Smart Supply Chains: Leveraging Blockchain for Electronic Sector

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Smart Supply Chains: Leveraging Blockchain for Electronic Sector

Mrs. G. Beulah Rani, Assistant Professor, K.Uday Kiran, B.Tech Student,

G. Hanuman, B.Tech Student,

K. Jogendra, B.Tech Student,

D. Siva Sai Kotesh, B.Tech Student, Department of Computer Science And Engineering

KKR & KSR INSTITUTE OF TECHNOLOGY AND SCIENCES

Abstract

The integration of blockchain technology into supply chain management (SCM) offers incremental yet significant advancements by addressing longstanding waste and inefficiencies. 1 Blockchain provides a decentralized, immutable ledger that fosters trust and transparency among partners, ensuring all valuable information is recorded permanently. 2 Intelligent contracts automate processes like payments and inventory management, minimizing regulatory costs and human error. 3 Furthermore, blockchain's robust security measures, including encryption, safeguard data against sophisticated cyber threats, reducing the risk of extortion and tampering. 4 This enhanced security also simplifies administrative compliance by providing an accessible and verifiable record of all exchanges. Additionally, blockchain enables the verification of material sources and adherence to technical support standards, thereby bolstering brand identity and enhancing customer trust. 5

Keywords
BlockchainInnovation,SupplyChainAdministration(SCM),ProgressiveProgressions,Real-Time Tracking,IOTandAIIntegration

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