Blockchain Sustainable Supply Chain Management Assignment

Assignment Task

Background of the Research

However, sustainability in the supply chain is one of the key measures that reduce the limitations in business and secure the business as well as the growth of the society (Khan et al. 2021). In the present context, sustainability in the supply chain demands the implementation of technology inclusion so that it can be appropriate to deal with the complexity arising in the present era in supply chain practices. The implementation of the Supply chain has bene found to be directly and indirectly integrated with Logistics and Warehousing that has been one of the major areas of business activities. Therefore, this has bene the major areas that has been analysed in this research.

Research Aim

The research will aim to identify the significant role of blockchain technology in the practices of supply chain management that help to achieve sustainability.

Research Objectives

• To identify the role of blockchain technology in supply chain management
• To analyse the sustainable factor implemented using blockchain in Logistics
• To evaluate the interrelationship between the implement blockchain technology and sustainable practices in the supply chain
• To analyse the overall impacts of Sustainable Supply Chain using Blockchain and their impacts on Warehousing

Research Questions

• What are sustainable supply chain practices?
• What is the role of blockchain in implementing sustainability in supply chain management in the field of business logistics?
• How is blockchain employed in supply chain practices?
• What are the overall impacts of Sustainable Supply Chain using Blockchain and their impacts on Warehousing?

Significance of the Research

The research topic is significant as it approaches a current issue and rectifies the necessity of sustainability in supply chain management in warehouse and logistics. Similarly, the research subject also sheds light on the inclusion of digital technology like blockchain that moves supply chain practices to the next level so that it can lead over all the complexity regarding supply chain management (Saurabh & Dey, 2021). Businesses are usually concerned with two major areas of operations that include logistics and warehousing that directly affects the overall nature of business operations of a company. Therefore, different technologies have been implemented that revolves around improving the aspects of Logistics and Warehousing thorough implanting the sustainable supply chain management using Blockchain technology in their operations.

Research problem

The research subject will focus on a major issue of sustainability in the supply chain. At the present, the business trend leans toward sustainable issues in supply chain that directly relate to lower efficiency in logistics and warehousing. Before, brands depend on the individual performance of suppliers to consider the sustainable factor associated with the supply chain management. They depend on auditing and paper records. However, it takes a lot of time and at the same time; paper falsification has become another problem. In this context, blockchain technology has appeared as an innovative solution that provides scope to brands to track the entire process of supply.

Rationale of the Research

The research topic that discloses the significant role of blockchain in implementing sustainable practices in supply chain management is rational as it analyses current issues. The sustainability issue in the supply chain is important in the present context as the supply chain is involved with transportation and it is directly involved with environmental and social welfare. To access sustainable business profitability, the supply chain needs to implement such innovative solutions so that they can be time-efficient and cost-effective (Paliwal, Chandra & Sharma, 2020). In this context, blockchain appears as the technology that may be evident to improve the overall areas of logistics and warehousing. It is important for the businesses to ensure that the overall aspects of logistics and warehousing are coordinated in such a way that the supply chain sustainability for the business in the given market is maintained. Therefore, Blockchain has been one of the most important advanced technologies that have developed in recent times which may solve the overall process of issues associated with logistics and warehousing. Therefore, this research analyses the use of Blockchain technology and their impact on the overall processes of logistics and warehousing.

Concept of Sustainable Supply Chain

A sustainable supply chain has become a necessity in the present context of global business and detects the competitive advantage for the business. However, a sustainable supply chain refers to the supply chain practices of organizations that consider the environment and human-affected facts in their supply chain practices. In this case, the business focuses on the environmental and societal issues throughout its supply journey such as sourcing raw materials to end products, delivery storage and transportation, and many more of its practices (Jia, Zhang & Chen, 2020). The purpose of the sustainable supply chain is to reduce the environmentally harmful effects due to transportation and relevant factors associated with the supply chain such as consumption of water, energy usage, and waste production.

At the same time, the sustainable supply chain is not beyond the concept of the conventional supply chain that aims to determine a maximum profit for the organization but not to harm the environment or humans much. Conventional chain of supply shed light on cost, speed, and reliability of operational activities of supply. However, upholding social and environmental values is the main motto of sustainable supply that can reduce global issues such as deforestation, climate change, and deforestation. At the same time, the ethnicity of business such as human rights, reduction of corruption, and fair payment of labour is also included in sustainable supply chain practices. The present brand is taking the entire responsibility for its supplier's environmental and social actions. The implementation of blockchain has become the major source that is used by the brands to approach sustainability in their supply chain management (Yıldızbaşı, Öztürk, Efendioğlu & Bulkan, 2021). Blockchain technology enhances transparency in supply chain management and that helps to enhance a sustainable supply chain. It is including the social and environmental issues such as the authenticity of materials, complexity of deliverance, accessing the issue of child labour, and harmful products of the environment so that elements of sustainability in the supply chain can be established. promising features implement through the technology of the Blockchain

