Introduction of Blockchain Technology in Supply Chain Management

Chinmay Kulkarni, Koushik Gangipelly, Naga Subramanyam

INSE 6300: Quality Assurance in Supply Chain Management

Abstract- Supply Chain Management is a major part for the company to the blockchain, it cannot be altered, turning a blockchain into an
to be running upon. The flow of materials, goods and services depends immutable record of past activity.”
on how they have been processed from one stage to another, provide
end to end satisfaction, within the company and to their customers.
Although the process involved considers all the issues that are come
across from the suppliers, distributors and the buyers, there are
possibilities of material being tampered or being delayed before
reaching the designated areas. In effect, an end-to-end supply chain,
from raw materials to final product in a customer’s procession is
opaque. Most of this complexity can be resolved by supply chain’s
transparency and traceability. This can be possible with the help of
blockchain. Blockchain technology is a very interesting concept for
linking and creating the transparency and easy traceability for the
transactions that occur online and can be possibly integrated in the
system of Supply Chain.
Figure a: An overview of Blockchain process
Index terms: Blockchain, Supply Chain, Smart Contracts, Enterprise
Resource Planning, Smart sensors, Transparency, Traceability, This technology that has been observed and experimented with various
Efficiency benefits, is now being explored to the roots, to see how it helps and
benefits the process involved in the transparency and the traceability,
which can be improved for the Supply Chain Management(SCM). [2]
METHODOLOGY
Through this literature review, we tried to introduce blockchain B. Applications of Blockchain
technology which is changing the face of supply chain and its
With the ease of transparency and the traceability of the block chain that
applications in different industries. We focused on various issues that
is being observed, this technology has various applications and is
may arise during an end-to-end supply chain and how blockchain
widely used in various industries
technology can help increasing transparency and traceability in supply
chain management using an example of china’s agri-food supply chain
In the Banking Industry
industry. Finally, we tried exploring the advantages in integrating
Helps in reduced transaction costs and settlement time
Enterprise resource planning (ERP) system of supply chain with
blockchain technology.
Insurance Industry
It helps to eliminate the cost and time of processing the insurance
claims, keeping the transparency for the records and reduces frauds.
INTRODUCTION
A. Blockchain Healthcare Industry
Reduces time and increases efficiency in providing the patients with the
Blockchain was introduced to the world in 2008 in a whitepaper quotes. In-turn resulting in complete tamper-resistant medical history.
describing a new kind of electronic currency know as Bitcoin. In the
past years after this concept was introduced, several other use cases for
Real Estate
blockchain has emerged and have been used as a concept for various Involved no intermediate leads in reducing the cost, improving record
other applications. A blockchain efficiently records transactions transparency and fraud prevention.
between parties on a distributed ledger. The data recorded on a
blockchain is immutable and instantly verifiable. A blockchain can also
Education
be programmed to automatically trigger transactions using smart Helps in eliminating the education un-claimed credits, improving the
contract technology. [1] verification process and have better organized records.

The blockchain is an immutable and transparent distributed database,
also known a ledger which has global consensus by all participants
involved in the network of the transactions. This means that the things
written in the ledger can’t be edited and cheated, thus trusted if the
writer is trusted. This information can also be seen and is shared among
all the people involved in this complete process which is called as the
digital data.
As defined by Seebacher and Schuritz,
“A blockchain is a distributed database, which is shared among and
agreed upon a peer-to-peer network. It consists of a linked sequence of
blocks (a storage unit of transaction), holding timestamped
transactions that are secured by public-key cryptography (i.e., “hash”)
and verified by the network community. Once an element is appended
Supply Chain Management
Provides transparency in logistics, storing of goods and real time
tracking- stage. Which will help in improving the trust due to the
information evidence.
C. Supply Chain Management
Supply chain management is a set of approaches, utilized to efficiently
integrate the suppliers, manufacturers, warehouses, and stores, so that
merchandise is produced and distributed at the right quantities, to the
right locations, and at the right time, to minimize system wide costs
while satisfying service level requirements and to enhance the process
right from the stage of raw material procurement to the delivery of the
products to the customers.

