This study uses JD.com as a case study to explore blockchain technologyâs application in supply chain management. By leveraging distributed ledgers, consensus mechanisms, smart contracts, and cryptographic techniques, blockchain effectively tackles problems related to privacy protection, information traceability, and authenticity within traditional supply chains. This paper examines JDâs blockchain framework and its impact on various supply chain functions, revealing that blockchain technology has markedly improved procurement efficiency, reduced costs, enhanced customer trust and sales revenue, optimized logistics operations, and streamlined management processes. Through its JD Chain platform, JD.com has boosted operational performance and economic value and offered valuable insights for smaller enterprises. Given the technical and financial constraints faced by smaller firms, it is recommended that they engage in open source blockchain communities hosted by larger organizations to lower information acquisition costs and share resources. This paper provides practical advice for enterprises considering the integration of blockchain technology into their supply chain management.
Thong Li Yi, Ricky Chia Chee Jiun, Mohd Fahmi Ghazali
Among all the cryptocurrencies in the market, Bitcoin is the most widely discussed and most popular cryptocurrency in the cryptocurrency market. This study aims to review and summarize the existing literature findings pertaining to the impact of geopolitical risk and economic policy uncertainty on Bitcoin. The results shown geopolitical risk and economic policy uncertainty have predictive power on Bitcoin prices. Both economic policy uncertainty and geopolitical risk have positive and negative effects on Bitcoin. The geopolitical risk and economic policy uncertainty able serve as a hedging instrument against Bitcoin. Bitcoin also can act as a safe haven against geopolitical risk and economic policy uncertainty. A summary of further implication from previous study suggested utilizing other uncertainty measures, applying other cryptocurrency, exploring Bitcoinâs relationship with other financial assets, and employing alternative methodologies.
Patrick Dudczyk, Julie K. Dunston, Garth V. Crosby
Supply chain management depends on a complex, interconnected network of suppliers, manufacturers, transportation companies, distributors and customers with the goal of predicting, monitoring and controlling operations and processes. Globalization has introduced fierce competition, forcing supply chains to innovate and enhance their performance and capabilities. Centralized management systems are prone to attacks, disruptions and malfunctions. A potential solution to these known issues is the adoption of blockchain technology. The blockchain offers an immutable ledger that allows for a trustless, decentralized system without reliance on third parties. It can provide new features, improve performance, advance network visibility and strengthen the four flows of a supply chain. To survive and compete on the global stage, supply chains must adopt emergent technologies to develop new business strategies. In this paper, a comprehensive survey of academic literature and research works relating to blockchain platforms for global supply chain management is presented. This survey will provide an overview of blockchain technology for supply chain management, summarize industry applications, highlight persistent challenges, and identify research opportunities to enhance the current state of research in the past six years. The contribution of this survey is to also provide a list of available blockchain solutions for global supply chain management and to elaborate on future advancements in the field. New solutions will be proposed and explained.
Blockchain is an emerging technology penetrating various real-time and sensitive domains including financial products. Block chain can deal with complex system of financial transactions with focus to provide security and integrity to both the parties with reliable flow of transactions and asset securitization. Block chain is a distributed technology providing a lot of benefits such as cryptic transactions, smart contracts, distributed ledger system along with decentralization, authentication, authorization, and immutability to enhance the efficiency of the financial system. In this paper, the existing solutions for asset-backed securitization in blockchain are analysed and reviewed to highlight the requirements for change in design and ideas for enterprise applicability of blockchain for asset securitization. Also, the benefits of blockchain to reduce the risk.
In view of the problems existing in traditional supply chain finance, such as narrow scope of credit objects, limited information integration and difficult transaction supervision, the application framework of blockchain technology supply chain finance is established by using the characteristics of blockchain, such as openness, decentralization, traceability and smart contract. The comprehensive fuzzy evaluation method will be used to provide blockchain solutions and optimize the current supply chain financial risks from the perspective of blockchain and in combination with supply chain financial risks, establish a supply chain financial risk evaluation index system suitable for blockchain, and put forward a more accurate fuzzy prediction model, which puts forward a new direction for the research of supply chain financial risks. This demonstrates the practicality of blockchain technology in supply chain finance, offering countermeasures to enhance overall efficiency for all participants.
