Prospects of Blockchain Technology in the Automatization of Procurement

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MAGAZINE №6(89) December 2018

AUTHOR KOLOSOV A.M.  - Postgraduate student, Department of Logistics and Supply Chain Management, National Research University Higher School of Economics (Saint-Petersburg, Russia)

CATEGORY  Analytics and reviews Information technologies in logistics and SCM Modern concepts and technologies in logistics and SCM Sourcing

ABSTRACT

Today the increase in productivity and efficiency of the companies is directly connected with information technology development. Application of modern information technologies in logistics and supply chain management are needed to reduce costs and improve process efficiency. One of the most relevant directions in the field of logistics, in terms of process automation, is the purchasing activity of the companies. In relation to purchases, one of the most perspective technologies is the blockchain technology. Blockchain is a distributed database and the corresponding management system of current distributed database, by means of which the considered technology is implemented. This technology allows automating process of transactions in information systems of the companies by using smart contracts. It is declared, that use of this technology will allow to automate and optimize several processes related to purchases and other directions. However, the novelty of this technology creates some risks connected with the implementation of systems based on blockchain technology and lack of the legislative base. In this way, it is necessary to carry out the blockchain market status assessment and the analysis of risks and further perspectives of applying this technology. The article includes examples of the existing blockchain projects, considers analytical data of research about potential perspectives of technology and systematizes information about the possibility of use blockchain technology in purchasing activity of the companies. The analysis shows areas of purchasing activity where the use of blockchain technology is most justified, what problems need attention and what changes are happening in the blockchain market now. 

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