Price Traceability and Unathorised Stockpile Prevention in Supply Chain using Blockchain

Abstract

In recent times, the considerations of improving the product distribution supply structure has been increased worldwide. At the same time, it brings various complexities in the supply chain and things get much adulterated within the supply chain at the time of calamities. For instance, along with the spurious quality in products, prices too get a huge illegal raise and illegal inhuman stockpiling occurs to make the situation even worse. Hence, distribution prices are now to be disclosed and product information is to be shared with consumers. As it is already mentioned, distribution channels are complicated and supply chain management (SCM) is autonomously attained in an independent manner. For practical reason, it has been repeatedly pointed out that the distribution procedure is not transparent and the distribution margin is pretty high. The propose of this study is to structure a system that pledges the transparency of the product distribution structure by with blockchain and smart contracts in price-tracking segment of supply chain management systems. This approach allows companies as well as any consumers to track their trades, products by enhancing transparency in the Supply Chain Management, thereby blighting down companies and middlemen from having excessive profits. It also enables the authority i.e. Government to prevent stockpiling by monitoring the available stockpile of any product by any organizations or companies at any certain time.