Ronny Hauf, Robert Miehe, Oliver Schöllhammer, Thomas Bauernhansl
Biological transformation represents one of the most promising optimization strategies for a sustainable economy. The rapid convergence of biotechnology, information technology and production technology provides a vast area of innovation. From an economic and innovation policy perspective, cooperation structures and value creation systems will change significantly in a biointelligent transformation process. In the future, many industries will produce personalized products in a much more decentralized manner based on locally provided, renewable resources using autonomous non-expert systems. Such a profound change affects not only products and processes but also the organization of companies and how innovations are evaluated and implemented. In this paper, we thus discuss the need for a reorientation of innovation management in companies in the context of biological transformation. This article focused the central question of how the innovation management can change in the context of biointelligence so that companies can be helped to invest strategically in biointelligent innovations. We then outline the basic elements of a framework and discuss key challenges for future research and development. In this paper, we present initial thoughts on a framework for the management of biointelligent innovation that aims to solve the complex requirements of BioIntelligence. Our approach is based on a holistic view of different methods and techniques to provide a comprehensive solution to the challenges. We discuss the basic concepts and goals of this framework as well as potential application areas and challenges. Furthermore, we present first approaches for implementation and evaluation.
Enis Karaarslan, Arzu Ăzkan, Cemal Dak, Umutcan Korkmaz
The necessity for an efficient resource management system during and postdisaster is underscored by the prevalent coordination and resource management challenges faced by various organizations, including non-governmental organizations (NGOs) and government units. To address these problems, our system proposal introduces NGO-RMSD, a blockchain-based decentralized system designed to enhance collaborative efforts during and after disasters. Utilizing the Quorum framework for its energy efficiency, NGO-RMSD enables seamless transactions and updates across parties, eliminating intermediaries and fostering a trusted environment for resource management. This paper details the development of this decentralized system, incorporating smart contracts for autonomous operation. Decentralized systems provide superior security, transparency, and immutability, making them fundamentally more robust and efficient than centralized systems for managing complex, multi-stakeholder scenarios like dis-aster response. This decentralized model ensures transparency, eliminates intermediaries, and enables all parties to conduct transactions and updates reliably. These contracts effectively assess and prioritize the needs of affected individuals, ensuring timely and accurate resource allocation. A proof of concept has been implemented, demonstrating the practicality and potential impact of NGO-RMSD. Designed in alignment with NGO's field requirements and distributed under a free software license, this system promises to significantly improve coordination for disaster resource management. Possible improvements and future work for a more sustainable system is discussed. Looking forward, we aim to enhance the efficiency and effectiveness of disaster relief efforts by providing assistance to a larger number of affected individuals in a more organized and expeditious manner.
Open access
Supply Chain Resilience and Risk Management
Facility Location and Emergency Management
Infrastructure Resilience and Vulnerability Analysis
The research proposes a new method for Viable Supply Chain Network Design (VSCND) that incorporates Open Innovation (OI) and Blockchain Technology (BCT). A robust stochastic optimization and Conditional Value at Risk (CVaR) in the cost function is utilized to develop the model. This model's objective function incorporates the expected value, maximum cost, and CVaR cost. The OI and BCT platforms are suggested for an antifragile policy against disruption. In addition, CO 2 emissions and energy consumption are proposed as sustainability requirements. Eventually, minimum demand satisfaction and resilience facilities by incorporating capacity based on specific scenarios are added to the model for an agile strategy. This research entails several parties, including vendors supplying the primary components and manufacturers creating products based on customer preferences. OI and BCT platforms aim to receive demand based on customer specifications and facilitate rapid transactions between components. Risk-averse decision-makers utilize a polyhedral Data-Driven Robust Optimization (DDRO) approach to manage uncertainty and flexible sets. Incorporating OI and BCT as antifragility instruments resulted in a 0.2% cost reduction for VSCNDOIBCT compared to when OI and BCT were not considered. This research suggests that integrating OI and BCT positively affects SC performance overall. The decreasing rate, DDRO coefficient, agility rate, demand variation, and problem size were subjected to a sensitivity analysis.
