The impact of blockchain technology on supply chain management: A study of logistics firms in Nasarawa State.
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Background of the Study: Blockchain technology, known for its decentralized and secure nature, has gained widespread recognition for its potential to transform various industries, particularly supply chain management (SCM). The ability of blockchain to offer transparent, immutable, and real-time data sharing has made it an essential tool in improving operational efficiency, reducing fraud, and enhancing trust within supply chains (Huang & Zhang, 2023). In logistics, where the movement of goods and information spans multiple entities, ensuring transparency and traceability can be a complex challenge. Blockchain technology promises to address these issues by providing a decentralized ledger that allows all parties in the supply chain to access consistent and trustworthy data, thus improving coordination and decision-making (Chen & Liu, 2024).
In Nasarawa State, logistics firms play a crucial role in supporting the state's growing industrial and commercial sectors. However, the logistics sector has faced challenges related to inefficiencies, fraud, and lack of transparency, which often result in delays, increased costs, and loss of business credibility (Okeke & Ibrahim, 2024). The adoption of blockchain technology could be a game-changer for logistics firms by enabling greater control over the supply chain process, enhancing the tracking of goods, and providing real-time updates to all stakeholders. Despite these potentials, the adoption of blockchain technology in logistics firms in Nasarawa State is still at a nascent stage, and there is limited empirical research on its impact in the region.
This study aims to investigate the impact of blockchain technology on supply chain management in logistics firms in Nasarawa State, focusing on how blockchain can improve efficiency, transparency, and customer satisfaction.
Statement of the Problem: The logistics industry in Nasarawa State faces several challenges, including delays, inefficiencies, and fraud, which hinder the smooth operation of supply chains. Traditional supply chain models often lack the transparency and real-time data exchange needed to address these issues effectively. The potential of blockchain technology to revolutionize supply chain management by offering secure and transparent tracking systems has been acknowledged globally; however, its impact on logistics firms in Nasarawa State has not been adequately explored. This study seeks to assess how blockchain technology can improve supply chain management in logistics firms and the challenges these firms face in adopting such technology.
Objectives of the Study:
1. To assess the impact of blockchain technology on the efficiency of supply chain management in logistics firms in Nasarawa State.
2. To examine the role of blockchain technology in enhancing transparency and traceability in logistics supply chains.
3. To identify the challenges and opportunities for blockchain adoption in logistics firms in Nasarawa State.
Research Questions:
1. How does blockchain technology affect the efficiency of supply chain management in logistics firms in Nasarawa State?
2. In what ways does blockchain technology improve transparency and traceability in logistics operations?
3. What are the challenges and opportunities for logistics firms in Nasarawa State in adopting blockchain technology?
Research Hypotheses:
1. Blockchain technology significantly improves the efficiency of supply chain management in logistics firms in Nasarawa State.
2. The adoption of blockchain technology enhances transparency and traceability within logistics supply chains in Nasarawa State.
3. Logistics firms in Nasarawa State face significant challenges in adopting blockchain technology for supply chain management.
Scope and Limitations of the Study: The study will focus on logistics firms in Nasarawa State, examining the role of blockchain technology in supply chain management. Limitations include the potential for limited access to sensitive company data, a lack of awareness about blockchain technology among some firms, and challenges in generalizing the findings to other regions or industries.
Definitions of Terms:
• Blockchain Technology: A decentralized, digital ledger that records transactions across multiple computers, ensuring transparency, security, and immutability.
• Supply Chain Management (SCM): The coordination and management of all activities involved in the production and delivery of goods, including procurement, transportation, and inventory management.
• Logistics Firms: Businesses involved in the transportation, storage, and distribution of goods.
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