5.3C Blockchain

Question 1

What is blockchain?

Answer 1

-permanent digital record of transactions that is stored across a distributed or decentralized network of computers

-chained together through sealed records of transactions
→ hashing: every block has a hash ID, if chain is changed the hash ID is changed and owner gets informed

Question 2

List the six distincitves of Blockchain

Answer 2

• decentralized and centralized
• distributed
• transactions in the ledger/record are validated by everyone
• every user has a unique digital key
• information recorded is immutable/unchangable
• the ledger is governed by programmed logic

Question 3

What are possible advantages of BC in Logistics and SC?

Answer 3

• Asset Tracking
• Total visibility across and down into multiple tiers of the SC
• Accountability
• Process conformance
• improved collaboration across the SC

Question 4

Define structural and reational embeddedness

Answer 4

Structural involves how relationships are configurated or structured → impersonal side of interactions

Reational is the configuration of personal realtionships through a history of events → personal side

Question 5

List the stages of an evolving network

Answer 5

• fluid network: build by a new firm
• growing network: increased structural embeddedness
• mature network: increased relational embeddedness

Question 6

List problems of BC

Answer 6

• latency and scalability
• cost and energy usage
• lack of regulation
• data quality
• lack of knowledge

Question 7

How would Blockchain technology support inventory management, demand management, and transportation management in the supply chain?

Answer 7

→ visibility (stock level, reduce bullwhip effect, reduce inventory level)

→ better forecast (POS data)

→track and trace