Impact of Blockchain Technology Adoption on Supply Chain Efficiency in Uganda
DOI:
https://doi.org/10.47672/ajscm.1815Keywords:
Blockchain, Technology, Adoption, Supply Chain, EfficiencyAbstract
Purpose: The aim of the study was to assess the impact of block chain technology adoption on supply chain efficiency in Uganda.
Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries.
Findings: A study conducted on the impact of blockchain technology adoption on supply chain efficiency in Uganda revealed significant potential benefits. The adoption of blockchain technology was found to enhance transparency, traceability, and security within the supply chain. By leveraging blockchain, participants in the supply chain were able to track the movement of goods in real-time, thereby reducing instances of fraud, theft, and errors. Moreover, the immutability of blockchain records ensured data integrity, fostering trust among stakeholders.
Efficiency gains were observed in various aspects, including inventory management, procurement processes, and payment settlements. Additionally, the study highlighted the role of smart contracts in automating and streamlining transactions, further improving efficiency.
Implications to Theory, Practice and Policy: Information sharing theory, technology acceptance model and transaction cost economics may be use to anchor future studies on assessing the impact of block chain technology adoption on supply chain efficiency in Uganda. Encourage collaboration among academia, industry practitioners, and technology providers to facilitate knowledge sharing and best practices in blockchain implementation. Policymakers should work collaboratively with industry stakeholders to develop regulatory frameworks that support the responsible adoption of blockchain technology in supply chains.
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