Present Issues in Supply Chain Management: Block Chain - Term Paper Example

 A supply chain is usually a system of people, organizations, activities resources, or information that is required in moving a given product or a service to a customer from a potential supplier (Underwood 15). As presented in the case study, a supply chain is viewed as the comprehensive process of extracting different raw materials and delivering finished products to customers. Before any customer either in a wholesale position, retail position or a general buyer receives a given commodity; there is a need for a chain/procedure in which the respective specialties are moved.

Therefore, various technologies have been developed to ease the issue of how goods reach the final consumers. Blockchain technology, which is a technological innovation that is behind the cryptocurrency Bitcoin, is one of these technologies concerned with the supply chain. As presented in the case study, many business organizations and the business industry at large had faced many challenges before the year 2014 when companies and business entrepreneurs began incorporating Blockchain technology in their supply chains.

These challenges include growth in the number of participants, complex international regulations governing international business, and also enlargement of the general global supply chain arena. Even after the introduction of Bitcoin, still, the supply chain faces the following current issues. Globalization involves a process of integrating people, companies, and governments worldwide into a global arena to engage in successful business interactions. Perhaps globalization presents various critical supply chain control issues to organizations and enterprises.

As given in the case study, it is quite challenging to manage a supply chain with a continually changing global trend in socialization and technology. For instance, the complex global/international regulations that govern every single step in the supply chain proved to be extremely costly.