Blockchain technology for sustainable supply chains: A comprehensive review and future prospects
1 Business Analytics, International Institute of Management Studies, Pune, India.
2 Finance, SBES, Pune, India.
3 Dean and Head of International Relations, International Institute of Management Studies, Pune, India.
4 Economics, IIMS Pune, India.
Review Article
World Journal of Advanced Research and Reviews, 2024, 21(03), 980–994
Publication history:
Received on 01 February 2024; revised on 06 March 2024; accepted on 09 March 2024
Abstract:
As global concerns about environmental sustainability and ethical sourcing continue to rise, supply chain management faces increasing pressure to adopt transparent and accountable practices. This research paper provides a comprehensive review of the application of blockchain technology in the pursuit of sustainable supply chains. By leveraging the decentralized and immutable nature of blockchain, organizations can enhance transparency, traceability, and overall sustainability throughout the supply chain. The paper reviews existing literature, analyzes real-world case studies, and identifies key benefits and challenges associated with implementing blockchain in supply chain management. Furthermore, the research explores potential future developments and innovations in blockchain technology that could further advance sustainable practices within global supply chains. This study contributes to the growing body of knowledge on the intersection of blockchain technology and sustainable development, offering insights for academics, practitioners, and policymakers.
Keywords:
Blockchain technology; Sustainable supply chains; Transparency; Traceability; Decentralization; Environmental sustainability; Ethical sourcing; Supply chain management; Future prospects
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Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0