Blockchain technology enables supply chains to share and distribute data in secured and decentralised environments through validators who trust and validate transactions.The use of blockchain was crucial in the context of the healthcare supply chain (HCSC) during COVID-19, where transactions were secure, and links throughout the supply chain were physically disrupted.Current research has focused on the blockchain application in industry, reviewing its architecture and the mechanisms involved.However, limited empirical studies consider HCSCs and the associated implementation challenges.In this sense, our case study of Indian hospitals has engaged with various stakeholders of the HCSC including clinicians, nurses, doctors, hospital managers, and digital healthcare equipment companies to explore the context to answer the following research questions: (i) What is the impact of the blockchain technology in the HCSC context? and (ii) What are the challenges faced in utilising blockchain technologies in the HCSC?Our findings indicate that the challenges blockchain implementation faced were based on variations in patients' treatment needs, data storage and privacy, interoperability, digital transformation, technology resistance, training and skills development, resource restraints and capabilities, and supply chain-wide collaboration.The study emphasises challenges for Blockchain in HCSC setting that both practitioners and academics need to be cognisant of.
Ranran Dang, Hui Li, Ao Yang, Zhao-Chen Ma · 6 authors
High-value commodities, such as luxury goods, artworks, and jewelry, face unique challenges in terms of traceability, transparency, and authenticity due to their distinctiveness and high value. This study aims to propose an innovative solution for the high-value commodity supply chain by integrating elements of consortium blockchain technology, non-fungible tokens (NFTs), and decentralized identities (DIDs). We utilize consortium blockchain technology to build a supply chain management system with digital twinning features, where each user possesses an immutable DID. The system leverages NFTs as digital twins for commodities, utilizing smart contracts to record production and logistics information, ensuring transaction transparency and credibility. Simultaneously, the introduction of DID) enhances the security of user identity information on the supply chain. This comprehensive solution integrates consortium blockchain, NFTs, and decentralized identities, providing a higher level of security, traceability, and user control for the high-value commodity supply chain.
Mohammad Basheer, Faris Elghaish, Tara Brooks, Farzad Pour Rahimian · 5 authors
The prevailing practices in construction supply chain management are characterised by significant challenges, including fragmentation, a lack of trust among stakeholders, and restricted information sharing. This research introduces a blockchain-based integrated system for managing construction materials and inventory to enhance the traceability and transparency of shared supply chain material information. This initiative will foster a collaborative and open supply chain environment among stakeholders and effectively address material delays, resulting in smoother project operations and minimized disruptions, thus promoting operational efficiency. Furthermore, the system's potential to substantially reduce the incidence of legal disputes is underpinned by the secure and tamper-proof storage of information within shared ledgers, fostering a high level of accountability and trustworthiness. The integration of the Economic Order Quantity (EOQ) approach within blockchain smart contracts streamlines procurement processes, leading to a noteworthy reduction in purchase orders and associated overhead costs. The study employs a Design Science Research (DSR) approach to create a decentralised construction supply chain system, monitoring changes in material information during the supply process and addressing uncertainties associated with managing construction material inventory. The proposed system empowers project stakeholders by providing real-time material information access, resulting in improved decision-making and a reduction in material delays. Additionally, the construction material management-based blockchain and smart system enables project parties to efficiently handle inventory for complex projects, interconnecting all supply chain tasks within an integrated smart contract. The usability of the proposed solution was assessed using a usability test technique, with participants confirming its applicability in construction environments. They highlighted key benefits, including reduced material purchasing costs, decreased legal disputes among project stakeholders, and improved decision-making.
