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The Use of Blockchain Technology in Managing Product Life Cycle at the Enterprise

Journal: Quarterly Scientific Journal "Economic Herald of the Donbas" (Vol.65, No. 3)

Publication Date:

Authors : ;

Page : 216-221

Keywords : blockchain; smart contract; product life cycle; enterprise; Ethereum; IPFS.;

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The purpose of the article is to present models of using blockchain technology in product life cycle management at the enterprise for improving the efficiency of the enterprise by integrating blockchain technology into product life cycle management. The solution of the tasks set in the article has been made with the use of general scientific and special methods of theoretical research, such as: analysis, systematization and generalization, project approach. The model of increasing the efficiency of work of the enterprises by improving technological processes of a life cycle of a product has been developed. The main advantage of the model is to ensure greater reliability of data obtained in production, as well as their reliability in tracking and documenting product changes throughout its life cycle based on the use of blockchain technologies and smart contracts integrated into the production process. Transparency of the entire supply chain, providing clear and complete information about the progress of production is provided comprehensive information about all the states in which the product has been in the life cycle, resources expended, changes made by workers or industrial installation. The article substantiates the feasibility of implementing blockchain technology at the enterprise, which ensures the preservation of the entire history of product changes and to find abnormal indicators in the production of the product, quickly eliminate them, reducing production costs.

Last modified: 2022-01-11 19:45:53