Utilizing Blockchain Technology for Supply Chain Transparency in Small and Medium Enterprises

Thesis Abstract

Abstract
This thesis investigates the utilization of blockchain technology to enhance supply chain transparency within small and medium enterprises (SMEs). The study aims to address the growing demand for greater transparency and traceability in supply chains, particularly in the context of SMEs where such capabilities are often limited. By leveraging blockchain technology, which provides a decentralized and immutable ledger for recording transactions, the research seeks to improve the visibility and accountability of supply chain processes. The study delves into the potential benefits, challenges, and implications of implementing blockchain technology in SME supply chains, with a focus on enhancing transparency, accountability, and trust among stakeholders. The research methodology involves a comprehensive literature review to explore existing theories and practices related to supply chain transparency, blockchain technology, and the intersection of the two in SME contexts. The study also includes a qualitative research approach, incorporating interviews and case studies with SME representatives and industry experts to gather insights and perspectives on the feasibility and effectiveness of integrating blockchain technology for enhanced supply chain transparency. Findings from the study reveal that blockchain technology offers significant potential to revolutionize supply chain operations by providing a secure, transparent, and decentralized platform for recording and verifying transactions. The implementation of blockchain in SME supply chains can lead to improved efficiency, reduced fraud, enhanced trust among stakeholders, and increased competitiveness in the global marketplace. However, challenges such as scalability, interoperability, and regulatory concerns need to be addressed to ensure successful adoption and implementation of blockchain solutions in SME supply chains. The study concludes with recommendations for SMEs looking to leverage blockchain technology for enhancing supply chain transparency. These recommendations include the need for strategic planning, stakeholder engagement, investment in training and capacity building, and collaboration with industry partners and regulatory bodies to navigate the complexities of blockchain implementation. The thesis contributes to the growing body of knowledge on blockchain technology and its applications in supply chain management, particularly within the context of SMEs. Overall, this research highlights the transformative potential of blockchain technology in driving supply chain transparency and accountability, ultimately paving the way for more efficient and sustainable business practices within SMEs.