Blockchain Technology in Supply Chain Management: Enhancing Transparency and Efficiency in Procurement Processes

Thesis Abstract

The abstract for the thesis on "Blockchain Technology in Supply Chain Management Enhancing Transparency and Efficiency in Procurement Processes" is as follows Blockchain technology has emerged as a disruptive innovation with the potential to revolutionize various industries, including supply chain management. This thesis explores the application of blockchain technology in enhancing transparency and efficiency in procurement processes within supply chain management. The research aims to investigate how blockchain can address the challenges of trust, transparency, and inefficiencies in traditional procurement systems. The study begins with a comprehensive review of the relevant literature on blockchain technology, supply chain management, and procurement processes. The literature review highlights the benefits and limitations of blockchain technology in supply chain management and identifies gaps in existing research. This forms the foundation for the empirical investigation that follows. The research methodology chapter outlines the research design, data collection methods, and analysis techniques employed in the study. A mixed-methods approach is adopted to gather both qualitative and quantitative data from industry experts, procurement professionals, and blockchain technology developers. The data is analyzed using thematic analysis and statistical techniques to derive meaningful insights. The findings chapter presents the results of the empirical investigation, focusing on the impact of blockchain technology on transparency, trust, and efficiency in procurement processes. The findings reveal that blockchain can significantly improve the traceability of goods, reduce fraud and errors, and streamline procurement transactions. The discussion chapter interprets the findings in the context of existing literature, highlighting the implications for practice and future research. In conclusion, this thesis contributes to the growing body of knowledge on blockchain technology in supply chain management by demonstrating its potential to enhance transparency and efficiency in procurement processes. The study underscores the importance of collaboration between stakeholders, the need for regulatory frameworks, and the integration of blockchain with existing systems. The thesis concludes with recommendations for practitioners, policymakers, and researchers to leverage blockchain technology for sustainable supply chain management practices. Overall, this research provides valuable insights into the transformative power of blockchain technology in supply chain management and sets the stage for further exploration of its applications in procurement processes.