A Review and development of research framework on Technological Adoption of Blockchain and IoT in Supply Chain Network Optimization

Industry 4.0 started to revolutionize the industrial processes, forcing industries of all the sector to digitize the current operation in the organization. Fast growing economy and increased customer demands also place important role in digitizing process. According to Infield Solutions research in 2017, currently 70% of the Fortune companies are using IoT in their business model, IoT is used for varies purposes for predicting maintenance, intelligent sensors on the jet engines, smart grid are used for utility services and energy control. Current IoT networks are connected to centralized system which is facing issues related to security and data reliability. Blockchain (chronological chain of block) is a peer-to-peer distributed ledger forged by agreement, shared with a system for “smart contracts”. The decentralized feature of blockchain overcomes the security and data reliability issues in IoT. However, on the other hand supply chain disruptions are causing huge impact on the logistics network. For creating resilient logistics network, all the parties across the supply chain (beyond tier 1) must be collaborated in order to trust each stakeholder. Based on these issues I devised two research questions: Research methods include preliminary analysis of the literature review for theoretical knowledge. Conduct interview or send research questions to the managers. Finally, concluding on how Blockchain and IoT can create resilient logistics network by Risk Management. Based on the survey results will be drawn.