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Quality-Access to Success ; 24(193):343-350, 2023.
Article in English | Web of Science | ID: covidwho-2310923

ABSTRACT

At present, blockchain technology is becoming widespread in logistics, because it can enhance the efficiency of supply chains. This issue became particularly important because of Covid-19 pandemic which has led to serious disruption in goods supply around the world. This paper investigates the feasibility and aspects of blockchain technology implementation. On the basis of received information, a theoretical model was created. A secondary methodology is used in this research. Through this method, previous studies carried out in the same area are analyzed and evaluated to justify the implementation of blockchain within contemporary supply chain systems. It is assessed that a blockchain model can indeed be theoretically implemented with supply chains. However, its implementation can cause various unprecedented issues. In the case of timely resolution of issues, the application of such model can be successful. Proposed theoretical model is sustainable for long term solutions to minor issues that can occur. It can exponentially speed up the material transport and approval processes. It was determined that the model can increase supply chain efficiency by 30%. With such a rate of efficiency ready at the disposal of industrial organizations, they can avoid the potential pitfalls and challenges created by the pandemic's effects on operations and personnel.

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