Chiranjibi Shah, Niamat Ullah Ibne Hossain, Md Muzahid Khan, Shahriar Tanvir Alam
Blockchain technology and the Internet of Medical Things (IoMT) have garnered increased attention recently due to their growing application in effectively managing data security, storage, and transmission concerns within healthcare organizations. However, integrating various advancements, such as coordination, adaptivity, and automated responses, within the framework of blockchain-based IoMT has amplified its susceptibility to a range of attacks and vulnerabilities. Assessing and enhancing the resilience of blockchain-based IoMT is of utmost importance, particularly in anticipation of potential disruptions, to ensure its continuous and sustainable functionality. The stochastic nature of risks adds complexity to evaluating the resilience of blockchain-based IoMT, given that resilience in this domain may fluctuate over time. This study employs a dynamic Bayesian network (DBN) method to address the evolving characteristics of pertinent variables, capturing their temporal dependencies and demonstrating how the resilience capabilities of blockchain-based IoMT may evolve across different time intervals. Additionally, an information theory approach is adopted to mitigate uncertainty regarding the resilience performance of blockchain-based IoMT and its crucial subcomponents. This research showcases the effectiveness and adaptability of the DBN methodology in healthcare systems, offering insights for shaping appropriate and essential strategies for decision-makers to establish a highly resilient framework for blockchain-based IoMT.
The main aim of this study was to investigate the impact of blockchain technology, business ethics, and corporate social responsibility (CSR) on social sustainability. Additionally, this study sought to explore how CSR and business ethics serve as mediators in shaping these impacts. This study collected data from employees in the banking sector in the United Arab Emirates (UAE), using a purposive sampling technique. A cross-sectional research design was employed, and a questionnaire was developed to gather responses from 416 participants. The usable response rate was 62.67%. This study utilized structural equation modeling (SEM) with SmartPLS as a tool to analyze the data. The results of this study indicate that blockchain technology has a positive influence on CSR, business ethics, and social sustainability. Additionally, CSR and business ethics have a positive effect on social sustainability. This study confirms the mediating role of business ethics and CSR. These findings can be useful for bank officials and academic decisionmakers in developing strategies.
Maritime transportation plays a critical role for many Arab countries and their food security and has evolved into a complex system that involves a plethora of supply chain stakeholders spread around the globe. This inherent complexity brings huge security challenges, including cargo loss and high burdens in cargo document inspection. The emerging blockchain technology provides a promising tool to build a unified maritime cargo tracking system critical for cargo security. This is because blockchains are a tamper-proof distributed ledger technology that can store and track data in a secure and transparent manner. Using the State of Qatar as a case study, this research introduces the Global Maritime Ledger (GM-Ledger), which will aid authorities in verifying, signing and transacting food certificates in an efficient manner. The methodology of this research includes reviewing past publications, identifying the requirements of various players in the Qatari food import-export industry and then creating a smart contract framework that will efficiently manage the work with necessary human intervention as and when required. The result of this work is the formation of a solid framework that can be employed in future works. This work realized that employing web3 solutions for the food import sector is highly viable and that with the right social, economic and policy reforms, it is possible to transform the entire food system to bear healthy transparency and power balance in global supply chains. In conclusion, this study argues that BCT has the ability to assist the government and other players to minimize fraud and maximize food supply chain stakeholder participation.
Atul Kumar Singh, V. R. Prasath Kumar, Gholamreza Dehdasht, Saeed Reza Mohandes · 6 authors
This study aims to investigate the barriers to the adoption of Blockchain Technology (BT) within the field of Construction Supply Chain Management (CSCM) by unravelling their interrelationships. In doing so, a Pythagorean fuzzy-set-based DEMATEL method to assess these barriers in a complex environment is proposed. The results of the study suggest that âmarket-based risksâ, âhigh costs for maintaining sustainabilityâ, and âusage in the underground economyâ are the most influential barriers to the adoption of BT in CSCM. Furthermore, the study identifies that âinadequate knowledge/employee trainingâ, âcontractual riskâ, and âscalability issuesâ play a pivotal role within the CSCM system. The reliability and validation of the obtained results were also shown using sensitivity analysis and the focus-group-discussion approach. The findings of this study provide valuable insights for stakeholders in the construction industry to design and implement effective measures to overcome the identified barriers to the adoption of BT in CSCM. By addressing these barriers, stakeholders can facilitate the adoption of BT, leading to more efficient and effective construction supply chain management practices.
