Enhancing supply chain security and transparency with ai and blockchain integration for future-proof solutions
1 Independent Researcher, Clarksville, Tennesse, USA.
2 Independent Researcher, Lagos, Nigeria.
3 Independent Researcher, Abuja, Nigeria.
Review
International Journal of Frontline Research in Science and Technology, 2024, 04(01), 043–062.
Article DOI: 10.56355/ijfrst.2024.4.1.0052
Publication history:
Received on 01 September 2024; revised on 11 October 2024; accepted on 14 October 2024
Abstract:
The objective of this review paper is to examine the integration of Artificial Intelligence (AI) and blockchain technology to enhance supply chain security and transparency, providing future-proof solutions for global industries. As the digital landscape evolves, traditional supply chain management methods face increasing vulnerabilities and inefficiencies. This paper reviews existing literature to assess the current challenges and potential benefits of integrating AI and blockchain in supply chains.
The review highlights how AI enhances predictive analytics, demand forecasting, and operational efficiency, while blockchain ensures immutable, decentralized ledgers for real-time tracking and verification of goods. The synergy between these technologies offers unprecedented levels of transparency, enabling stakeholders to detect and respond to anomalies swiftly. Case studies across various industries demonstrate significant improvements in reducing fraud, counterfeiting, and human errors, alongside enhanced compliance with regulatory standards.
Conclusions drawn from this review underscore the transformative potential of AI and blockchain in creating resilient, transparent, and secure supply chains. The integration of these technologies not only addresses current vulnerabilities but also lays the foundation for adaptive, intelligent supply chain networks capable of withstanding future disruptions. This paper provides actionable insights and practical frameworks for businesses and policymakers aiming to implement AI and blockchain solutions, emphasizing the importance of strategic planning, cross-industry collaboration, and continuous innovation in achieving long-term supply chain sustainability and security.
Keywords:
Artificial Intelligence (AI); Blockchain Technology; Supply Chain Management; Security; Transparency; Internet of Things (IoT); Smart Contracts; Predictive Analytics; Data Integrity; Scalability; Regulatory Compliance; Quantum Computing; Federated Learning; 5G Technology; Emerging Technologies; Decentralized AI Models; Real-time Tracking; Supply Chain Optimization; Supply Chain Sustainability; Corporate Social Responsibility (CSR)
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Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0