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Securing logistics system and supply chain using Blockchain
Author(s) -
Kumar Ajay,
Abhishek Kumar,
Rukunuddin Ghalib Muhammad,
Nerurkar Pranav,
Bhirud Sunil,
Alnumay Waleed,
Ananda Kumar S.,
Chatterjee Pushpita,
Ghosh Uttam
Publication year - 2020
Publication title -
applied stochastic models in business and industry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.413
H-Index - 40
eISSN - 1526-4025
pISSN - 1524-1904
DOI - 10.1002/asmb.2592
Subject(s) - traceability , supply chain , blockchain , panacea (medicine) , risk analysis (engineering) , computer science , process management , business , supply chain management , interoperability , computer security , marketing , medicine , alternative medicine , software engineering , pathology , operating system
Past international trade practices have been associated with opaque information flows that have hindered traceability and created hurdles in hassle‐free trade. Blockchain and allied technologies have been investigated as a panacea for the problems faced by supply chain and logistics industry. Network analysis also uncovered twenty types of legal and antisocial entities operating on bitcoin and provided a path for uncovering these antisocial entities. However, earlier works of literature have focused on limited aspects of a typical supply chain such as monitoring assets, securing traceability, data integrity negligence, and data access. To overcome such drawbacks, this article proposes permissioned Blockchain with relevant processes and functions to obtain a holistic framework for securing the supply chain and logistic operations. The efficacy of the proposed framework was demonstrated in the case study. Comparative study was performed with the existing frameworks where the proposed framework was found to be better at four counts compared on the basis of data integrity in supply chain, decentralized decision making and traceability. It was found that critical loopholes in a current supply chain can be overcome using the proposed framework.