Blockchain Technology and Its Impact in Advancing Supply Chain Analytics

Blockchain technology has made global supply chains more perfect and efficient by delivering products and services directly to customers without third parties. The main purpose of this research paper is to examine the perspective of blockchain technologies for supply chain analytics. Blockchain technology (BT) is supporting logistics and financial services more flexibly and easily. It also helps companies understand their supply chain and attracts consumers with immutable, verifiable, and real data. The security system of any specific supply chain company also has become high with the collaboration of blockchain technology. Accompanied by the adoption of modern and advanced blockchain technology, instant traceability, and greater transparency have become possible to implement in the supply chain management (SCM) process. In maintaining the relationship between stakeholders and customers, blockchain technology is a useful medium. In order to collect the relevant data and resources regarding this research topic, “primary quantitative data” has been identified as beneficial. Along with this, SPSS software has been used to interpret the data in a perfect and systematic way. Moreover, this study will help the readers to understand the real effectiveness of blockchain technology and its role in influencing and advancing supply chain analytics.