The Potential Role of Blockchain in Supply Chain Management in the Automotive Industry

The Potential Role of Blockchain in Supply Chain Management in the Automotive Industry

Catarina Teixeira, Gabriela Bessa, Inês Ricardo, Mariana Ferreira, Rafaela Martins, Belem Barbosa
Copyright: © 2024 |Pages: 29
DOI: 10.4018/979-8-3693-0210-1.ch013
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Abstract

The complexity of automotive supply chain management presents significant challenges, demanding rigorous coordination of tasks to ensure efficiency in its operations. This chapter examines the potential benefits of adopting blockchain technology in supply chain management. The study employs a case study methodology, focusing on a prominent European automotive company that, compared to its major competitors, appears hesitant to integrate blockchain into its supply chain management practices. The analysis relies on secondary data and utilizes a range of strategic analysis tools to gain deeper insights into the advantages that blockchain technology could offer in supply chain management. Based on the findings, this chapter offers 12 strategic recommendations pertaining to blockchain technology, which can aid the company in addressing various management issues by enhancing security, efficiency, and technological advancements.
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Background

Treiblmaier (2018) defines the blockchain as “a digital, decentralized, and distributed ledger in which transactions are logged and added in chronological order to create permanent and tamper-proof records”. In this context, a blockchain unit represents a single transaction involving one or more entities, such as a payment or information transfer. The term “blockchain” refers to the addition of a valid block to the existing chain of blocks. Blockchains are distinguished by their resistance to data alteration, as the interconnected blocks prevent modifications to transactions. Furthermore, blockchain operates based on smart contracts, which mitigate potential disputes among participants and enable instant payment triggers.

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