Figure b: Supply Chain Management (Source: Internet)
Supply Chain Management encompasses the planning and management
of all activities involved in sourcing and procurement, conversion, and
all logistics management activities. Importantly, it also includes
coordination and collaboration with distributors, who can be suppliers,
intermediaries, third party service providers, and customers. Supply
chain management integrates supply and demand management within
and across companies to make the process faster than expected. [12]
D. Components of Supply Chain Management [5]
Plan
The very first stage in supply chain management is to plan. A plan or
strategy must be developed to address how a given good or service will
meet the needs of the customers within the estimated duration. It is very
important on planning a profitable supply chain for any given
company. This is the strategic portion of SCM. Companies need a
strategy for managing all the resources that go toward meeting customer
demand for their product or service with the desired quality that they
would expect.
Develop:
This stage involves, building a strong relationship with suppliers of the
raw materials needed in making the product the company delivers. It
not only considers identifying reliable suppliers, but also planning
methods for shipping, delivery, and payment.
Companies must choose suppliers to deliver the goods and services they
need to create their product. Therefore, it is important that, supply chain
managers must develop a set of pricing, delivery and payment processes
with suppliers and create metrics for monitoring and improving the
relationships.
Make
This step mainly involves with the manufacturing from the companies.
Here, the products are made using the various processes and the designs
that are approved from the customer’s end. This process involves
checking on production, testing, packaging and delivery. The stage
where it helps the companies to measure their quality of the products
that are being made.
Deliver
After the products are being manufactured and passed on to the logistics
phase, customer orders are received and delivery of the goods is planned
as per the customer needs based on quantity and time. This is the part is
referred to as logistics, where companies coordinate the receipt of
orders from customers, develop a network of warehouses, pick carriers
to get products to customers and set up an invoicing system to receive
payments.
Return
The final stage of supply chain management is also referred to as
reverse logistics. As the name suggests, during this stage, customers
may return defective products at any time, if not satisfied with it. The
company will also address customer questions in this stage to get a
feedback on the same. Since, this causes a problem to many companies,
a responsive and flexible network for receiving defective and excess
products back from their customers and supporting customers who have
problems with delivered products must be created by the planning
department of Supply Chain.
E. Working of the Supply Chain
Figure c: Process in Supply Chain (Source: internet)
In a supply chain, every component is connected to have the same
information flowing in the cycle. Right from the raw material to the
products that reach the customers, every step is updated with the
requirements that are to be satisfied. Seen in the figure above, where the
first step is Market research. Here, the need of the product in the market
is identified and passed on to the designing company. When the
designer get the raw material information after the analysis of the data
from the market research, the process for the development is started.
The design is then passed on to the company that manufactures the
product. Here, the company is supported financially by the funds and
various investors like business customers, are involved in the shares that
would be obtained when the product is in the market. After the
manufacturing is done, the products are stored in the inventory and then
supplied to the distributors, who move the products to various retails
through the suppliers. [4]
Here, logistics place a very crucial role. Since, the products must reach
various parts of the world, the time and distance are calculated and
planned accordingly by the transportation companies which make sure
that everything is on the estimated time duration. Finally, the products
reach the market and are then owned by the customers.
During this whole process, there is continuous monitoring of the market
research team to know the exact requirement of the customers, as the
needs change with time. Every component in the chain is interlinked so
that the information is the same to have a clear traceability and
transparency in the data.
F. Enterprise Resource Planning in Supply Chain Management
Now that we are aware of the whole process of the Supply Chain and
its working principle, it is important to know about how the data and
information is being stored at every single step. As discussed, it is very
important that the data is uniform and the same when it is being stored
so that every organization or the company involved can rely upon. To
do so, concept of Enterprise Resource Planning (ERP) is used to
maintain the uniformity in the supply chain. ERP is set up to individual
companies, based on their requirements for the software type of data
and information storage. [13]
Enterprise resource planning (ERP) takes care of standardizing and
integrates business processes across finance, human resources,
procurement, distribution, and various other departments where the
information is needed to be shared. Typically, the software operates on
an integrated software platform using common data definitions
operating on a single database. ERP systems are designed with a
common, defined data structure, which usually has the same database.
ERP systems provide access to enterprise data from multiple activities
using common constructs and definitions and common user experiences
making it easy to access for the authorized employees of the
organizations.
