Rising global supply chains’ complexity, coupled with demand for transparency, traceability, and resilience, has increased interest in blockchain technology as a transformative enabler. This paper presents a systematic review of blockchain applications in supply chain management, focusing on the Saudi Arabian context and its alignment with Vision 2030 objectives. The review spans five interrelated domains. First, transparency and traceability are examined, emphasizing blockchain’s potential to ensure end-to-end product visibility and authenticity in sectors such as food, pharmaceuticals, and petrochemicals. Second, trust and collaboration mechanisms are analyzed, highlighting how distributed ledger technologies facilitate secure data exchange and enhance coordination among multi-tier stakeholders. Third, operational efficiency and cost optimization are explored, noting the role of smart contracts and automation in procurement, inventory, and logistics. Fourth, regulatory, governance, and institutional issues are discussed, with attention to legal frameworks, interoperability standards, and cultural factors shaping blockchain adoption in the Kingdom. Finally, sustainability and risk management are addressed, assessing blockchain’s capacity to support green supply chains, carbon monitoring, and resilience against disruptions. Overall, this study provides an integrative perspective on opportunities and barriers to blockchain adoption in Saudi supply chains.