Business Commons^™

Integration Of Blockchain Technology Into Supply Network For Resilient And Efficient Acquisition [Video], Adrian Gheorghe, Farinaz Sabz Ali Pour, Unal Tatar, Omer Faruk Keskin, Cornel Vintila, Laura Manciu

Engineering Management & Systems Engineering Faculty Publications

In the modern acquisition, it is unrealistic to consider single entities as producing and delivering a product independently. Acquisitions usually take place through supply networks. Resiliency, efficiency, and effectiveness of supply networks directly contribute to the acquisition system's resiliency, efficiency, and effectiveness. All the involved firms form a part of a supply network essential to producing the product or service. The decision-makers have to look for new methodologies for supply chain management. Blockchain technology introduces new methods of decentralization and delegation of services, which can transform supply chains and result in a more resilient, efficient, and effective supply chain. This …