Accounting and analytical support for responsible supply chain management using blockchain technology

Abstract

The article is dedicated to exploring the possibilities of blockchain technology in the process of accounting and analytics support for responsible supply chain management, which has been rapidly developing over the last decade. Foreign experience in the use of blockchain technology in management systems and accounting systems are examined as its integral part. The distinction between the concepts of «supply chain process management» and «responsible supply chain management» is considered, with a focus on social, environmental, ethical, and economic aspects. The opportunities and advantages of implementing blockchain technology in the activities of Ukrainian companies in the process of responsible supply chain management and accounting and analytics support for this process are defined. The working principle of blockchain technology in the context of supply chain participants with an unlimited number of geographically dispersed participants are outlined. The expediency of using blockchain technology for accounting and analytics support for responsible supply chain management is justified, as it enhances transparency, and credibility of information, and accelerates its exchange, thereby increasing trust among all supply chain participants. It is determined in which specific areas of accounting this technology can be used: for analyzing the solvency of counterparties, monitoring cargo at all stages of movement, entering smart contracts, and so on. Responsible supply chain management using blockchain technology is considered as a component of ERP, with the possibility of integration both within and beyond the organization.

Keywords

• responsible supply chain management
• blockchain
• sustainable development
• accounting and analytics support