Research paper - Blockchain

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31075.31076.202030-COMBINED-FULLTERM - SUMMER 2020 - INFOTECH IMPORT IN STRAT PLAN (ITS-831-20) (ITS-831-21) - COMBINED - FULL TERM

Week 4 Research Paper: Blockchain Srikanth Gundarapu on Thu, May 28 2020, 3:04 PM

45% highest match Submission ID: 6497b183-1405-4bb0-bf3b-c9e747142dd4

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Block chain in supply chain.docx Running Head: 1 BLOCKCHAIN IN SUPPLY CHAIN 1

BLOCKCHAIN IN SUPPLY CHAIN 4

Blockchain in supply chain Instructor Name – Dr. Paul Czarapata

2 COURSE – ITS 831 - INFORMATION TECHNOLOGY IMPORTANCE IN STRATEGIC PLANNING

Date – 05/28/2020

Blockchain is one of the emerging technologies that have revolutionized the way many industries carry out their operations. The supply chain industry has become one of the beneficiaries of adopting the blockchain technology. In supply chain management, the blockchain technology which is coupled with the ability of programming business logic by using smart contracts promotes transparency in the provenance of many consumer goods; it promotes accurate tracking of assets and the enhanced licensing of products, software services that are important in the supply chain process.

3 THE SUPPLY CHAIN DOES COMPRISE OF COMPLEX NETWORKS OF MANUFACTURERS, SUPPLIERS, DISTRIBUTORS, CONSUMERS, AND AUDITORS. A blockchain IT infrastructure that is shared would help in the streamlining of the workflows in all the parties regardless of the size of the business network (Apte, 2016) In addition, an infrastructure that is shared would aid the auditors with greater visibility in the various activities of participants alongside their value chains.

3 THE BLOCKCHAIN HELPS IN CUTTING COSTS FROM THE WHOLE INFRASTRUCTURE OF THE SUPPLY CHAIN. This is mainly aided by the use of traceability, traceability, and transparency. 3 TRACEABILITY DOES IMPROVE OPERATIONAL EFFICIENCY BY VISUALIZING AND MAPPING SUPPLY CHAIN ENTERPRISES. MANY CONSUMERS DEMAND THE SOURCING OF INFORMATION ON THE PRODUCTS THEY NEED TO PURCHASE. BLOCKCHAIN IS CRUCIAL AS IT HELPS ORGANIZATIONS TO HAVE AN UNDERSTANDING OF THE CHAIN OF SUPPLY, AND THIS HELPS THEM ENGAGE IN ENGAGING CUSTOMERS WITH VERIFIABLE, IMMUTABLE, AND REAL DATA.

Transparency does build trust through capturing primary data points, which may include claims and certification, then later provide access to the data publicly. After registration on the Ethereum blockchain, authenticity can easily be verified with other attesters. 3 INFORMATION CAN THEN BE VALIDATED AND UPDATED AT THE RIGHT TIME (SABERI, 2019). With transparency, the supply chain companies will also minimize the wastage of resources.

Trade ability is a blockchain offering that is unique, which helps in the redefinition of marketplace concepts that are conventional. With the help of Blockchain, one can be able to tokenize a particular asset by splitting objects into various shares which are a representative of ownership digitally (Kshetri, 2018). 3 IN OTHER WORDS, BLOCKCHAIN TECHNOLOGY HELPS IN EFFICIENT OWNERSHIP AS WELL AS LICENSING. It does provide consensus, which simply means that no dispute that is likely to arise in relation to any supply chain transaction.

Training For the Blockchain to serve its purpose, there must be some form of training in place. The entire employees in the industry have to be trained. To foster the training, there is a need to hire a blockchain expert. A good move would be to hire a company such as Ripple. It is a technology company that offers guidance and training on any issues related to blockchain technology. To promote efficiency, training should be done on a regular basis. Maybe twice a year.

Security Security is very crucial in the blockchain technology. As an Information Technology manager, some of the approaches that I would use are the application of Gemalto's safe net security. This is a secure method as it promotes the use of authentication and strong identities, which prevents any illegal access into the blockchain technology. All the communication in the Blockchain will be secured. This can also be boosted by the use of encryption keys. Limit access to the blockchain technology would also be an efficient way of protecting technology against any threat.

4 REFERENCES KSHETRI, N. (2018). 4 1 BLOCKCHAIN’S ROLES IN MEETING KEY SUPPLY CHAIN MANAGEMENT OBJECTIVES. 5 INTERNATIONAL JOURNAL OF INFORMATION MANAGEMENT, 39, 80-89.

6 SABERI, S., KOUHIZADEH, M., SARKIS, J., & SHEN, L. (2019). 6 BLOCKCHAIN TECHNOLOGY AND ITS RELATIONSHIPS TO SUSTAINABLE SUPPLY CHAIN MANAGEMENT. 7 INTERNATIONAL JOURNAL OF PRODUCTION RESEARCH, 57(7), 2117- 2135.

8 APTE, S., & PETROVSKY, N. (2016). 9 WILL BLOCKCHAIN TECHNOLOGY REVOLUTIONIZE EXCIPIENT SUPPLY CHAIN MANAGEMENT? 8 JOURNAL OF EXCIPIENTS AND FOOD CHEMICALS, 7(3), 910

Citations (9/9)

Matched Text

Block chain in supply chain.docx Word Count: 664 Attachment ID: 3009125875

45%

1 https://learn.nextdecentrum.com/emerging-tech/

2 Another student's paper

3 https://consensys.net/blockchain-use-cases/supply-chain-management/

4 Another student's paper

5 Another student's paper

6 https://rd.springer.com/chapter/10.1007%2F978-3-030-35415-2_3

7 Another student's paper

8 Another student's paper

9 ProQuest Document

Suspected Entry: 74% match