Blockchain and Supply Chain Management
- 2nd Edition - February 26, 2025
- Imprint: Elsevier
- Author: Nir Kshetri
- Language: English
- Paperback ISBN:9 7 8 - 0 - 4 4 3 - 3 0 1 5 5 - 1
- eBook ISBN:9 7 8 - 0 - 4 4 3 - 3 0 1 5 6 - 8
Blockchain and Supply Chain Management, Second Edition combines discussions of blockchain and supply chains, linking technologies such as artificial intelligence, Internet of Thi… Read more
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Request a sales quoteBlockchain and Supply Chain Management, Second Edition combines discussions of blockchain and supply chains, linking technologies such as artificial intelligence, Internet of Things, satellite imagery, and machine vision. The book examines blockchain’s basic concepts, relevant theories, and its roles in meeting key supply chain objectives. The book addresses problems related to inefficiency, opacity, and fraud, helping the digitization process, simplifying the value creation process, and facilitating collaboration. The book is balanced between blockchain and supply chain application and theory, covering the latest technological, organizational and regulatory developments in blockchain from a supply chain perspective.
The book discusses the opportunities, barriers, and enablers of blockchain in supply chain policy, along with legal and ethical implications. The second edition has been thoroughly updated with a new chapter on the luxury good industry supply chains, as well as updated data and statistics; new examples, case studies, and In-Focus boxes; and added regularly updates throughout the book.
As supply chain management faces massive disruption with the dynamic changes in global trade, the impact of Covid-19, and technological innovation, scholars, students, and researchers, as well as practitioners such as analysts, consultants, executives, engineers, and managers, will find this a valuable resource for addressing problems related to inefficiency, opacity, and fraud, helping the digitization process, simplifying the value creation process, and facilitating collaboration.
The book discusses the opportunities, barriers, and enablers of blockchain in supply chain policy, along with legal and ethical implications. The second edition has been thoroughly updated with a new chapter on the luxury good industry supply chains, as well as updated data and statistics; new examples, case studies, and In-Focus boxes; and added regularly updates throughout the book.
As supply chain management faces massive disruption with the dynamic changes in global trade, the impact of Covid-19, and technological innovation, scholars, students, and researchers, as well as practitioners such as analysts, consultants, executives, engineers, and managers, will find this a valuable resource for addressing problems related to inefficiency, opacity, and fraud, helping the digitization process, simplifying the value creation process, and facilitating collaboration.
- New to this edition: a new chapter on the luxury good industry supply chains, as well as updated data and statistics; new examples, case studies, and In-Focus boxes; and added regularly updates throughout the book
- Provides theoretical and practical insights into both blockchain and supply chains
- Examines blockchain's impacts on supply chains in four key industries: Food and beverage, healthcare, pharmaceuticals, finance and luxury goods
- Utilizes illustrative case studies, In-Focus boxes, tables, and figures
Scholars, graduate and post-graduate students, and researchers
- Title of Book
- Cover image
- Title page
- Table of Contents
- Copyright
- Chapter 1. Blockchain in supply chain management: Recent developments and key issues
- 1.1 Introduction
- 1.2 Blockchain as a promising tool for SCM
- 1.2.1 Blockchain's growth
- 1.2.2 Blockchain in supply chains
