Computational Blockchain Framework for Quality Assessment in Sharing Economy-Based Supply Chain Management

Abstract

Due to the complexity of global supply chains and the sharing economy, inefficiencies in traditional quality assessment methods are drawn out, mainly using manual inspections, centralized oversight, and paper-based tracking. In the case of these outdated approaches, they are likely to commit errors, fraud, and regulatory noncompliance [1]. This paper explores blockchain technology as a solution to supply chain transparency, automation, and quality assurance problems. The tamperproof records of Blockchain allow the transactions recorded to be tamperproof. At the same time, smart contracts ensure that the agreements governing the transactions are automated and have continuous and self-enforcing compliance. Adding blockchain technology to the Internet of Things (IoT) even further helps in the real-time monitoring of product conditions and reduces the rate of defect and fraud. This study shows how Blockchain significantly improves the traditional methods of quality assessment using comparative analysis, resulting in almost 2 times fewer defects (up to 67%), less than 90% of supplier compliance, and 60% less audit expense in major industrial sectors. Nevertheless, problems, including high deployment cost and scalability issues, still exist. Nonetheless, the study outlines how Blockchain paves the path to transformative supply chain management, not management, in a traditional supply chain context and a decentralized sharing economy. The results of this study can be used to discuss further the opportunity to incorporate emerging technologies in helping suppliers be accountable for fulfilling orders on time and care in how they handle customer data while also increasing the efficiency of the supply chain.