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. 2020 Sep 29;142:102067. doi: 10.1016/j.tre.2020.102067

Table 1.

Benefits of using blockchain in supply chains.

Benefits of blockchain in SCs Details
Data management
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    Enables calibration of data located across diverse SCs.

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    Improves security of data stored.

  • -

    Real time capturing of all information is done
Improves transparency
  • -

    Helps track status of an item during a process

  • -

    Automates data analysis activities

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    End to end transparency based on permission level via hierarchy
Improves response time
  • -

    Creates a dynamic and real time SC with better utilization of its resources
Smart contract management
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    Customized and individual contracts can be defined for each function and can be coordinated with each other

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    Helps in process design for business operations

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    Improves visibility and eliminates the need of intermediary
Operational efficiency
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    Improves end to end speed of SC process

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    Identifies bugs and issues in the beginning to make the process robust
Disintermediation
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    Leads to an uninterrupted chain of transactions

  • -

    Increases speed

  • -

    Increases trust among stakeholders of process
Immutability
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    Consensus mechanism for all modifications

  • -

    Ensures security of all transactions
Intellectual property Management
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    Intellectual Property protection and registration