Utilizing Blockchain Technology for Transparent and Efficient Supply Chain Management in Purchasing

Thesis Abstract

Abstract
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 to enhance transparency and efficiency in purchasing within supply chain operations. The study investigates the challenges faced in traditional supply chain management systems, such as lack of transparency, data inefficiencies, and trust issues, and proposes blockchain as a solution to address these issues. The research begins with an introduction to the topic, providing background information on supply chain management, the emergence of blockchain technology, and the rationale for the study. The problem statement highlights the limitations of current supply chain practices and the need for a more transparent and efficient system. The objectives of the study focus on exploring the benefits of blockchain technology in supply chain management and evaluating its impact on purchasing processes. The literature review chapter presents a detailed analysis of existing research on blockchain technology and its applications in supply chain management. The review covers topics such as blockchain architecture, smart contracts, supply chain transparency, and the benefits and challenges of implementing blockchain in purchasing and supply chain operations. The research methodology chapter outlines the research design, data collection methods, and analysis techniques used in the study. The methodology includes qualitative and quantitative approaches to gather and analyze data related to the implementation of blockchain technology in supply chain management. The findings chapter presents the results of the study, highlighting the key benefits of utilizing blockchain technology in purchasing and its impact on supply chain transparency and efficiency. The discussion delves into the implications of the findings, practical considerations for implementing blockchain in supply chain management, and potential challenges that may arise. In conclusion, the study emphasizes the significance of blockchain technology in transforming supply chain management practices and enhancing transparency and efficiency in purchasing processes. The thesis contributes to the growing body of knowledge on blockchain applications in supply chain management and provides valuable insights for practitioners and researchers interested in leveraging blockchain technology to optimize supply chain operations.