Towards Industry 5.0: Empowering SMEs with Blockchain-Based Supplier Collaboration Network.

Industry 5.0 integrates human-centered production systems with cyber-physical systems, the Internet of Things (IoT), and machine learning technologies to create flexible, efficient, and environmentally friendly manufacturing processes. Small and medium-sized enterprises (SMEs), despite their importance in the manufacturing sector, typically need more resources and skills to implement Industry 5.0 technology. This article presents a blockchain-based supplier collaboration network to support small and medium-sized enterprises migrating to Industry 5.0. Small suppliers, manufacturers, and other supply chain stakeholders can engage securely and transparently within the proposed framework. The underlying blockchain technology allows for secure, immutable storage and real-time data sharing and collaboration. The proposed approach uses smart contracts to automate cooperation procedures and integrates blockchain with emerging technologies like IoT and machine intelligence. Moreover, the underlying method can boost SMEs businesses’ competitiveness and market access. The proposed approach will therefore be of benefit to companies that have limited resources to build their own supply chain management systems. Finally, we discuss the challenges and limitations of the proposed system for implementing a blockchain-enabled supplier collaboration network for SMEs in Industry 5.0.