- 1.2.3 Diverse value proposition across industries
- 1.3 Definitions and explanations of the key terms
- 1.3.1 Blockchain and distributed ledger technology
- 1.3.2 Consensus mechanism
- 1.3.2.1 Proof of work
- 1.3.2.2 Proof of stake
- 1.3.2.3 Proof of authority
- 1.3.3 Characteristics of blockchain
- 1.3.3.1 Decentralization
- 1.3.3.2 Immutability and append-only database
- 1.3.3.3 Cryptography-based authentication
- 1.3.4 Types of blockchain
- 1.3.4.1 Public blockchain
- 1.3.4.2 Private blockchains
- 1.3.4.3 Hybrid blockchains
- The Minespider protocol
- Epitome of China's global ambition
- How VeChain works
- Proof of authority consensus
- Expanding to international markets
- 1.3.5 Smart contract
- 1.3.5.1 Advantages of blockchain-based smart contracts
- 1.3.5.2 The roles of oracles in smart contracts
- 1.3.6 Token and tokenization
- 1.3.6.1 Fungible token
- 1.3.6.2 Nonfungible token
- 1.3.6.3 Security tokens
- 1.3.6.4 Tokenization and tradability
- 1.3.7 Traceability
- 1.3.8 Mainnet and testnet
- 1.3.9 Interoperability in blockchain networks
- 1.3.10 Layer 1 and layer 2 blockchains
- 1.4 Conclusion
- 1.5 The roadmap of this book
- Chapter 2. Blockchain’s roles in meeting key supply chain objectives
- 2.1 Introduction
- 2.2 Supply chain objectives
- 2.3 The roles of blockchain in achieving various strategic supply chain objectives
- GreenToken by SAP
- Partnership with trustea Sustainable Tea Foundation
- A focus on the pharmaceutical industry
- Collaboration with BMW
- Blockchain-based invoicing system
- 2.3.1 Reducing costs
- 2.3.2 Assuring quality of products
- 2.3.3 Increasing speed
- 2.3.4 Increasing dependability
- 2.3.5 Reducing risks
- 2.3.6 Facilitating sustainable practices
- 2.3.7 Enhancing flexibility
- 2.4 Unlocking value: blockchain’s unique advantages in supply chain
- 2.5 Conclusion
- Chapter 3. Amplifying the value of blockchain in supply chains: Combining with other technologies
- 3.1 Introduction
- 3.2 Artificial intelligence and machine learning
- 3.2.1 Generative artificial intelligence
- Morpheus.Network's solutions
- Some major clients
- Entry into the European Blockchain Sandbox
- 3.3 Remote sensing and satellite imagery
- 3.3.1 Global positioning system
- 3.3.2 Combining satellite images, blockchain, and AI
- 3.3.2.1 Oracle's partnership with the World Bee Project
- 3.3.2.2 Bext360
- 3.4 Internet of things
- 3.5 Analytical fingerprinting
- 3.5.1 Current challenges
- 3.6 Digital twin
- 3.7 Computer vision and machine vision
- 3.8 Optical scanning technologies such as quick response codes
- 3.9 Near-field communication
- 3.10 Unlocking supply chain potential: Integrating blockchain with advanced technologies
- 3.11 Conclusion
- Chapter 4. Food and beverage industry supply chains
- 4.1 The current challenges in food and beverage supply chains
- 4.2 Blockchain's potential to address various challenges in the food and beverage industry
- 4.2.1 Tracking and tracing FBSC
- 4.3 IBM's blockchain-based Food Trust: The widely used platform for food SCs
- 4.4 Cases of blockchain deployment in domestic FBSCs
- 4.4.1 JD.com tracking products from Kerchin in China
- 4.4.2 Alibaba tracking rice supply chain to stop counterfeit versions of the Wuchang rice
- 4.4.3 Walmart tracking food products in its Chinese stores
- 4.4.4 BanQu systems in India, Uganda, and Zambia to track cassava and barley
- 4.5 Cases of blockchain deployment in cross-border FBSCs
- 4.5.1 Walmart monitoring produce imported to the United States from Latin America
- 4.5.2 Bext360 tracking coffee exported from Uganda and Ethiopia to the United States and the Netherlands
- 4.5.3 Alibaba tracking food products imported to China from New Zealand and Australia
- 4.5.4 Nestle's pilot project to track milk from New Zealand to the Middle East
- Deployment in the Pacific Islands tuna industry
