Supply chain management (SCM) is fundamental for gaining financial, environmental and social benefits in the supply chain industry. However, traditional SCM mechanisms usually suffer from a wide scope of issues such as lack of information sharing, long delays for data retrieval, and unreliability in product tracing. Recent advances in blockchain technology show great potential to tackle these issues due to its salient features including immutability, transparency, and decentralization. Although there are some proof-of-concept studies and surveys on blockchain-based SCM from the perspective of logistics, the underlying technical challenges are not clearly identified. In this paper, we provide a comprehensive analysis of potential opportunities, new requirements, and principles of designing blockchain-based SCM systems. We summarize and discuss four crucial technical challenges in terms of scalability, throughput, access control, data retrieval and review the promising solutions. Finally, a case study of designing blockchain-based food traceability system is reported to provide more insights on how to tackle these technical challenges in practice.