This principle is the central collection of data for wide distribution
across the company. Instead of several databases with an endless
inventory of unorganized spreadsheets, With a secure and centralized
data, everyone in the organization can be confident that data is reliable,
updated, and complete. It is made sure that the data’s integrity is
maintained and is made available at any given time. [14]
ERP software is adapted in all the organizations and the data is shared
accordingly to the other companies when needed, since this software is
for individual company. This enables organizations to share complete
or just the needed data when needed at a given stage in the supply chain.
G. Limitations of ERP
Two main factors affect the process of ERP being reliable.
 Manipulation of the data
 No In-depth Information of a specific product
 Centralized Business Process
The aspects where the traceability and transparency gets compromised,
when in the hands of the centralized business process. [11]
I. CHALLENGES IN SCM
Since Supply chain is a very big link that is associated with the various
levels, starting from the industries that provide raw material, to the
designers, production and manufacturing, distributors and suppliers,
and finally to the companies of different industries, there is lot of
information that is being exchanged and passed on during the whole
process of obtaining the results of a specific product or the goods that
are in requirement.
This linkage is not only seen in a city, but it can be all over the world.
It becomes very had for the systems to get the accurate information on
every stage and it so happens that the information is lost in this linkage
of data sharing. Given the complexity and the business processes
involved, there are many challenges associated with SCM. For example,
the supply chain of apple has employed over 1.6 million people in 20
countries (Apple 2016). So, this will make it very difficult to track
events happening in a supply chain and trace issues.
Angwei Law discusses that these challenges can be broadly classified
into two types: [6].
Planning Stage: Involves determining the supply and demand.
Coordinating Stage: Involves the physical movement of goods.
A. Planning Stage
Demand Forecasting
Every product has certain demand and it is not that easy to figure
out the demand of a product. If we classify products into two categories
as consumer staples (e.g.: Home Appliances), the demand can be
relatively predictable but for consumer discretionary (fashion
technology etc.) products, the demand is highly unpredictable and there
are lot of factors that can affect consumer’s decision. Supply chain
managers have developed certain models to forecast demand using
historical data.
Inventory Management
It involves ensuring the balance between supply and demand. If
supply is low, profits are affected due to lost sales and if supply is high,
there is too much inventory and holding costs, which in turn reduces
profits. There are several existing models such as EOQ, Newsvendor to
counterfeit these issues. They determine optimum levels of quantity to
maximize profits and reduce costs.
B. Coordination Stage
Information sharing and Product Traceability [21]
Without the availability of real-time information to track the
progress through the production cycle, it would be very difficult to
update forecasts and respond to negative events. Unfortunately, if the
product is delayed due to some reasons, then it will have an impact on
future customer relationships and on organization’s brand. Lack of
information sharing is also a barrier to trust and collaboration between
supply chain stakeholders. (Anders V. Hua, Jorgen S. Notland, 2016).
A strong and trusted network where individuals can share about
information should be built to increase interpersonal information
exchange in supply chain. (Razavi & Iverson, 2006).
Managing risks and disruptions
Given the wide geographical and organizational spread of supply
chain, it is important to plan and react to contingencies as there is a need
to minimize the impact of disruptions and ensure every operation in
supply chain continue smoothly even in the event of an emergency.
Supply chain managers should have adequate backup plans to ensure
the chain is flexible enough to handle sudden changes without too much
delay. A better way to manage risks and disruptions is through increased
visibility along the supply chain. With help of information sharing a
product traceability, companies can remain nimble and stand ready to
respond quicker in the event of disruption. With better information, they
can also use a more targeted approach to address issues.
Push for Transparency
To ensure better product safety and quality, there is a push toward
greater transparency in provenance of goods especially in the food
supply chain industry. For example, McDonald’s, the world’s largest
fast food provider had drawn a lot of flak previously for using products
that are not fresh and untrustworthy. To decrease the criticism,
McDonald's reviewed its supply chain practices and made them more
transparent.
Building trust through Transparency
Level of trust among supply chain partners can be achieved by
sharing of information and increased transparency. This trust can also
overcome all the challenges that are discussed so far. Also, trust helps
to increase commitment and decreases behavioral uncertainty in supply
chain as stakeholders are more aligned with common goals and values.