- Scaling up the use rapidly
- 4.6 Benefits and opportunities
- 4.6.1 Strengthening food safety programs
- 4.6.2 Enhancing corporate reputation
- 4.6.3 Distributive fairness and transparency
- 4.6.4 Enhancing efficiency
- 4.6.5 Supply chain transparency
- 4.7 Barriers
- 4.7.1 Challenges in onboarding vendors and suppliers
- 4.7.2 Lack of skill and absorptive capacity in developing countries
- 4.7.3 Infrastructure, market, and technical challenges
- 4.7.4 Small businesses in food SCs often lack capabilities and resources to implement blockchain
- 4.7.5 Not practical to use the solution for low-value food products
- 4.8 Chapter summary and conclusion
- Chapter 5. Healthcare and pharmaceutical industry supply chains
- 5.1 Introduction
- 5.2 Fighting counterfeit and substandard products in a drug supply chain
- 5.3 Optimizing operational efficiency and reducing costs
- 5.4 Promoting transparency
- 5.5 Complying with regulatory requirements
- 5.6 Some representative cases
- 5.6.1 Kadena and rymedi team up to track drug supply chains
- 5.6.2 Chronicled's MediLedger
- 5.6.2.1 Contracts and Chargebacks solution
- 5.6.3 Swiss Post's blockchain-based solutions for the pharmaceutical and medical industry
- 5.7 Overcoming resistance: blockchain adoption challenges in healthcare and pharmaceuticals
- 5.8 Conclusion
- Chapter 6. The luxury goods industry supply chains
- 6.1 Introduction
- 6.2 The current stage of blockchain deployment in the luxury goods markets
- 6.2.1 The luxury car market
- 6.2.2 The personal luxury goods segment
- 6.3 Some key features of blockchain implementation in luxury markets
- 6.3.1 Deployment of digital product passports
- 6.3.2 Utilization of NFTs
- Private and public blockchains
- Digital Product Passport
- Digital Collectibles
- Digital currency solutions
- 6.3.3 Incorporation of NFCs and QR codes
- 6.3.4 Integration of AI
- 6.3.5 Use of storytelling
- 6.4 Implementing blockchain to gain legitimacy and increase value creation and capture
- 6.4.1 Gaining institutional legitimacy
- 6.4.2 Complying with regulatory requirements
- 6.4.3 Gaining legitimacy as a sustainable business
- 6.4.4 Increasing value creation and capture
- 6.4.5 Creating hedonistic value for consumers
- 6.4.6 Enhancing customer engagement through storytelling
- 6.4.7 Increasing value capture through premium pricing and product-related services focused on authenticity assurance, along with income from secondary, tertiary, and higher-order markets
- 6.5 Barriers hindering the use of blockchain in the luxury goods market
- 6.6 Conclusion
- Chapter 7. Supply chain finance and trade finance
- 7.1 Introduction
- 7.2 Supply chain finance and trade finance
- 7.2.1 Current challenges facing the SCF and TF markets
- 7.3 Blockchain's potential to address key challenges facing supply chain and trade finance
- 7.3.1 Access to high-quality and relevant data
- 7.3.2 Fighting fraudulent practices
- 7.3.3 Meeting regulatory standards
- 7.4 Some representative cases of blockchain solutions to address the supply chain and trade finance gaps
- 7.4.1 Easy trading connect/komgo
- 7.4.2 Chained finance
- 7.4.3 eTradeConnect
- 7.4.4 DLTledgers
- 7.4.5 Bay area trade finance blockchain platform
- 7.5 Lessons from some unsuccessful ventures
- 7.5.1 We.trade
- 7.5.2 Contour
- 7.6 Standardization initiatives in trade finance
- 7.7 Revolutionizing supply chain and trade finance with blockchain
- 7.8 Conclusion
- Chapter 8. Opportunities, barriers, and enablers of blockchain in supply chains
- 8.1 Introduction
- 8.2 Key enablers
- 8.2.1 Availability of quick and easy options to use blockchain
- 8.2.2 Affordability and ease of use of blockchain compared with alternative solutions
- 8.2.3 Efforts of civil society actors, development and multilateral organizations, and other powerful actors
