With the gradual and widespread application of blockchain technology in the supply chain, its characteristics can help solve the financing problem of MSMEs. To this end, this paper constructs a cooperative game model for suppliers, manufacturers and retailers in the case of a cross-level guarantee of order-to-factoring, studies the pricing strategy of supply chain finance members based on blockchain technology by adopting the Stackelberg primary-secondary game method, and makes a reasonable allocation of total supply chain revenue with the help of the Shapley value of the cooperative game. The study found that the adoption of blockchain can be effective in increasing the benefits to supply chain members and systems. The adoption of blockchain increases the blockchain costs but decreases the financing costs for the supplier. The Shapley value of the cooperative game is used to distribute the benefits, allowing for Pareto improvements in the benefits to supply chain members. In the next step, we will focus on examining the impact of risk assessment and the degree of information disclosure on supply chain finance with blockchain technology.
Purpose This study examines the cognitive factors of adopting blockchain technology in various supply chain scenarios and its role in reframing the distinctive values of supply chain financing. Based on expectancy theory, this study explores the different profiles underlying the components of expectancy, valence and instrumentality. Design/methodology/approach This is a multiple-case study of four Fintech companies using blockchain technology to promote the performance of supply chain operations and financing. Findings The results show that blockchain-enabled supply chain finance (BSCF) can be classified into four scenarios based on the scope and purpose of blockchain technology applications. The success of BSCF depends on the profiles of BSCF expectancy (the recognized purpose and scope of BSCF), instrumentality (identified blockchain attributes and other technology combinations) and valence (the perceived distinctive value of BSCF). Blockchain attributes help solve information asymmetry problems and enhance financing performance in two ways: one is supporting transparency, traceability and verification of transmissions and the other entails facilitating a transformation to new business models. Originality/value This research applies a new perspective based on expectancy theory to study how cognitive factors affect Fintech companies' blockchain solutions under a given supply chain operation or financing activity. It explains the behavioral antecedents for applying blockchain technology, the situations appropriate for the different roles of blockchain technology and the profiles for realizing the value of blockchain technology.
Abstract Although the decentralization and traceability features of blockchain technology are crucial for fostering closedâloop production, there are numerous obstacles and insufficient incentives for its implementation. This paper constructs the analysis framework of blockchain adoption and application in closedâloop production, including four parts: blockchain adoption incentive contract, condition analysis of blockchain application, revenue analysis of blockchain application, and information screening analysis of blockchain application. It is found that the adoption incentive contract is an important driving force to promote manufacturer to apply blockchain technology, and the manufacturer needs to pay information rent to the consumer under information asymmetry. The manufacturer can obtain consumer traceability preference and realize information screening between the manufacturer and consumer. Consumer traceability preference for new products can better promote traceable information technology level and closedâloop revenue. This research is of great significance in promoting sustainable closedâloop production.
This study presents an environmental, social, and governance (ESG) strategic model to manage pharmaceutical supply chains with financial obstacles. ESG environmental, social, and governance research can help managers make informed decisions so that managers can better choose the corresponding operating strategies, pay attention to environmental protection, and actively fulfill social responsibilities. We consider matching strategies between manufacturers and retailers by classifying them into no matching, decentralized matching, and centralized matching strategies between manufacturers and retailers. Under the matching strategy, we consider the decentralized ESG operation strategy and centralized ESG operation strategy, divide the decentralized ESG strategy into a supplier-dominant mode (SD), manufacturer-dominant mode (MD), and retailer-dominant mode (RD), and study the optimal decision-making methods of supply chain members in different modes. The innovation of this study lies in (1) considering financing constraints; (2) the impact of indicators on society and the environment; (3) no matching strategy, decentralized matching strategy, and considerations of centralized matching strategy; (4) decentralized and centralized strategies under relevant ESG indicators to improve the accuracy of the model; (5) the decentralized ESG operation strategy is divided into a supplier-dominant mode (SD), manufacturer-dominant mode (MD), and retailer- dominant mode (RD); and (6) Applying the ESG strategy to Pharmaceutical supply chain Management. The different models are compared and analyzed to find the equilibrium strategy and the optimal solution under different models. Through various analysis, we found that integrating a pharmaceutical supply chain and the ESG governance strategy can effectively promote the innovation of the industrial chain supply chain. A supply chain matching strategy is more effective in managing a supply chain than a no-matching strategy and can improve the financing efficiency of capital-constrained manufacturers. In the matching strategy, centralized matching can better attract consumers who prefer green and âdouble carbonâ products than decentralized matching. Under the lower level of green investment, the centralized ESG governance strategy can better contribute to developing the pharmaceutical supply chain.
