Blockchain – Inventory management’s next revolution or just an overdue trend?

Abstract

Technology is a major part of our lives and the next big thing that is going to revolutionise how we do business is; blockchain. This revolutionary technology has the potential to completely overhaul current systems and could provide inventory management with the necessary transparency and security it so much desires. Every document and transaction would be interlinked and readily accessible for everyone that has access to it. This should be supply chain management’s endgame; one methodology to rule them all. Therefore, this paper introduces the challenges of adopting a blockchain-enabled inventory management system in order to provide a clear picture of the potential impact of this dormant technology. In this work, the use of blockchain technology tackles the main issues and uses of inventory management by providing practical use cases and opinions of practitioners’ experts. Simply put, this study clears the fog that hangs over a blockchain-enabled inventory management system.