DISTRIBUTED LEDGER TECHNOLOGY FOR SUPPLY CHAIN TRACEABILITY

Abstract

The present invention introduces a system and method utilizing Distributed Ledger Technology (DLT) for enhancing traceability and transparency in supply chain management. By recording product transactions on an immutable blockchain, the system enables end-to-end tracking of goods, from origin to delivery, using unique identifiers such as QR codes or RFID tags. Smart contracts automate key processes like quality checks and compliance verifications, while a consensus mechanism ensures data integrity. The system integrates seamlessly with existing ERP and IoT devices, providing real-time visibility to stakeholders through a user-friendly dashboard, ultimately reducing fraud and improving supply chain efficiency.

Specification

Description:The present invention relates to the field of distributed ledger technology (DLT), with a particular focus on implementing blockchain-based solutions for enhancing traceability, transparency, and accountability in supply chain management. This invention provides a system and method for creating a secure, decentralized, and tamper-proof record of transactions, enabling stakeholders to track and verify the movement of products across different stages of the supply chain.
BACKGROUND OF THE INVENTION
The following description of related art is intended to provide background information pertaining to the field of the disclosure. This section may include certain aspects of the art that may be related to various features of the present disclosure. However, it should be appreciated that this section be used only to enhance the understanding of the reader with respect to the present disclosure, and not as admissions of prior art.

Modern supply chains are complex, involving multiple intermediaries, such as manufacture , Claims:1. A system for supply chain traceability utilizing distributed ledger technology, comprising:
o A network of nodes representing participants in a supply chain;
o A distributed ledger configured to record transactions related to the movement of products between said nodes;
o A data integration layer for capturing data from external sources, including IoT sensors and Enterprise Resource Planning (ERP) systems;
o Smart contracts to automate and enforce predefined processes within the supply chain, including quality checks and compliance verification;
o A consensus mechanism for validating transactions before recording them on the distributed ledger, thereby ensuring data integrity.
2. The system of Claim 1, wherein the distributed ledger is a blockchain, and each transaction comprises a unique identifier associated with a product, enabling real-time tracking and traceability of the product throughout its lifecycle in the supply chain.

3. The system of Claim 1, further comprising a traceability dashboard config

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