Blockchain in Supply Chain Management

For the past few years, the market has changed a lot and it has become dynamic and demanding which has put the market into a competitive environment. The supply chain plays a crucial role to adapt the business to the dynamic environment as it is very reliant on collaboration integration as well as flexibility. The applications related to the supply chain have gotten the attention of many business owners and to improve the flow control of the supply chain many specialized applications are implemented. One of the most important new technological applications in the supply chain is blockchain technology which has garnered the attention of many business owners as it can be quickly adapted to dynamic market conditions and in the business environment. One upon reading this will get to know about the effect of blockchain technology utilization on this field. The results of the research paper recommend that companies invest in blockchain technology so that the supply chain becomes more transparent, flexible, and secure. There is no doubt in the fact that blockchain technology plays an important role in developing trust with the stakeholder of the supply chain. In the end, the research paper has also given some considerations on the implications that are positive as well as the potential of the blockchain in the field of collaboration and integration.