Blockchain-Powered Traceability Solutions: Pioneering Transparency to Eradicate Counterfeit Products and Revolutionize Supply Chain Integrity
Peter Onu, Charles Mbohwa, Anup Pradhan
Abstract
This study addresses the challenge of counterfeit goods in sustainable supply chains and its impact on achieving the UN Sustainable Development Goal of "ensuring sustainable consumption and production." By utilizing a combined methodology of qualitative data from in-depth interviews with industry experts, supply chain professionals, and technology specialists, along with quantitative data from literature and case studies, the research explores the applicability of blockchain technology in countering counterfeiting within supply chains. An implementation framework is developed, considering industry-specific barriers and mitigation measures. It investigates enablers, barriers, implementation strategies, and monitoring plans, focusing on stakeholder incentives. Additionally, a framework for blockchain-based traceability is presented, promoting visibility, authentication, and accountability to combat counterfeit goods in sustainable supply chains. The study provides valuable insights for securing supply chains, protecting consumers, and advancing industry sustainability within the manufacturing context. The recommended framework leverages blockchain's potential to revolutionize supply chain integrity and address the issue of counterfeit products effectively.