Volume 5, Issue 3, September 2019, Page: 50-59
Blockchain Technology as a Risk Mitigation Tool in Supply Chain
Mian Wasim Layaq, Department of TUL, University of Duisburg-Essen, Duisburg, Germany
Alexander Goudz, Department of TUL, University of Duisburg-Essen, Duisburg, Germany
Bernd Noche, Department of TUL, University of Duisburg-Essen, Duisburg, Germany
Muhammad Atif, Department of TUL, University of Duisburg-Essen, Duisburg, Germany
Received: Sep. 24, 2019;       Accepted: Oct. 4, 2019;       Published: Oct. 15, 2019
DOI: 10.11648/j.ijtet.20190503.12      View  35      Downloads  11
Abstract
The main purpose of this paper is to investigate the research development in supply chain risk management (SCRM) and to connect the new emerging digital technology Blockchain that could help to mitigate risks in any supply chain. Emerging literature, case studies, citations are used to fulfil this the task. The study will explore Blockchain and supply chain risks in details and will compare, how Blockchain based supply chain can mitigate these risks. There are many risks associated to supply chains but we will limit our study to only supply risk and study different areas of Blockchain application in supply chain with supply risk. Blockchain technologies have a potential to upgrade current supply chains. This will not only increase its performance in terms of speedy flow of raw material, finished goods, information and money flow but also help to mitigate current risk in supply chain by increasing visibility and transparency of supply chain. Smart contracts, IoT and Blockchain can serve together to achieve maximum efficiency and effectiveness in SCM. This research contributes to explore further research fields of Blockchain technology in different areas of supply chain risk management.
Keywords
Blockchain Technology, SCM, Supply Chain, Supply Chain Risk Management, Supply Risk, IoT, Smart Contracts
To cite this article
Mian Wasim Layaq, Alexander Goudz, Bernd Noche, Muhammad Atif, Blockchain Technology as a Risk Mitigation Tool in Supply Chain, International Journal of Transportation Engineering and Technology. Vol. 5, No. 3, 2019, pp. 50-59. doi: 10.11648/j.ijtet.20190503.12
Copyright
Copyright © 2019 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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