Supply chain management theory

Agile manufacturing theory

The assessment of the theory asserts that supply chain management should be direct in such a way that it can implement the output of the firm. It includes many assertions such as the time factor should be enhanced by the supply chain so that it can help to lead the competitive trail in the market. At the same time, the quick response should also be implemented in supply chain practices in dealing with the entire process of manufacturing so supply can be aligned with the demand of the market. Similarly, the entire program of supply chain activities should be designed such that it can be able to mitigate the customer preferences in all aspects (Khalfallah & Lakhal,2021). At the same time, the design of supply chain programs can implement good public relations with customers and aid transparency in all oversupply. In this context, the theory also includes the requirements of chain management that consider the entire relevant method in its supply chain practices so that it can help organizations maintain the flow of supply and add transparency and loyalty between organizations and suppliers.

The Role of Blockchain in Sustainable Supply Chain Practices

In the present context of business technology like blockchain is used significantly to implement a sustainable supply chain for the organization and increases the transparency level of the business, in this context, blockchain can provide realistic and relevant information about the entire journey of the product to customers. For example, if a person goes to a pharmacist and asks the assurance for authentic information about the journey of manufacturing to end supply of the medicine, blockchain technology can provide customers with all the information regarding the manufacturing of the medicine (Khan et al. 2021). In this context, a microchip needs to be tagged in a drag package and customers can scan it with the use of a mobile and can trace the entire journey like material, transportation, location of manufacturing retailers, and storage of the product with the help of IoT with the use of blockchain technology. At the same time, blockchain has the potential to decentralize the immutable record of the entire transactions and reduce the use of paper. Thus, it protects the environment too as the paper is made of wood. With the usage of blockchain information, the traceability of materials is increasing, and it helps to counter the effectiveness of the grey market.

Importance of sustainable practices of Logistics and Warehousing

It is evident that sustainability in practices is important for the overall profitability and operations of a business in the long run. Logistics provide the ability for a business to ensure that the overall transportation system is sustainably maintained. It also ensures that the overall system is oriented in such a way that a strict level of communication and data efficiency is maintained in the context of logistics associated with business (Khanfar, Iranmanesh, Ghobakhloo, Senali & Fathi, 2021). Therefore, a sustainable mode of practice implemented in logistics may provide the ability for the business to ensure that the communication between the company and market delivery or supply is coordinated. Furthermore, because of the improved level of communication, the demand and supply associated with the market may easily be retained and managed by the company in terms of their production and availability of their products or services.

Furthermore, in the context of warehousing, it is evident that the storing of the products or services after their production and before their entry into the market is managed through superior levels of warehousing strategies. It is therefore important for the company to make sure that sustainability in the overall process of warehousing is implemented. This provides the ability to improve the communication between logistics and warehousing. As a result of the improved communication, the warehouse may be able to directly convey the information to the production unit to regulate the overall production of a particular product or service based on the availability in the market (Son-Turan, 2022). Simultaneously, this communication may also provide the ability to the logistics department to make sure that efficiency in transportation is maintained, so that there is a significant sustainability and balance between the demand and supply of the product or service in the market.

Advantages of Blockchain in implementing sustainability in supply chain

Prevent illegal practices in business

Blockchain allows tracing everywhere from raw material to the final assembly of the product. At the same time, it also allows to reach customer behaviour and customer returns and it enhances multiple ways to implement sustainability in supply chain management (Hastig & Sodhi, 2020). However, Blockchain enhances greater transparency and has become the prior tool to trace all the supply activities like corruption and shady actions for both the organizers and the suppliers. Therefore, it plays a major role in preventing illegal behaviour in business practices (Daniela, Pratiwib & Laksmonoc, 2020).

Increase sustainability performance

Providing traceability is one of the significant features of Blockchain technology and using this in supply chain management means each person relevant to supply chain management can trace the operation of each other. it includes all the resource information about the responsibility towards production, source of material and the information about process and distribution of products (Verdecho, Alarcón-Valero, Pérez-Perales, Alfaro-Saiz & Rodríguez-Rodríguez, 2021). 

Determine operational efficiency

The fulfilment rates can be improved by reducing the excess inventory and that can be possible using blockchain. partners of the supply chain can redistribute materials and products to the most needed areas by leveraging the data stored in the blockchain. Thus, the efficiency of a sustainable supply chain can be established (Govindasamy, Antonidoss & Pandiaraj, 2022). At the same time, it implements the overall supply chain and satisfies shareholders by providing the right information about the authenticity of the product by allowing them to trace the entire supply process.

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