Impact of Blockchain in Product Management

Authors:

Mr Shushank Verma* & Dr Dr Arun Bhadauria**

*Scholar, Amity Business School,

Amity University Uttar Pradesh, Lucknow Campus, Lucknow

Email-shushankverma2004@gmail.com

**Assistant Professor,Amity Business School,

Amity University Uttar Pradesh, Lucknow Campus, Lucknow

Email-abhadauria@amity.edu

Abstract

Blockchain technology has emerged as a disruptive innovation with the potential to reshape multiple business functions, particularly product management. Product management encompasses the planning, development, launch, and lifecycle supervision of products. However, conventional systems often suffer from limited transparency, fragmented data sharing, vulnerability to counterfeiting, and poor supply chain visibility.

This study explores how blockchain, through its decentralized and immutable architecture, addresses these limitations by enhancing transparency, traceability, and trust. The paper examines key applications of blockchain in product management, including supply chain visibility, product traceability, smart contract automation, and stakeholder coordination.

Furthermore, it evaluates both the advantages and implementation challenges associated with blockchain adoption. The findings indicate that blockchain significantly strengthens operational efficiency, decision-making quality, and trust across product ecosystems, positioning it as a transformative tool for modern product management practices.

Keywords: Blockchain, Product Management, Supply Chain, Traceability, Smart Contracts