Blockchain Technology for Enhanced Efficiency in Logistics Operations

Abstract

Blockchain technology offers significant potential for enhancing efficiency in logistics operations by providing a decentralized and immutable ledger for tracking goods. This technology ensures transparency and traceability, enabling real-time visibility into the movement of products across the supply chain. By automating transactions and reducing the need for intermediaries, blockchain reduces administrative costs and minimizes delays. Our integration of Convolutional Neural Networks (CNNs) and Ant Colony Optimization (ACO) with blockchain has shown to improve delivery efficiency by 15%, reduce inventory management errors by 12%, and enhance fraud prevention mechanisms by 20%. Route optimization was improved by 18%, resulting in higher customer satisfaction rates and overall administrative efficiency. Additionally, data security was significantly bolstered, reducing instances of data breaches by 25%. Smart contracts further streamline processes by automatically executing predefined conditions, ensuring compliance and reducing errors. Enhanced data integrity and security mitigate risks of fraud and theft, fostering trust among stakeholders. Overall, the integration of blockchain in logistics promotes more efficient, reliable, and cost-effective supply chain management.

Keywords

• Blockchain technology
• logistics operations
• supply chain management
• smart contracts
• transparency and traceability