Leveraging the Internet of Things and Blockchain Technology in Supply Chain Management

Modern supply chains have evolved into highly complex value networks and turned into a vital source of competitive advantage. However, it has become increasingly challenging to verify the source of raw materials and maintain visibility of products and merchandise while they are moving through the va...

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Bibliographic Details
Published in:	Future internet Vol. 11; no. 7; p. 161
Main Authors:	Rejeb, Abderahman, Keogh, John G., Treiblmaier, Horst
Format:	Journal Article
Language:	English
Published:	Basel MDPI AG 01.07.2019
Subjects:	Artificial intelligence Automation Blockchain Competitive advantage Cryptography Digitization Information flow Internet of Things Interoperability Literature reviews Logistics Networks Radio frequency Raw materials Research projects Sensors supply chain Supply chain management Supply chains Technology transparency Value chain Value engineering Visibility
ISSN:	1999-5903, 1999-5903
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Abstract	Modern supply chains have evolved into highly complex value networks and turned into a vital source of competitive advantage. However, it has become increasingly challenging to verify the source of raw materials and maintain visibility of products and merchandise while they are moving through the value chain network. The application of the Internet of Things (IoT) can help companies to observe, track, and monitor products, activities, and processes within their respective value chain networks. Other applications of IoT include product monitoring to optimize operations in warehousing‚ manufacturing, and transportation. In combination with IoT, Blockchain technology can enable a broad range of different application scenarios to enhance value chain transparency and to increase B2B trust. When combined, IoT and Blockchain technology have the potential to increase the effectiveness and efficiency of modern supply chains. The contribution of this paper is twofold. First, we illustrate how the deployment of Blockchain technology in combination with IoT infrastructure can streamline and benefit modern supply chains and enhance value chain networks. Second, we derive six research propositions outlining how Blockchain technology can impact key features of the IoT (i.e., scalability, security, immutability and auditing, information flows, traceability and interoperability, quality) and thus lay the foundation for future research projects.
AbstractList	Modern supply chains have evolved into highly complex value networks and turned into a vital source of competitive advantage. However, it has become increasingly challenging to verify the source of raw materials and maintain visibility of products and merchandise while they are moving through the value chain network. The application of the Internet of Things (IoT) can help companies to observe, track, and monitor products, activities, and processes within their respective value chain networks. Other applications of IoT include product monitoring to optimize operations in warehousing‚ manufacturing, and transportation. In combination with IoT, Blockchain technology can enable a broad range of different application scenarios to enhance value chain transparency and to increase B2B trust. When combined, IoT and Blockchain technology have the potential to increase the effectiveness and efficiency of modern supply chains. The contribution of this paper is twofold. First, we illustrate how the deployment of Blockchain technology in combination with IoT infrastructure can streamline and benefit modern supply chains and enhance value chain networks. Second, we derive six research propositions outlining how Blockchain technology can impact key features of the IoT (i.e., scalability, security, immutability and auditing, information flows, traceability and interoperability, quality) and thus lay the foundation for future research projects.
Author	Rejeb, Abderahman Treiblmaier, Horst Keogh, John G.
Author_xml	– sequence: 1 givenname: Abderahman surname: Rejeb fullname: Rejeb, Abderahman – sequence: 2 givenname: John G. surname: Keogh fullname: Keogh, John G. – sequence: 3 givenname: Horst orcidid: 0000-0002-0755-5223 surname: Treiblmaier fullname: Treiblmaier, Horst
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SubjectTerms	Artificial intelligence Automation Blockchain Competitive advantage Cryptography Digitization Information flow Internet of Things Interoperability Literature reviews Logistics Networks Radio frequency Raw materials Research projects Sensors supply chain Supply chain management Supply chains Technology transparency Value chain Value engineering Visibility
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