Integrating Blockchain and IoT: A Revolutionary Model for Automated and Transparent Supply Chain Management

Abstract

The efficiency, transparency, and security of supply chain operations are of the utmost importance in today's ever-changing digital landscape. In this article, we explore a novel framework that combines two of today's most revolutionary technologies: blockchain and the Internet of Things (IoT). We show how Internet of Things (IoT) sensors may create real-time data on product transportation, storage conditions, and handling when interconnected across the supply chain. Incorporating this information into a distributed and unchangeable ledger like the blockchain helps solve problems like product forgery, tampering, and recall inefficiency. In addition, smart contracts made possible by the blockchain can automate many procedures along the supply chain, doing away with the need for middlemen while simultaneously speeding up transactions. We highlight the measurable benefits of this integration, such as lower operational costs, increased trust among stakeholders, and quicker reaction times to disturbances, by evaluating case studies and pilot projects. Our approach provides a solid framework for a next-generation supply chain that is both resilient and accountable, which is especially relevant as businesses throughout the world move toward more automated and transparent systems.