Analysis of Supply Chain Management With Block Chain Technology

Abstract

Supply chain management (SCM) involves design of multiple processes which includes newlineprocurement of goods, manufacturing, warehousing, transportation, distribution and newlineselling to customer. Each of these steps requires design and development of secure newlineproduct tracking, privacy preservation, transparent transaction handling, trust newlinemodelling and distributed processing operations. These operational characteristics can newlinebe directly mapped with blockchains, because they provide transparency, traceability, newlineimmutability, and distributed mining operations. Thus, blockchains are quickly gaining newlinepopularity as one of the most favourable solutions for SCM modelling. In order to newlinemodel SCM, a wide variety of blockchain-based solutions are proposed by researchers newlineover the years, and each of these solutions vary in terms performance parameters. These newlineparameters include, response time, scalability, security level, delay to add a new block, newlinecost of deployment, and computational complexity. Due to such a wide variety of newlinealgorithmic availability, it becomes ambiguous for SCM designers to select the best newlineblockchain models for a given application. In order to reduce this ambiguity, a survey newlineof recently proposed blockchain models for SCM application are discussed in this text. newlineMost of these models are based on machine learning, and are characterised on the basis newlineof their nuances, advantages, limitations, and possible future research scopes. Upon newlinereferring this descriptive review, readers would be able to summarize characteristics for newlineeach SCM implementation, and identify the best suited models for their deployments. newlineThis text also compares the reviewed models in terms of statistical parameters like delay newlinexi newlineof block mining, searching time for SCM transaction, security level, computational newlinecomplexity, and probable use cases. It also proposes various sidechain models for newlinesecurity and QoS improvement under different conditions. These performance metrics newlineare compared across different models in order to estimate the best performing models newlinefor a giv