Utilizing Blockchain Technology for Supply Chain Management in Small Businesses

Thesis Abstract

Abstract
Blockchain technology has emerged as a transformative tool across various industries, offering decentralized and secure solutions for data management and transactions. This thesis explores the application of blockchain technology in supply chain management for small businesses. The study aims to investigate the potential benefits, challenges, and implications of integrating blockchain into supply chain processes to enhance transparency, efficiency, and trust among stakeholders. The introduction sets the stage by providing an overview of blockchain technology and its relevance to supply chain management. The background of the study highlights the current challenges faced by small businesses in managing their supply chains effectively, such as lack of transparency, information asymmetry, and inefficiencies. The problem statement emphasizes the need for innovative solutions to address these challenges and improve supply chain operations for small businesses. The objectives of the study are to analyze the potential impact of blockchain technology on supply chain management in small businesses, identify key factors influencing the adoption of blockchain, and evaluate the benefits and limitations of implementing blockchain solutions. The scope of the study focuses on small businesses operating in various industries, examining how blockchain can streamline processes, enhance visibility, and reduce operational costs. The literature review delves into existing research on blockchain technology, supply chain management, and the intersection of both fields. Key themes explored include the characteristics of blockchain technology, its applications in supply chain processes, and the challenges and opportunities associated with its implementation in small businesses. The review aims to provide a comprehensive understanding of the current state of knowledge in this area and identify gaps for further investigation. The research methodology outlines the approach taken to conduct the study, including data collection methods, sample selection, and data analysis techniques. The study employs a mixed-methods approach, combining qualitative interviews with small business owners and quantitative surveys to gather insights on their perceptions and experiences with blockchain technology in supply chain management. The discussion of findings presents the results of the study, highlighting the key findings, trends, and implications for small businesses looking to adopt blockchain technology in their supply chain operations. The findings reveal the potential benefits of blockchain in improving transparency, traceability, and trust among supply chain participants, as well as the challenges and barriers to adoption faced by small businesses. In conclusion, this thesis contributes to the growing body of literature on blockchain technology and supply chain management by offering insights into how small businesses can leverage blockchain solutions to enhance their supply chain processes. The study underscores the importance of addressing key challenges and concerns related to blockchain adoption while emphasizing its potential to revolutionize supply chain operations for small businesses. Keywords Blockchain technology, Supply chain management, Small businesses, Transparency, Efficiency, Trust