Utilization of blockchain in a supply chain
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School of Business |
Bachelor's thesis
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Authors
Date
2023
Department
Major/Subject
Mcode
Degree programme
Tieto- ja palvelujohtaminen
Language
en
Pages
29 + 5
Series
Abstract
The globalization of trade has made supply chains ever more complex, with corporations and organizations striving to make them more resilient and effective. Stakeholders, such as consumers, are increasingly aware of sustainability issues regarding long supply chains. Blockchain has emerged as a solid contestant for improving supply chain management in various ways. This thesis aims clarify the most prominent aspects of blockchain utilization in a supply chain, their implications, and challenges. The thesis is conducted as a literature review (analysis) alongside a small case study. Various credible sources are analyzed to get a comprehensive view of the topic. The literature analysis suggests that blockchain has the means to improve supply chains in terms of transparency, storage management, tracking, costs, and flow of data. Some problems were identified regarding blockchain transactions and scalability. The case study gave empirical evidence in favor of blockchain integration. It should be acknowledged that blockchain utilization requires varying amount of effort, regarding the capabilities of the organization. For some industries, it might be more suitable to use traditional methods. Managerial incentives also play a key role in blockchain adoption, depending on the scale of trade-offs with personal and common interest. At the end, I argue that much of the research remains to be done, especially in terms of scalability and financial performance.Description
Thesis advisor
Kim, SeongtaeKeywords
blockchain, supply chain, internet of things, supply chain management