The Managerial Role of an Integration of Blockchain and Invoices Processing in Supply Chain Management

Abstract

Organizations struggle with centralized supply chain management systems in service and manufacturing sectors make a supply chain under serious challenges due to the business development and expansion in the global economy such as risk of corruption, fraud, payment delying and tampering that exist effective techniques to help organizations such blockchain to play a major role to enhance business activities and cope with supply chain challenges. The main purpose of this study is to investigate the role of blockchain and invoice processing in supply chain management and how the blockchain can be integrated into supply chain to create transparency, accuracy and enhance system security. In addition, it helps to reduce the payment delayed and speed up the invoice processing in supply chain as well. The study introduces a conceptual model that includes an integration between blockchain and supply chain and invoice processing. The conceptual model suggested to reduce the invoice processing deviations, discrepancies and payment delays to suppliers. It is expected to aid the company in planning and managing its financial resources.