SUP-2053 Supply Chain Technology

Assignment 1
 Marks Weightage – 20%
 Complete the assignment, print, and submit 1 copy in class per group. Font:
Calibri (Body); Size>=12 (APA style)
 Upload 1 copy on Moodle per group.
 Prepare a well-organized group presentation in class.
12th October 2021
DATE:
INSTRUCTOR: Mehmet Basti
CLASS: SCMT
GROUP: 3

STUDENT FIRST NAME STUDENT LAST NAME STUDENT NUMBER

(IN CAPITAL) (IN CAPITAL)
1 ANUKETAN - C0813132

2 JASDEEP KAUR C0823359

3 KARISHMA CHALKE C0822846

4 MANPREET KAUR C0817583

5 SARAVANA KUMAR PANNEERSELVAM C0819338

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 SUP-2053 Supply Chain Technology

1. Create hypothetical organization and use reasonable assumptions.

1. Hypothetical Organization:

Data from the supply chain isn't necessarily prominent, accessible, or reliable. Through

permissioned blockchain solutions, KC Blockchain assists supply chain parties in sharing reliable

data.

This is more important than ever in times of upheaval. Businesses and consumers expect

brands to ensure product authenticity, while supply chain partners want more transparency

and responsible sourcing to reduce disputes.

KC Blockchain can leverage data to tackle today's challenges and expand adaptability for the

future using blockchain for supply chain solutions.

Reasonable assumptions:

1. Expanded production network straightforwardness :

Production network organizations can be restricted by one-up/one-down apprehensibility.

Through conveyed record innovation that gives a common, single form of reality, KC Blockchain

production network arrangements give permissioned members more prominent

apprehensibility across all store network exercises.

2. Construct a tough store network :

One startling occasion can cause a falling exhibit of store network interruptions. KC Blockchain

inventory network arrangements utilize shrewd agreements that naturally trigger when pre-

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 SUP-2053 Supply Chain Technology

characterized business conditions are met. This gives close to ongoing intelligibility into tasks,

and the capacity to make a move prior ought to there be an exemption.

Fig 1.1 Supply chain management transformation with Blockchain Technology.

3. Assimilation of new provider :

The process of integrating new providers into the production network has always been a tough

and laborious task for both customers and merchants. KC Blockchain production network

arrangements can facilitate this connection by providing a permanent record of fresh seller

details that business network members can rely on.

2. Literature Review on Blockchain Technology

In recent years, every aspect of conducting business has demonstrated significant

growth by the application of technology. From scanning barcodes to simplify the billing

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 SUP-2053 Supply Chain Technology

processes to using RFID tags to identify batches easily, supply chains have come a long way

when innovation is talked about. Blockchain is nothing but a database, a kind of database that

is huge and whose information is stored on servers.

Transformation due to Blockchain

According to Justinia (n.d.), as the internet has changed the whole world by providing

greater access to information, blockchains will also change our ways of handling business. Even

if we do not trust our business partners, we can trust the blockchain, just since anything

recorded over it is highly unlikely to be fake and changed and there is a record attached with

each block of the chain that specifies the places or addresses the asset we are currently dealing

with has been in the past.

Will Blockchain Revolutionize Supply Chains?

An article by Marquit (2017) states that blockchain and supply chain goes hand in hand,

in other words, both are a perfect fit for each other. One of the biggest challenges supply chains

face is the lack of transparency. If we have a huge number of suppliers worldwide, it becomes

challenging to keep track of each and everything happening in the supply chain. Employing

blockchains can mitigate this problem to a huge extent as all the transactions are recorded in

the blockchain and can be tracked anytime using the software. This makes accessing the data in

real-time a total breeze. Overall, blockchain technology is a big yes when considering the up-

gradation of the supply chain as it offers a variety of benefits that can help organizations, in the

long run, a lot.

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 SUP-2053 Supply Chain Technology

3. Importance of Blockchain technology

According to 101 Blockchains (2020), the importance of blockchain technology is as

follows:

Better Freight Tracking

Many trucking businesses are attempting to invest in reliable tracking technology, but

the security of these devices is debatable. As blockchain offers an appropriate validation

channel with confirmation, nobody can alter the information. Additionally, as you can monitor

every one of your conveyances and track the conveyances progressively, it can truly guarantee

a superior purchaser experience for the coordination’s business.

Improved Shipping Process Efficiency

The first area where blockchain will help logistics is shipping and freight. In a nutshell, it

may be utilized to optimize both international and local delivery processes. It will also

encourage them to increase their goods capacity and process efficiency.

Better Transparency

One of the most key attributes of blockchain is its transparency. When properly

deployed, blockchain for the supply chain provides greater openness, which affects logistics

transparency. It allows businesses to have more faith in one another. There will be fewer

invoice disputes, less worker exploitation, and lower auditing expenses as a result of more

openness.

Inventory Tracking

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 SUP-2053 Supply Chain Technology

Companies may use blockchain technology to improve inventory tracking by allowing

them to manage their items at both the macro and micro levels. Companies, for example, may

keep a close eye on their logistics by monitoring them effectively.

