Exploring the Potential of Blockchain Technology in Enhancing Supply Chain Transparency and Compliance with Good Distribution Practices (GDP)

Abstract

The potential of blockchain technology to bring about increased transparency and conformity to Good Distribution Practice (GDP) is discussed. The study will rely on general literature and industry reports about the assessment of blockchain applications in supply chain management. It has also given the impacts of the element of transparency and traceability and its potential to improve GDP compliance. The results showcase the strength of blockchain in developing immutable records, process automatization, and real-time permeation throughout the supply chain. These are associated with several potential challenges, though, which are related to wide-scale adoption and integration. It holds much promise concerning revolutionizing the operation of supply chains and compliance with regulatory provisions. The paper thus concludes with future directions and opportunities for research in this fast-evolving area.