Blockchain and IoT Integration for Secure Supply Chain Operations: Unlocking Real-Time Transparency and Business Continuity

Research Paper

Today we will explore the powerful synergy between blockchain and IoT for secure supply chain operations. Discover how this integration is driving real-time transparency, reducing vulnerabilities, and shaping the future of business continuity.

Authors

Junaid Baig Mirza
MD Anwarul Matin Jony
MD Sheam Arafat
Rashedul Islam

S M Shahariar Rafi
Muhammad Saqib Jalil
Foysal Hossen

Short DOI: https://doi.org/g8rt8p
Link: https://www.aijmr.com/research-paper.php?id=1112

Cite This: Blockchain and IoT Integration for Secure Supply Chain Operations: Unlocking Real-Time Transparency and Business Continuity – MD SHEAM ARAFAT, Junaid Baig Mirza, MD Anwarul Matin Jony, RASHEDUL ISLAM, S M Shahariar Rafi, Muhammad Saqib Jalil, Foysal Hossen – AIJMR Volume 2, Issue 6, November-December 2024. DOI 10.62127/aijmr.2024.v02i06.1112

Global supply chains are becoming increasingly complex, with a 5% annual growth rate. These complex networks face numerous vulnerabilities, including disruptions, data breaches, and counterfeiting.

Data Sources

This research draws upon surveys, case studies from various industries like pharmaceuticals, food, and logistics. Quantitative analysis of KPIs focuses on traceability, counterfeiting reduction, and data integrity. Expert interviews provide qualitative insights.

Analysis Techniques

Statistical methods are applied for quantitative impact assessment. Thematic content analysis is used for qualitative data. Ethical compliance is maintained through the use of publicly available and ethically sourced data.

Blockchain technology offers a decentralized, immutable ledger for secure data recording. IoT provides real-time data tracking and monitoring capabilities, enabling greater transparency and control.

Key Findings & Insights

Real-Time Monitoring

Blockchain and IoT reduce counterfeiting by 30%-40% and enhance traceability by 25% in industries like food and pharmaceuticals.

Business Continuity

Decentralized records ensure operational resilience during disruptions. Smart contracts automate processes like payments and inventory updates, ensuring smooth operations.

Challenges

High costs, energy consumption, interoperability issues, and regulatory conflicts remain challenges for widespread adoption. GDPR compliance adds an extra layer of complexity.

Recommendations & Future Directions

Focus on High-Risk Areas

Prioritize high-risk industries like pharmaceuticals and food safety to maximize the impact of Blockchain-IoT solutions.

Collaborate for Interoperability

Collaborate with technology providers and regulators to ensure interoperability and compliance with evolving regulations.

Invest in Training

Invest in training programs to develop Blockchain-IoT expertise within organizations, fostering a skilled workforce.

Blockchain and loT Integration for Secure Supply Chain Operations: Unlocking Real-Time Transparency and Business Continuity