IBM's blockchain-based technology is one such example.

Invoicing and Payments

Finally, through an efficient and secure system, blockchain can help enhance invoicing

and payments. Smart contracts can be used by businesses to automate the entire process and

make it error-free and transparent. Invoicing and payments will be much more efficient as a

result of this.

4. Benefits of blockchain technology

 Among the most fundamental achievements in the field of data, innovation is

blockchain innovation. Several pros of blockchain innovation include enhanced security, more

accessible exchanges, transparency, durability, visibility, and reliability. It replaces existing

creation in many corporations since it vastly improves measurements, making many

operational activities redundant. Blockchain networks provide:

 New experienced investment and protection.

 Measurement automation.

 Data and documents stream simplification.

Moreover, the authenticity of blockchain data fosters trust and long-term relationships

among partners. Additionally, error-free operations and automation aid in cost reduction

(Merkaai, 2020).

Challenges of blockchain technology :

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 SUP-2053 Supply Chain Technology

The primary problem for organizations is a lack of understanding of blockchain

technology. Companies lack enough awareness about blockchains. Another critical problem is

security and privacy; the company must secure data and information since it contains

confidential material. Although blockchain networks are much more reliable than traditional

software applications, cybercriminals may still corrupt the system and companies built on

blockchains. Furthermore, the efficiency and feasibility of blockchain companies can carry out

widespread transactions at a high total cost, which is especially remarkable for a few different

types of blockchain than others. A blockchain addresses a complete shift away from the

conventional methods of getting things done – in any event, for enterprises that have

effectively seen the critical change from advanced innovations. This power loss can be alarming

(Swanson, n.d.)

5. Real-world examples

1. Algorand is creating innovation that lessens the holes among customary and decentralized

money, carrying out cutting-edge items and conventions to make monetary exchanges fairer for

all. The organization's innovation is empowered by a bunch of Layer-1 blockchains to give

adaptability, security, exchange irrevocability, protection, co-chain, and keen agreement

capacities, with use cases going from protections and supply chains to protection, gaming,

advanced agreements, and then some.

2. BurstIQ's enormous information blockchain contracts help patients and specialists safely

move touchy clinical data. The shrewd agreements set up the boundaries of what information

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 SUP-2053 Supply Chain Technology

can be shared and even shows subtleties of customized wellbeing plans for every

understanding.

3. Mediachain utilizes shrewd agreements to get artists the cash they merit. By going into a

decentralized, straightforward agreement, craftsmen can consent to higher eminences and get

compensated in full and on schedule. Streaming goliath Spotify obtained Mediachain in April

2017.

4. Propy is a worldwide land commercial center with a decentralized title library framework.

The web-based commercial center uses blockchain to make title issuance prompt and even

offers properties that can be bought utilizing cryptographic money.

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 SUP-2053 Supply Chain Technology

5. Filament makes programming and computer chip equipment that allows associated gadgets

to work on blockchain. The Reno-based organization's items encode record information,

congoing data to other blockchain-associated machines and take into consideration the

adaptation of those machines dependent on timestamps. (Fig 1.2 Real World Blockchain Cases)

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References

101 Blockchains. (2020, February 20). Benefits of blockchain in the logistics industry.

https://101blockchains.com/blockchain-in-logistics/

Iansiti, M., Lakhani, K. R., (2019, August 21). The truth about blockchain: It will take years to

transform business, but the journey begins now. Harvard Business Review.

https://hbr.org/2017/01/the-truth-about-blockchain

Justinia, T. (n.d.). Blockchain technologies: Opportunities for solving real-world problems in

healthcare and biomedical sciences. National Center for Biotechnology Information, U.S.

National Library of Medicine, National Institute of Health.

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7004292/

Marquit, M., (2017, June 5). Will blockchain revolutionize supply chains? SupplyChain247.

https://www.supplychain247.com/article/will_blockchain_revolutionize_the_supply_ch

ain

Merkaa¡, Z. (2020, January 1). The Significance of Blockchain Technology in Digital

Transformation of Logistics and Transportation. I-Global.

https://www.igi-global.com/article/the-significance-of-blockchain-technology-in-digital-

transformation-of-logistics-and-transportation/240732

Swanson, T. (n.d.). Key challenges. Deloitte.

https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/Innovation/deloitte-

uk-blockchain-key-challenges.pdf

Vorabutra, J. (2016, October 3). Why blockchain is a game-changer for supply chain

management transparency.

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 SUP-2053 Supply Chain Technology

https://www.supplychain247.com/article/why_blockchain_is_a_game_changer_for_the

_supply_chain

Xu, M., Chen, X., Kou, G., (2019, July 4). A systematic review of blockchain. SpringerOpen.

https://jfin-swufe.springeropen.com/articles/10.1186/s40854-019-0147-z

Fig 1.2 : (https://www.datasciencecentral.com/profiles/blogs/50-examples-of-how-blockchains-

are-taking-over-the-world

Fig 1.1 : (https://www.disruptordaily.com/blockchain-use-cases-supply-chain-management)

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