global supply chain management is presented. This survey will provide an overview of blockchain technology for supply chain management, summarize industry applications, highlight persistent challenges, and identify research opportunities to enhance the current state of research in the past six years. The contribution of this survey is to also provide a list of available blockchain solutions for global supply chain management and to elaborate on future advancements in the field. New solutions will be proposed and explained.