When all the stakeholders are on the same page, supply chain will be
more flexible and can adapt to any situations and make decisions faster.
On the other hand, absence of trust can cause issues in supply chain as
lot of time and money is wasted on verification (Kannan & Tan 2006)
(Anders V. Hua, Jorgen S. Notland, 2016).
Major advances have been achieved in the past few decades in
Supply Chain Management systems. Increased maturity and adaptive
levels of Enterprise Resource Planning (ERP) solutions, have allowed
companies to effectively manage their internal logistics processes in
warehousing, order management, financing, billing, as well as
servicing. Increasing demand for national and international trade led to
the emergence of Business to Business (B2B) platforms, that are
powered by supply chain operating networks (SCONs). These networks
are often supplier-centric and serve a specific industry sector. Examples
of commercially available Supply Chain Operating Networks solutions
include Systems Applications and Products (SAP). SCONs can be
integrated with the organization’s ERP and enable information
exchange among trading partners using standard EDI messaging.

Figure d: Network of SCM Operations with ERP
Indeed, in the past decade, large manufacturers started outsourcing their
physical distribution to third party logistics operators. This allowed
manufacturers to focus on their core business. However, along the
expansion in both national and international trade, this trend created
complex logistics networks in various industries. To overcome these
complexities, Transportation Management Systems (TMS) started to
evolve from the traditional fleet management systems for vehicle
tracking to include additional services such as shipment-level tracking.
But there are various factors, that come across while in the process of
overcoming the complexities.
 Information tracking is not validated
 Continuity along the multiple carriers is not guaranteed
 The information that is tracked by the carriers is still managed and
then passed on to the stake holders.
These are the major issues that are faced by various industries. But,
these factors are possible to the overcome in case of the tier 1
companies. In-case of the small and medium companies, the number of
partners are high and the productivity is quiet low. This in turn affects
the information from being traceable and trustable, which further
becomes difficult for the information to be reliable. To overcome all
these issues which is a big concern, when it comes to the growth of the
industry to have transparency and traceability of the information, the
technology of Blockchain is implemented.
II. SMART CONTRACTS [6].
Smart contract is a piece of code that executes on a blockchain. It is a
digitally signed agreement between two or parties. On a smart contract,
the terms of the contract are defined by computer code as a set of
instructions (Blockchain Technologies 2016). It is characterized by
being autonomous, self-sufficient and decentralized (Swan, 2015).
They help you exchange money, property, shares or anything of a value
in a transparent, conflict freeway while avoiding the services of a
middleman. (blockgeeks.com/guides/smart-contracts/).
A. Working of a Smart Contract
It mainly works on three major steps for the information sharing in the
supply chain.
Figure e: Process of Smart Contract
As seen in the images above, the first one is the option contact between
the parties where a code is written in the blockchain. This way the
people involved are anonymous and the information is available as a
public ledger.
Once this is set up, a contract executes itself based on the terms and
conditions. Later, the regulators can use the information in the
blockchain, to understand the activity in the market while maintaining
the privacy of the individual actor’s positions.
For example, renting an apartment can be done through smart
contracts where payment from tenant to owner will be done using
cryptocurrency. Receipts are held as virtual contracts between two
parties. Owner will issue digital key to tenant which arrives by certain
date they have agreed and specified it over the contract. If the key
doesn’t come on time, blockchain will release auto refund. If the key
arrives on time, the function will release both key and fee to tenant and
owner thus making it a faultless delivery. This document will be then
automatically cancelled after the time and the code cannot be modified
by both the parties as other would be alerted if one tries to change the
code.
B. Benefits of Smart Contracts in Supply Chain [6].
The smart contracts show three major benefits in terms of having a
better version of the supply chain design.
 Transparency
 Traceability
 Efficiency
Transparency [2] [6]
Smart contracts can increase transparency by recording the Origin
of goods. They help in storing information such as date, location, and
production team involved etc. on the blockchain. With this information
one can easily verify the origin of the product. It helps in providing an
assurance to manufactures that their raw materials are coming from
reliable sources and consumers can have more confidence in buying a
legitimate product. When it comes to real world examples, companies
such as Everledger has already entered this field. They are using Smart
contracts to improve transparency in diamond supply chain to prevent
issues such as forced labor and blood diamonds (where sale of diamonds
is used to spread violence).
