Enhancing Supply Chain Transparency, Traceability, and Efficiency through Blockchain and IoT Integration

Abstract

Blockchain and IoT has been a subject of much research interest in supply chain management because it tends to improve traceability and visibility of products. It enables them to address some concerns with data such as data quality or the trustworthiness of the data and the kind of issues with data compatibility that are highly relevant in present day supply chains. The main aim of this study is to understand the benefits of combining blockchain and IoT in improving the supply chain’s transparency and traceability and also the levels of supply chain optimization attainable with this technology. Both quantitative and qualitative methodology has been implemented for this study where content analysis has been implemented to discuss the study’s aim and objectives. 40 were sampled for the quantitative analysis. Descriptive statistics, correlation, and regression analysis were tested.  Blockchain and IoT devices are observed to be effective and important for improving transparency and supply chain traceability. Regarding the quantitative analysis; statistically significant relationship has been determined between the variables, implying a strong and positive influence and association between the variables.