On the value of smart contract and blockchain in designing fresh product supply chains

Zhu, Qingyuan, Sun, Yaoyao, Mangla, Sachin Kumar, Arisian, Sobhan and Song, Malin (2023) On the value of smart contract and blockchain in designing fresh product supply chains. IEEE Transactions on Engineering Management. pp. 1-14. ISSN 1558-0040 (In Press)

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Abstract

The growing demand for fresh products presents a formidable challenge for managers to design a supply chain that is both cost-effective and efficient while maintaining the freshness of the products. This article examines the use of blockchain technology as a solution for enhancing resource sharing and improving the efficiency and sustainability of fresh product supply chains. In particular, we propose a smart contract that deals with the intricacies of the facility location-routing optimization problem, taking into account both resource sharing and product freshness requirements. To tackle this problem, we propose a hybrid solution approach that integrates a greedy clustering algorithm and the YALMIP toolbox. Our computational experiments validate the effectiveness of the proposed model and the feasibility of the presented solution method. Our research findings reveal the potential of blockchain technology in the fresh product industry, underscoring its significance in the development of sustainable and efficient supply chains. Furthermore, the proposed model and adopted solution method contribute to the advancement of the fresh product supply chain and provide practical suggestions for managers and policymakers.

Item Type: Article
Keywords: Blockchain | Fresh Product Supply Chain Design | Location-Routing Optimization | Resource Sharing | Smart Contract
Subjects: Social Sciences and humanities > Business, Management and Accounting > Management of Technology and Innovation
JGU School/Centre: Jindal Global Business School
Depositing User: Amees Mohammad
Date Deposited: 03 Jul 2023 02:36
Last Modified: 17 Jul 2023 05:47
Official URL: https://doi.org/10.1109/TEM.2023.3286883
URI: https://pure.jgu.edu.in/id/eprint/6267

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