Abstract Increasing complexity and the involvement of additional stakeholders make it impossible to predict the impact of each decision, which puts supply chain managers in uncertain situations. However, a supply chain that can adapt and react to the current scenario gives them some control over these ambiguous circumstances. These characteristics of sensing disturbances or threats and giving appropriate responses can be improved with the implementation of blockchainâenabled technologies and can prove critical to the success of supply chain resilience and sustainability. This study has identified 21 blockchain technologyâenabled critical success factors for supply chain resilience and sustainability and grey theory is used to address the limitation of data availability. This study incorporates the combination of the GreyâDEMATEL (Decision Making Trial and Evaluation Laboratory) method to investigate the impact of critical success factors and to obtain the cause/effect relationship. Sensitivity analysis is performed to assess the robustness of obtained results. The findings indicate that internal integration is the most crucial causal factor, as it initiates the effects of many other critical success factors. Whereas Standardized Data Management, followed by Smart Ordering tops the effect group. As blockchain technology is still in its early stages of development, this study will encourage researchers and industry practitioners to strive for greater efficiency and effectiveness in their supply chain practices and to enhance the resilience and sustainability of their supply chains.
This paper aims to provide novel insights in the use of recent advances about non-fungible and Soulbound tokens, as they are a growing reality in the context of the DLT framework. In particular, this work discusses how these technological provisions can enable a renovated and strengthened role of the Internet of Everything concept in the complex processes of the Industry 5.0, where the social, societal, and technical dimensions merge into an irreducible applicative context. The potentialities of the approach are expressed by means of a simple but meaningful example on an industrial case study concerning the food supply chain.
Blockchain is a groundbreaking technology widely adopted in industrial applications for improving supply chain management (SCM). The SCM and logistics communities have paid close attention to the development of blockchain technology. The primary purpose of employing a blockchain for SCM is to lower production costs while enhancing the systemâs security. In recent years, blockchain-related SCM research has drawn much interest, and it is fair to state that this technology is now the most promising option for delivering reliable services/goods in supply chain networks. This study uses rigorous methods to review the technical implementation aspects of SCM systems driven by Blockchain. To ensure the security of industrial applications, we primarily concentrated on developing SCM solutions with blockchain capabilities. In this study, the unique qualities of blockchain technology have been exploited to analyze the main effects of leveraging it in the SCM. Several security metrics are utilized to validate and compare the blockchain methodologiesâ effectiveness in SCM. The blockchain may alter the supply chain to make it more transparent and efficient by creating a useful tool for strategic planning and enhancing connections among the customers, suppliers, and accelerators. Moreover, the performance of traditional and blockchain-enabled SCM systems is compared in this study based on the parameters of efficiency, execution time, security level, and latency.
Abstract Supply chain management has become increasingly complex, leading to information loss and delayed transmission, exacerbating the bullwhip effect. Furthermore, the need for more reliable information storage, traceability, and accountability has slowed supply chain management. In this context, blockchain technology (BCT) solves the bullwhip effect problem, as it supports distributed networking, information synchronization among nodes, digital encryption, traceable information, and unchangeable block content. This paper proposes using public blockchain to solve the bullwhip effect problem in the supply chain (SC), which has yet to be discussed in published academic research papers. To this end, a framework has been developed to determine the readiness of a supply chain for blockchain adoption. This framework includes a checklist to evaluate the motivation, timing, and appropriate platform for adopting blockchain. The framework has been validated using a case study of personal computer devices, which were affected by the Covid-19 pandemic and resulted in semiconductors supply chain disruption. The study involved polling four executives The study involved polling four executives (of large organizations in Egypt and some Middle Eastern countries) representing different stages in the supply chain, they are retail, distribution, manufacturing, and supply. The results showed that while the executives recognized the benefits of adopting blockchain, they were still determining if it was the right time for adoption and did not see the technology ready for their supply chains. Finally, some public blockchain platforms were introduced to help businesses choose the most suitable platform for adoption.