Another benefit is through blockchain ledgers a single version of
truth flows across all the networks of the supply chain transactions,
processes and partners. All the information related to the product, for
example serial number of the batch, its origin, transportation details
such as date, location, number of containers, accounting details such as
purchase orders, receipts, shipment notifications can be stored on
blockchain and are accessible to stakeholders on the network.
Traceability
With smart contracts in SCM, we can track the inventory at every
step along the long way. This can be achieved by using serial numbers
or IoT devices such as RFID tags, smart sensors. With the rapid growth
of IoT and connected devices, smart sensors are promising as they can
potentially provide lot of data such as location, environmental
conditions (useful for pharma products) and even the product quality
(Especially for perishable goods). With this real-time information,
supply chain managers will be able to make better, faster and reliable
decisions. For example, if they found (with the help of smart sensors)
that a batch of goods are deteriorated in midway through the supply
chain process, they can activate a reserve batch instead of waiting until
the bad batch arrives and then decide. This helps to reduce delays and
keep the process agile.
Another example, in the Chipotle viral outbreak, company would
have resolved the issue faster if it had could trace its food sources to
right suppliers. Once the contaminated food has been identified, they
could have figured out the stores that had received goods from the same
supplier and removed those items immediately. This could have helped
them in mitigating the damage done.
Efficiency
Smart contracts can help increase the efficiency of Supply chain
management in two ways:
 Process Efficiency
 Cost Reduction
Process efficiency
As smart contracts are executed on distributed ledgers, they can help
simplify the complex multi-party systems present in typical supply
chains. Smart contracts can be programmed in such a way to be
executed only if certain milestones are met, so that stakeholders can be
more trustful and have not be worried about unfulfilled obligations that
may arise. For example, a smart contract can only be executed to pay a
supplier only if the product is received in good quality within specified
timeframe. Imagine a GPS tracker in a ship that triggers a payment that
is instantly settled on a blockchain once the GPS location of the ship
proves that the ship has reached the destination. This can ensure that
manufacturer is free from rogue suppliers and eliminates the supplier’s
risk of not getting paid for the work performed.
Cost Reduction
As we have seen, smart contracts are customizable and executed after
meeting certain criteria, companies can trust on a computer code to
execute contractual agreements rather than numerous physical
documents that need to be maintained by both parties. This helps in
reduction of costs of maintaining cumbersome documents and the
amount of manual effort undertaken. As identity and reputation is being
saved on a database which everyone can see, costs associated with
conducting certification checks and building new trusted business
relationships will be reduced.
C. Agricultural-food Traceability System based on RFID &
Blockchain Technology for China [7]
For past few years, food safety has become a major concern in China as
a series of food safety incidents has occurred one after the other, such
as ‘Sudan red’, ‘clenbuterol’ etc. and even in Europe there was a ‘horse
meat scandal’ in 2013(Boyacia et aI., 2014). With these issues food
safety, has become a major problem in china, and building an
agricultural-food supply chain traceability system is becoming more
and more urgent.
D. Building Process of the System
Production link
Here, for plants RFID tags are used on their packaging where
information such as variety, name, producing area, planting time,
fertilization condition etc. are stored and for animals, RFID ear tags are
normally used to save data such as information of parents, fodder,
epidemic prevention checking and medical situation, from birth to
slaughter. Also, information such as production managers and
operational staff is stored, if once any issue occurs, relevant managers
associated with the accident can be easily traced.
Processing link
In this stage, items from production stage will come for processing
units for processing. Processing industry can access the basic
information present on the tags and update their processing information
such as product type, weight, expiration date, storage conditions,
inspection etc. on to RFID tags. This information will be updated to
respective blocks in blockchain system and all the other nodes of the
network will check and approve it.
Warehouse Management link
Information such as storage environment, agri-food’s receiving and
delivery time of products received from process stores to warehouse
center can be automatically obtained by setting up RFID equipment in
Warehouse center. This information should be saved on blockchain
system and opened to all members in the network. This process not only
improves the efficiency of warehouse’s management but also satisfies
enterprise requirement for dynamic storage management which could
enhance the quality and safety of stored products as well.