- 8.2.4 Increasing collaboration and coordination among key supply chain participants to develop blockchain solutions
- 8.3 Major opportunities
- 8.3.1 Means to improve the welfare of marginalized groups
- 8.3.2 Enhancing efficiency and responsiveness of SCs
- 8.3.3 Powerful marketing, branding, public relations, and communications tool
- 8.3.4 Consumer empowerment, confidence, and satisfaction with services
- 8.4 Salient barriers
- 8.4.1 The lack of institutional capacities
- 8.4.2 Low degree of digitization
- 8.4.3 Lack of technological expertise and absorptive capacity
- 8.4.4 The rank effect and barriers faced by small companies
- 8.4.5 Regulatory incompatibility and the lack of standardization
- 8.4.6 Bringing all the relevant parties together
- 8.4.7 Stockholder centric bias in the actions of blockchain start-ups
- 8.4.8 Blockchain's bad reputation
- 8.5 Limitations of the technology
- 8.6 Conclusion
- Chapter 9. Policy, legal, and ethical implications
- 9.1 Introduction
- 9.2 Regulatory and law enforcement issues
- 9.3 Legislative developments increasing the attractiveness of blockchain
- 9.4 International heterogeneity in regulatory regimes
- Step 1: Onboarding and request of verifiable Legal identity and Catena-x membership credential
- Step 2: Exchange and verification of the PCF Credential
- Step 3: Exchange and verification of the responsible mining certification
- Step 4: Creating the Digital Battery Passport
- 9.5 Existing laws and implementation of blockchain
- 9.5.1 The EU's General Data Protection Regulation and blockchain
- 9.6 New laws related to blockchain and cryptocurrencies
- 9.6.1 China's “Regulations on the Management of Blockchain Information Services”
- 9.7 ESG issues and blockchain implementation in supply chains
- 9.7.1 Blockchain to fight modern slavery
- 9.7.1.1 The current situation
- 9.7.1.2 The current situation
- 9.7.2 Blockchain solutions to address the situation
- 9.8 Companies' response to ESG pressures
- 9.8.1 Mineral and mining industries
- 9.8.1.1 The Responsible Sourcing Blockchain Network
- 9.8.1.2 Circulor's blockchain across CATL's supply chain
- 9.8.2 Proactive steps to ensure SCs' readiness to comply with new regulations
- 9.8.3 Regulatory compliance as a selling point
- 9.9 Conclusion
- Chapter 10. Discussion, conclusion, and recommendations
- 10.1 Introduction
- 10.2 Blockchain's attractiveness in big industries to solve significant problems
- 10.3 The future of blockchain in supply chains
- 10.4 Different levels of difficulties in ensuring tamperproof tracking
- 10.5 Implications for policymakers
- 10.6 Implications for companies
- 10.7 Future research implications
- 10.8 Final thought
- Index
- Edition: 2
- Published: February 26, 2025
- Imprint: Elsevier
- No. of pages: 318
- Language: English
- Paperback ISBN: 9780443301551
- eBook ISBN: 9780443301568
NK
Nir Kshetri
Nir Kshetri is Professor of Management at University of North Carolina-Greensboro. He is the author of 9 books covering such topics as big data, cloud computing, and cybersecurity, plus author of more than 150 journal articles. He has won several awards for his work, including IEEE IT Professional’s Most Popular Paper Award in 2019 and 2018, Outstanding Contribution in Authorships award in 2019, and the Blockchain Connect Conference’s Most Influential Blockchain Research Paper in 2019. His editorial roles include Computing Economics editor of Computer, IT Economics editor of IT Professional and Associate Editor of Electronic Commerce Research. Nir and his work have been featured in the Wall Street Journal, Foreign Policy, Scientific American, Fortune, Time, Christian Science Monitor, Bloomberg TV, and CBS News.
Affiliations and expertise
Professor of Management, University of North Carolina-Greensboro, Greensboro, North Carolina, USARead Blockchain and Supply Chain Management on ScienceDirect