Blockchain Technology in Supply Chain Management for Society 5.0

Society 5.0 utilizes blockchain technologies in decision modeling for supply chain management, addressing issues such as transparency, sustainability, and resilience. It explores the impacts and responses of implementing Society 5.0 in supply chain and introduces new studies and tools to integrate digital technologies with the human aspect.

Format: Hardback
Length: 171 pages
Publication date: 22 December 2022
Publisher: Taylor & Francis Ltd

Here is the rephrased text:
Blockchain technologies play a pivotal role in shaping Society 5.0, a vision of a connected and digitally transformed society. In this context, this paper aims to explore the applications of blockchain technologies in decision modeling for supply chain management. Specifically, it will address the challenges and issues faced by supply chain management in Society 5.0 and discuss the potential impacts and responses of implementing Society 5.0 in the supply chain. Furthermore, the paper will delve into new studies and tools that aim to integrate digital technologies with the human aspect of supply chain management.

Blockchain technologies offer numerous benefits in supply chain management, particularly in Society 5.0. One of the key applications is in improving transparency and traceability. Blockchain can create a secure and decentralized ledger that tracks the movement of goods from production to distribution, providing real-time visibility into the supply chain. This transparency can help reduce fraud, waste, and inefficiencies, while also improving customer satisfaction and trust.

Another application of blockchain in supply chain management is in smart contracts. Smart contracts are self-executing contracts that automate the execution of agreements between parties without the need for intermediaries. They can be used to automate supply chain processes, such as payment, logistics, and quality control, reducing the risk of errors and delays.

In addition, blockchain can enhance supply chain sustainability by promoting eco-friendly practices. For example, blockchain-based platforms can track the environmental impact of supply chain activities, such as carbon emissions and waste generation, and help companies identify and address sustainability issues.

However, implementing Society 5.0 in the supply chain also presents several challenges. One of the main challenges is the need for collaboration and integration among different stakeholders, including manufacturers, suppliers, distributors, and consumers. Blockchain technologies can facilitate collaboration by creating a shared platform that allows all parties to share information and communicate effectively.

Another challenge is the security and privacy of data. With the increasing amount of data generated in the supply chain, there is a risk of data breaches and unauthorized access. Blockchain technologies can address this challenge by providing secure and decentralized storage of data, while also ensuring that only authorized parties can access it.

Furthermore, implementing Society 5.0 in the supply chain requires a significant investment in technology and infrastructure. Companies need to invest in advanced technologies such as artificial intelligence, machine learning, and the Internet of Things (IoT) to enable real-time tracking and analysis of supply chain data.

In response to these challenges, there are ongoing studies and tools that aim to integrate digital technologies with the human aspect of supply chain management. One such tool is blockchain-based supply chain management platforms that provide real-time visibility into the supply chain, automate processes, and enable collaboration among stakeholders.

Another tool is blockchain-based smart contracts that can automate supply chain processes and reduce the risk of errors and delays. These contracts can be programmed to execute automatically based on predefined conditions, such as delivery dates or quality standards.

Furthermore, there are studies that explore the use of blockchain in supply chain sustainability and ethical practices. For example, blockchain-based platforms can track the origin and sustainability of raw materials, ensuring that ethical and sustainable practices are followed throughout the supply chain.

In conclusion, blockchain technologies have the potential to transform supply chain management in Society 5.0 by improving transparency, traceability, sustainability, and collaboration. However, implementing Society 5.0 in the supply chain requires a significant investment in technology and infrastructure, as well as a commitment to collaboration and sustainability. Ongoing studies and tools are emerging to address these challenges and enable the integration of digital technologies with the human aspect of supply chain management.

Weight: 402g
Dimension: 162 x 240 x 16 (mm)
ISBN-13: 9781032006291