Also, to minimize loss, depending on the product quantity and storage,
warehouse managers can decide on the products that has to be moved
first. Finally, information from these RFID systems can be used to
check real-time environmental information such as cold storage
including temperature and humidity to ensure food safety and prevent
food safety accident issues.
Cold chain distribution link
This is the best part of implementing blockchain technology with
IoT in supply chain management. In this stage, the main idea is ensuring
3T (time, temperature, and tolerance) in safety and quality of agro-food.
So, temperature and humidity sensors are placed in the vehicle along
with wireless network and a computer. This system allows delivery staff
to transfer temperature and humidity real-time data of agri-food to
blockchain system. So, every node in the network will be updated with
real-time data of the products. If the temperature and humidity exceeds
certain level, an alarm will be raised immediately notifying changes
occurring to the products. Finally, a GPS technology mounted in the
vehicle, will help find the optimum route shorten distribution time
which in turn guarantee the freshness of the agro-food.
Sales link
Customers can obtain product’s information by using RFID reader
and scanning RFID tags of the product purchased. Moreover, with the
help of blockchain technology, customers can obtain detailed
information by inspecting blockchain system. This transparency in
obtaining product’s information could significantly improve the
customer’s trust for products and helps in raising profits for the
company.
III. LIMITATIONS OF BLOCKCHAIN TECHNOLOGY
High cost [10]
Implementing Blockchain with IoT devices will require high cost.
Also, implementing these systems involves more investments from the
company to build up new systems and to upgrade them with the new.
So, we suggest is to use RFID tags or sensors to a pallet or container
instead of each single item. It’s always better to increase prevention
costs rather than facing failure costs.
Immaturity of blockchain
Though we have seen some successful implementations of
blockchain currently by some industries, due to its immature nature
blockchain technology perhaps is not completely ready to be used in
real-world scenarios. Also, capacity of blockchain in processing a
transaction is7/second, whereas other technologies are far higher.
IV. INTEGRATING BLOCKCHAIN WITH ERP [9]
As we are familiar with the ERP and Blockchain systems which
deals with the automating the operations of different business streams.
In various ways Enterprise Resource planning is much like Blockchain.
A. Implementing Blockchain with ERP
These are few key aspects of ERP:
 An ERP system centralizes your business data.
 It gives a single point of contact.
 It shows Real-time data from different business areas.
 It prevents from altering the data which has been stored.
If the above aspects are used with the Blockchain then ERP systems
will give the following advantages: [11].
 Creating a tamper-proof, unalterable record of stored data.
 Centralizing business process and workflows across multiple
departments.
 Data interoperability for banks and financial institutions.
 Top-notch protection against online threats.
From the above points, we can say that ERP is giving us managing
business process and workflow. It uses (DBMS) Database Management
system which gives access to handle all the bank-end functions of office
in real time with a series of integrated application. As same as this the
block chain also uses a real-time data base which stores the data in a
series of blocks in chronological order, which makes us easy to
implement/integrate with ERP to gain all the above advantages.
Here is a small example, as we know that there are different
departments in a company. For a while marketing team is using one of
the software to makeup the invoices and this same invoice is needed to
the accounting department to manage the sales, however this data needs
to get shared between these two teams, which leads to negative results
for a company/business. The negativity in the company arises due to
lack of trust and compatibility between those two teams. Every
organization has their own standards, procedures &own formats, it is
very simple to hold the blockchain technology. In additional blockchain
does not work based on ROI, but it works in strategic like preventing
from the malicious attacks, and malware attacks ERP makes a vital role
in the organization, it deals with Purchase order, invoice, financial &
payments. By implementing ERP with block chain the true data
interoperability between the different teams and banking sector, online
payments and contract management facilities can be obtained.
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[19] Aiming for Supply Chain Transparency: Exploring the
Potential of Blockchains
http://lup.lub.lu.se/luur/download?func=downloadFile&recordOId=89
27100&fileOId=8927102
[20]https://pdfs.semanticscholar.org/24cd/eb7d7421012c2fdd362b8e2
816c105b7071f.pdf
[21] Blockchain enabled Trust & Transparency in supply chains
https://keepingstock.net/link-to-original-paper-https-www-pdf-
archive-com-2017-02-01-project-thesis-anders-j-rgen-project-
3921bf4cbdd7