Thesis Abstract

Abstract
Blockchain technology has gained significant attention in recent years for its potential to revolutionize various industries, including supply chain management. This thesis explores the application of blockchain technology in streamlining supply chain procurement processes. The study aims to investigate how blockchain can enhance transparency, traceability, efficiency, and security in procurement activities within the supply chain. The research begins with an introduction to the concept of blockchain technology and its relevance to supply chain management. It provides a background of the study, highlighting the current challenges faced in traditional procurement processes and the potential benefits of integrating blockchain technology. The problem statement identifies the inefficiencies and vulnerabilities in existing procurement systems, motivating the need for a more secure and transparent solution. The objectives of the study focus on evaluating the impact of blockchain technology on procurement processes, assessing its effectiveness in improving data integrity, reducing costs, and enhancing trust among supply chain stakeholders. The study also aims to identify the limitations and challenges associated with implementing blockchain in procurement and define the scope of the research within the context of supply chain management. A comprehensive literature review is conducted to analyze existing research and case studies related to blockchain technology and its applications in supply chain management. The review covers key concepts such as smart contracts, decentralized ledgers, and supply chain traceability, providing a theoretical foundation for the research. The research methodology section outlines the approach taken to investigate the application of blockchain technology in streamlining supply chain procurement processes. It includes details on data collection methods, sample selection, data analysis techniques, and ethical considerations. The chapter also discusses the research design, data sources, and tools used to gather and analyze information related to blockchain implementation in procurement. The findings of the study are presented in Chapter Four, where the results of the data analysis are discussed in detail. The findings highlight the benefits of blockchain technology in enhancing transparency, reducing fraud, and improving efficiency in procurement activities. The chapter also addresses the challenges and limitations identified during the research, offering insights into the practical implications of implementing blockchain solutions in supply chain procurement. In the conclusion and summary chapter, the key findings of the study are summarized, and recommendations for future research and practical applications are provided. The study concludes that blockchain technology has the potential to transform supply chain procurement processes by increasing transparency, reducing costs, and enhancing trust among stakeholders. Overall, this thesis contributes to the growing body of knowledge on blockchain technology and its applications in supply chain management. The research findings provide valuable insights for practitioners, policymakers, and researchers interested in leveraging blockchain to optimize procurement processes and improve supply chain performance.

Thesis Overview

The project titled "Application of blockchain technology in streamlining supply chain procurement processes" aims to explore the potential benefits and challenges of implementing blockchain technology in the procurement processes of supply chain management. Supply chain procurement plays a crucial role in ensuring the efficient flow of goods and services within an organization, making it essential to optimize and streamline these processes for improved performance and cost-effectiveness. Blockchain technology, known for its decentralized and transparent nature, has gained significant attention across various industries for its potential to revolutionize traditional processes. By leveraging blockchain technology in the procurement processes of supply chain management, organizations can enhance transparency, traceability, and efficiency throughout the procurement lifecycle. The research will delve into the current landscape of supply chain procurement processes, identifying key pain points, inefficiencies, and challenges faced by organizations. By conducting a comprehensive literature review, the study will explore existing research and case studies on the application of blockchain technology in supply chain management to understand the potential benefits and limitations. The research methodology will involve a mix of qualitative and quantitative approaches, including interviews with industry experts, surveys of procurement professionals, and analysis of real-world procurement data. By collecting and analyzing data on current procurement practices and blockchain implementation strategies, the study aims to provide valuable insights into the feasibility and impact of integrating blockchain technology in supply chain procurement processes. Furthermore, the research will examine the key considerations and factors that organizations need to address when implementing blockchain technology, such as data security, interoperability, scalability, and regulatory compliance. By evaluating the technical, operational, and strategic implications of blockchain adoption in procurement processes, the study aims to provide practical recommendations and guidelines for organizations looking to leverage blockchain technology effectively. The significance of this research lies in its potential to contribute to the body of knowledge on blockchain technology applications in supply chain management. By highlighting the benefits and challenges of using blockchain in procurement processes, the study aims to offer valuable insights for organizations seeking to enhance transparency, efficiency, and trust in their supply chain operations. In conclusion, the project on the "Application of blockchain technology in streamlining supply chain procurement processes" aims to provide a comprehensive analysis of the opportunities and challenges associated with integrating blockchain technology into supply chain procurement. By shedding light on the potential impact of blockchain adoption, the research seeks to empower organizations to make informed decisions and strategic investments in enhancing their procurement processes through blockchain innovation.