Procurement Tracking Using Block chain

Abstract

One of the large issues in procurement is fraud, and many companies undergo deep investigation before offering employment for the proper candidate because the job is extremely sensitive as large budgets allocated to acquire goods and services for business. Procurement fraud, thus, is probably going to occur within the procurement department since they affect money, through handling vendors or material ,goods ,services, transportation, logistics, distribution of products,warehousing, or other benefits in exchange for awarding the contract,and frauds are then possible supported quid pro quo, whereby an advantage is given in exchange for awarding the contract. We focus on the procurement of raw materials. The paper reviewed how Blockchain is in a position to eradicate procurement frauds through that specialize in the usability and functionality of the technology in procurement. The study uses the experiment research method to measure procurement frauds because of the experimental variable and therefore the power of Blockchain to regulate such frauds because of the dependent variables, using the non experimental research method. The study tries to highlight the challenges and possible directions of Blockchain research in protecting procurement from any sorts of frauds that could be happening, which are impossible through the normal methods. Finally, this paper points out the longer term directions within the Blockchain technology in procurement.