With the development of communication infrastructure, the design of supply chains has changed significantly. Blockchain technology, as one of the most cutting-edge technologies, can promote transparency among members of the supply chain network. To the best of our knowledge, this is the first study that tries to develop a novel bi-objective optimization model to integrate the transparency resulting from the use of blockchain for designing a three-level supply chain network. The first objective function is to minimize total cost while the second objective function seeks to maximize transparency based on the application of blockchain technology. Moreover, it is worth noting that it is the first attempt to investigate the role of a blockchain model under stochastic conditions. The bi-objectiveness and stochastic nature of the proposed model are then treated using Fuzzy Goal Programming (FGP) and Chance-Constrained programming (CCP) approaches, respectively. To tackle the problem, an improved Branch and Efficiency (B&E) algorithm is developed by incorporating transparency along with cost and service. The impacts of blockchain exclusively through transparency (Case 1) or through transparency, cost, and benefits (Case 2) in Supply Chain Design (SCD) are compared. The results demonstrated that the first case has less computational complexity and better scalability, while the second case has more transparency, less congestion, and more security. As one of the main implications, supply chain managers who are focused on cost minimization as well as transparency maximization are advised to take into account the trade-off between featuring costs and benefits of blockchain technology.
JungâFa Tsai, Dinh-Hieu Tran, Phi-Hung Nguyen, Ming-Hua Lin
Blockchain technology is emerging and has high potential to improve and transform the agricultural supply chain. This study investigates the critical barriers to blockchain technology adoption in the Vietnamese agricultural supply chain using a novel interval-valued hesitant fuzzy Decision-Making Trial and Evaluation Laboratory (IVHF-DEMATEL) approach. The IVHF-DEMATEL technique is applied to identify cause-and-effect relationships and draw the influence-relations map of the barriers. In contrast to prior work, which converts fuzzy sets into crisp sets and then uses crisp set operations, this study is the first study to investigate the Vietnamese agricultural supply chain that uses fully hesitant fuzzy operations representing expertsâ assessment without information loss during the conversion. Our results show that âlack of government regulationâ, âlack of scalability and system speedâ, âa large amount of resource and capital requirementsâ, and âlack of trust among agro-stakeholder or public perceptionâ are the main barriers. Consistent with previous studies, âlack of government regulationâ is the most significant barrier. The results also indicate the hesitant degree of each barrier and better inform decision-makers about uncertain situations. Moreover, a priority order for tackling barriers is proposed to accelerate blockchain adoption in the Vietnamese agricultural supply chain.
Blockchain technology has gained significant attention for its potential to transform various industries, including supply chain management. In the context of integrated green supply chain management in China, this conceptual study explores the implications and potential benefits of blockchain technology. The study focuses on key aspects such as traceability and transparency, carbon footprint reduction and emissions tracking, smart contracts and automated compliance, and stakeholder collaboration and trust-building. Additionally, the study discusses the challenges and barriers to the implementation of blockchain in green supply chains, including technological challenges, legal and regulatory considerations, and adoption barriers. Future research directions, including empirical studies, comparative analysis, and policy implications, are also highlighted. The findings of this study provide valuable insights into the potential impact of blockchain technology on integrated green supply chain management in China.
Matthew Quayson, Chunguang Bai, Lihua Sun, Joseph Sarkis
Abstract Globally, firms face increasing pressure to efficiently utilize resources and minimize costs and may do so through sustainable supply chains and circular economy practices. Emerging technologies, such as blockchain, to enable a circular economy have become a new industrial paradigm. However, firms require building dynamic capabilities through blockchain, which can be key to realizing circular economy model. This study introduces a framework for building blockchainâdriven dynamic capabilities for a circular supply chain. We further use the Decision Making Trial and Evaluation Laboratory (DEMATEL) method to evaluate three major dynamic capabilities and 18 subâdynamic capabilities and their interrelationships. The mining industry in Ghana sets the stage for this analysis. The study results show that although blockchainâdriven sensing dynamic capability, seizing dynamic capability, and reconfiguring dynamic capability are crucial for developing a circular supply chain, they do not strictly follow a sequence and overlap. We highlight various causeâeffect relationships, providing insights into the role of sensing, seizing, and reconfiguring dynamic capabilities. That information is important to firms, stakeholders, and partners to draft an appropriate strategy to build blockchainâdriven dynamic capabilities for developing a circular supply chain.
