International Journal for Research in Applied Science & Engineering Technology (IJRASET)

ISSN: 2321-9653; IC Value: 45.98; SJ Impact Factor: 7.538

Volume 11 Issue IV Apr 2023- Available at www.ijraset.com

VI.CONCLUSIONANDFUTURESCOPE

In conclusion, the blockchain-based supply chain management system developed provides an efficient, transparent, and secure way of tracking and managing the supply chain of products. The use of blockchain technology has the potential to transform the supply chain industry, enabling faster, more efficient, and cost-effective supply chain management. This work showcases the immense potential of blockchain technology and how it can be leveraged to bring about transformative changes in various industries. By incorporating real-time tracking, the system could provide enhanced transparency to all stakeholders in the supply chain. Manufacturers and distributors would be able to track the movement of products in real-time, providing valuable insights into the overall supply chain. This would lead to better inventory management, reduced wastage, and improved product tracking. Blockchain technology can help streamline regulatory compliance in several ways. For instance, the system could be programmed to automatically flag any products that do not meet regulatory standards, allowing manufacturers to take corrective action before the product reaches consumers. This would improve compliance with regulations and help reduce the risk of legal and financial penalties. The system could be expanded to include a rating system for products. Customers could rate products on various factors such as quality, authenticity, and price. This would allow businesses to get feedback on their products and improve their offerings accordingly.

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International Journal for Research in Applied Science & Engineering Technology (IJRASET)

ISSN: 2321-9653; IC Value: 45.98; SJ Impact Factor: 7.538

Volume 11 Issue IV Apr 2023- Available at www.ijraset.com

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