The construction industry is often criticised due to its inherited challenges. Lack of trust and transparency, inadequate collaboration and complex structure have plagued the construction sector. Blockchain is a technology that has the potential to address these issues by automating procedures and enhancing traceability and transparency with its salient features. Whereas adaptation of blockchain within the construction industry is still at its inception. The situation is bleak in developing countries and there are numerous barriers and limitations that impact the implementation process. Therefore, this paper aimed to distinguish the barriers that affect the adaptation of blockchain and smart contracts for the construction industry of developing countries. The study used a mixed research approach. The barriers were ranked based on the data collected through a questionnaire survey and strategies to overcome them were identified through expert interviews. Findings derived from the analysis indicate that having a limited number of construction related software applications (powered by blockchain), the reluctance of the companies to bear additional costs to adapt blockchain and sluggish adaptation to new technologies as the significant barriers. As per the identified strategies, conducting an industry-wide digitalisation analysis, developing an industry-wide digitalisation strategy and recruiting skillful staff can be pointed out as the weighty strategies. The outcomes of this research were gained through the data collected from Sri Lanka, which is a limitation of this study. Eventually, a framework was developed as a guideline to implement blockchain and smart contracts for the construction industry of developing countries.
This thesis aims to provide new insights into the use of recent advances in non-fungible token (NFT) and Soulbound technology, which are becoming increasingly important in the blockchain context. Specifically, it discusses how these technologies can enable a renewed and strengthened role for the Internet of Everything concept in the complex processes of Industry 5.0, where social, societal, and technical dimensions merge in an irreducible application context. In this context, the concept of reputation and trust becomes crucial, which is closely related to another broader concept: cybersecurity, an ever-present topic. Not to mention another important aspect: privacy, another hot topic. Blockchain technologies, or more generally, DLT (Distributed Ledger Technology), represent valid tools for achieving certain objectives closely tied to these concepts, which become even more crucial in a supply chain.The use of these technologies can improve reputation and trust within a supply chain. Blockchains can provide greater transparency and traceability of information, allowing consumers to better understand the provenance of the products they purchase. This can increase consumer trust in the food supply chain and enhance the reputation of the companies involved. Indeed, the reputation and trust of these actors can also be tracked and automated, making the entire process more reliable, secure, and dynamic. The potential of this approach is illustrated through a simple yet significant industrial case study project on the food supply chain, currently being researched as part of a European collaborative research effort.
Nadir Munir Hassan, Syed Abdul Rehman Khan, Muhammad Umair Ashraf, Adnan Ahmed Sheikh
Increased industrialization has led to unprecedented resource depletion on a global scale. The current state of affairs has compelled practitioners and academics to investigate the role of sustainable technologies in greening the operations of businesses. Previous studies have attempted to examine the number of operational aspects for their role in making firms sustainable, yet the utility of blockchain technologies is in its infancy. The role of BT in enhancing integration across supply chains has been in the limelight in the recent past. At the same time, its ability to cause sustainable supply chain performance (SSCP) in sync with the circular economy (CE) and supply chain integration (SCI) has largely remained unexplored. Therefore, this study intends to examine the association between blockchain technologies (BTs) and SSCPs through integration to fill the empirical gaps. The study was pursued to investigate the moderating role of the CE on the relationship between multiple extents of SCI and SSCP. Based on dynamic capability theory (DCT), the study considered BT a dynamic resource. BTs are used to integrate and reenergize the relationships with upstream and downstream channel members in pursuit of sustainable performance outcomes. The study opted for a cross-sectional design, where data was collected through convenience sampling from 475 managers from SMEs operating across Pakistan. PLS-SEM was used to analyze the data and to generate the required empirical outcomes. Study results favored the significant association between BT and SSCP, followed by a significant mediating role of SCI dimensions and moderating role of the CE. The study's findings propagate the utility of BTs adoption for SMEs, which holds the potential for firms to achieve system-wide integration to achieve sustainable outcomes. The given empirical investigation holds valuable insights for practitioners and scholars intending to pursue research on the subject matter.