Abstract The fashion industry is the fourth biggest industry globally, with a value of $3 trillion and a workforce of 3384 million. However, the rapid development of the fashion industry negatively impacts the environment. With industrial practice, blockchain technology is found to be efficient and effective in helping fashion supply chain members cope with sustainability issues with accessibility, security, traceability, and transparency. This paper makes a systematic literature review and inâdepth exploration of adopting blockchain technology to facilitate sustainable supply chain practices with a particular case study on the fashion industry in coastal areas and a discussion of the application of blockchain technology in the global fashion industry. Based on the combination of the literature review, the case study, and the discussion, managerial insights are generated concerning blockchain adoption for boosting sustainability in the fashion industry in various domains. Future research opportunities are also discussed.
Jasur Salikhov, Saidjahon Hayrutdinov, Timur Muminov
The objective of this study is to establish an efficient contractual coordination model for advancing the supply chain (SC) towards sustainability with blockchain technology. The problem of SC unsold product remanufacturing is investigated under the influence of efforts on recovery quality and information sharing within blockchain technology. Firstly, a functional model describes how the recovery quality affected by the added effort and demand of the remanufactured products is affected by the price. Secondly, the downstream SC faced market uncertainty with consumer sensitivity analyzed, and the SC information-sharing systems were reconsidered in order to improve consumer satisfaction. Then, under the conditions of information sharing and recovery quality efforts, the decentralized SC decision-making mode is discussed. The above demonstrates that the SC unsold products remanufacturing under the decentralized decision-making mode cannot be coordinated. To prove the efficiency of unsold products remanufacturing we investigated the centralized SC mode as a benchmark, which is known as the most efficient system. Finally, in order to effectively coordinate the whole chain, a mechanism of âcost and revenue sharingâ is proposed, and the constraints of supplierâs choice of remanufacturing are given. The results show that the âcost and revenue sharingâ mechanism can effectively coordinate the SC and the expected profits of downstream and upstream will be in winâwin condition. Moreover, the âcost and revenue sharingâ mechanism in a sustainable SC unsold product remanufacturing essentially builds an incentive among members to improve the efficiency of existing resource usage and the environmental implications.
Agricultural commodity supply chains are characterised by the involvement of multiple intermediaries, lack of access to finance and poor financial conditions of farmers. Additionally, there exist numerous inefficiencies and a lack of transparency in the trading processes. Blockchain-enabled supply chain finance (SCF) solutions can potentially help to overcome these problems. However, there is limited research on the process of developing and implementing such solutions and the potential consequences of their implementation. In this paper, we apply the Context-Intervention-Mechanism-Outcome (CIMO) framework to systematically analyse case studies of four firms that have developed blockchain-enabled SCF solutions in agricultural commodity supply chains. The findings show that blockchain-enabled SCF solutions can reduce different types of transaction costs such as costs associated with information search, negotiation and contracting costs, and costs of accessing finance. The solutions designed with the core objective of improving the financial conditions of farmers will differ from those with the core objective of reducing process inefficiencies. The findings of the study will benefit companies planning to develop and implement blockchain-enabled SCF solutions, by highlighting operational challenges and offering concrete solutions on how they can be overcome.
Aayushi Badhwar, Saniyat Islam, Caroline Swee Lin Tan
Blockchain Technology has shown tremendous potential to be a foundation for the currently shifting paradigm towards more traceable and transparent supply chains. This review highlights the opportunities that exist in adapting Blockchain Technology in the fashion and textile supply chain, while also providing insight into the challenges of adopting this technology. This paper provides a systematic review of the potential of Blockchain Technology within the fashion and textile industryâs supply chain to analyse its role in traceability, transparency, and product authenticity. To achieve this, a substantive number of research papers and non-scholarly resources have been scrutinised. An emphasis was placed on topics regarding Blockchain Technology (BT), the fashion and textile industry and supply chain (manufacturing and distribution), traceability, transparency, and product authenticity. The selected research papers range from empirical analysis, argumentative, case studies, opinion articles, review articles, short reports, and book chapters.
