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Blockchain technology and smart contracts are emerging as transformative tools for enhancing transparency and efficiency in supply chain management and vendor relations. Traditional supply chains often face challenges such as inefficiencies, lack of transparency, and susceptibility to fraud (Kouhizadeh Tian, 2016). Our findings suggest that blockchain and smart contracts can significantly improve supply chain transparency and vendor management, though their implementation requires careful consideration of technical, regulatory, and organizational factors (Saberi et al., 2019). Notable case studies, such as Walmart’s blockchain pilot for food safety and De Beers' diamond tracking initiative, illustrate the practical benefits and challenges of adopting these technologies in real-world scenarios (Casino, Dasaklis, Kshetri, 2018). Despite the promising outlook, further research is needed to address scalability, interoperability, and regulatory compliance issues to fully realize the potential of blockchain and smart contracts in supply chain management (Hughes et al., 2019).
Kumar et al. (Fri,) studied this question.