BLOCKCHAIN and IoT for Enhancing Supply Chain Security – A review

Abstract

In today's competitive business environment, the goal of a business is long-term survival. As seen that these days, most of the companies are customer driven. They mostly work on a combination of pull and push system Supply chain is an integral part of the manufacturing companies and various other sectors. Keeping this in mind, it is also found that the supply chain faces a lot of threats. This paper looks at various challenges a traditional supply chain faces such as Inventory theft, Information theft, Smuggling and Piracy, Trusting data to third party vendor. So, there is a high sense of need of security and monitoring for the data as well as the products. In this paper we discuss about the steps involved in implementation of Blockchain. This paper will summarize on how Blockchain, which on combining with IoT platform, will provide a real time and a secure supply chain. By doing so, the productivity, efficiency, and profitability of the supply chain can be improved.