Blockchain Model Implementation to Select the Best Bid in an Industrial Supply Chain

Abstract

This paper presents an intelligent model which uses Artificial Intelligence within the Industry 4.0. It is of utmost importance to be able to choose the best supplier in order to identify a competitiveness model associated with the reduction of direct and indirect costs. The present investigation describes a novel Blockchain that uses big data for adequately determining critical factors of the purchasing department and then using a hashing model verifying and validating with real data from a manufacturing company as a components supplier within the automotive industry. This research focuses mainly on specifying the mathematical modelling involved in Blockchain and its implementation using innovative factors from the financial area.