A vibrant debate has been initiated around the potential adoption of blockchain technology for enhancing the development of industrial symbiosis networks, particularly for promoting the creation of additive symbiotic networks. Despite the potential benefits of trust creation and elimination of intermediary entities, adopting such innovative technologies promises to disrupt the current supply chains of those symbiotic networks. The literature on these topics is still beginning; thus, the present research intends to contribute. A framework for understanding the implications of adopting the blockchain technology in the supply chain structure (specifically, in the dependency dimension) of an additive symbiotic network was developed, considering a network theory lens. The case study method was deemed to be suitable for carrying out this research. A case study related to an additive symbiotic network is described in detail, with the development of two scenarios: scenario I âas-isâ for the current state of the network and scenario II âto-beâ considering the adoption of the blockchain technology. Results show that adopting blockchain technology impacts the supply chain structure of additive symbiotic networks. More specifically, there are implications for the power distribution among the networkâs stakeholders.
At present, environmental and competitive pressures urge enterprises to engage in research and development (R&D) of green products, and a green supply chain has become the main trend in the sustainable development of enterprises. This study analyzes the optimal operation decisions of a green supply chain for two manufacturers under different competitive and cooperative relationships, considering factors such as government subsidies, consumer green preferences, and the impact of the green information trust. The results show that government subsidies can lead to higher social welfare when manufacturers have a cooperative relationship, but the optimal choice of subsidies (for R&D costs or product production costs) depends on the level of competition and the difficulty of R&D. For the manufacturers, the optimal choice of R&D strategy (individual or joint) and the use of blockchain technology also depends on the level of difficulty of R&D and the type of government subsidies. Overall, this study highlights the importance of considering various factors when making decisions in a green supply chain to achieve the best outcomes for all parties involved.
Shahbaz Khan, Mohd Imran Khan, Rubee Singh GLA University, mathura
Blockchain is an emerging technology that can transform many sectors in the age of digitization. By adding more transparency to the transitions of information and physical items, blockchain is considered a disruptive innovation that has the power to alter conventional supply chain activities. In these circumstances, blockchain technology must also be implemented in the supply chain. While implementing blockchain technology, supply chain partners face a number of barriers. As a result, the main goal of this research is to explore the prime barriers to the adoption of blockchain technology in the supply chain. In order to achieve these goals, we reviewed the literature and sought the advice of industry experts to identify the 10 main barriers to the adoption of blockchain technology. Further, the DEMATEL approach is used to categorize the finalized barriers into influential and influenced groups. The finding of this study suggests that âinfluential groupâ barriers demand more attention from the supply chain partners to minimize these barriers. The top influencing factors are âunwillingness of information sharingâ, âlack of trust among SC partnersâ and âlack of technological advancementâ and these barriers demand quick attention from supply chain stakeholders. This study looks into the barriers that stand in the way of effectively implementing blockchain in the supply chain, which will help managers do so.
Most private permissioned blockchains in business enterprises are still in the sandbox stage, with troubles of interoperability and resource limits looming large. This structured literature review reports a current inventory of barriers to blockchain use, categorized by the largest sources of friction. In a review of 1,166 recent articles, filtering for those specifically reporting on the challenges of blockchain use in supply chains left 76 for detailed analysis. The challenges reported are clustered around four themes: (1) technical, (2) financial, (3) business ecosystem, and (4) social/cultural/regulatory, with the last two themes as prevalent as technical and financial ones. We discuss why not all industries, organizations, and locales may be ripe for blockchain use. Under specific circumstances, the value of chained data helps nudge participant, industry, and regulator coordination, critical for successful blockchain use.
The main purpose of supply chain systems based on blockchain technology is to take advantage of technology innovations to ensure that a tracked asset's audit trail is immutable. However, the challenge lies in tracking the asset among different blockchain-based supply chain systems. The model proposed in this paper has been designed to overcome the identified challenges. Specifically, the proposed model enables: (1) the asset to be tracked among different blockchain-based supply-chain systems; (2) the tracked asset's supply chain to be cryptographically verified; (3) a tracked asset to be defined in a standardized format; and (4) a tracked asset to be described with several different standardized formats. Thus, the model provides a great advantage in terms of interoperability between different blockchain-driven supply chains over other models in the literature, which will need to replicate the information in each blockchain platform they operate with, while giving flexibility to the platforms that make use of it and maintain the scalability of those logistic platforms. This work aims to examine the application of the proposed model from an operational point of view, in a scenario within the pharmaceutical sector.