Blockchain and supply chain relations: A transaction cost theory perspective

Schmidt, Christoph G.; Wagner, Stephan M.

doi:10.1016/j.pursup.2019.100552

Cited by 459 publications

(410 citation statements)

References 86 publications

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“…BCT can be applied to different areas based on the purposes (Yli-Huumo et al, 2016). Many researchers have discussed different applications; for example, Feng (2017), Li et al (2017), Saberi et al (2019) and Schmidt and Wagner (2019) discussed applying BCT in SC traceability, and SC integration, among other applications, while Bocek et al (2017) and Min (2019) discussed applying BCT for compliance with quality standards and digitalization. Furthermore, Lee and Pilkington (2017), O'Leary (2017) suggested using BCT in supply chain finance (SCF).…”

Section: Blockchain Technology Applications In Supply Chain Managementmentioning

confidence: 99%

“…Moreover, with smart contracts, used in a fully operating digital environment, there is a possibility of creating algorithms that can be partially or fully executed, or enforced, when certain conditions occur without human interaction. These algorithms drive SC integration into a higher level of efficiency and control than current systems can provide (Li et al, 2017;Schmidt and Wagner, 2019).…”

Section: Supply Chain Integration Through Smart Contractsmentioning

confidence: 99%

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A Framework for Exploring Blockchain Technology in Supply Chain Management

Batwa

Norrman

2020

OSCM: An Int. Journal

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The purpose of the study is to identify and explore different applications of blockchain technology in supply chain management and suggest a framework for their analysis. The study addresses researchers' conflicting opinions regarding the hype of blockchain and clarifies which minor applications are hyped and which are currently more applicable. That helps supply chain practitioners appraise the different applications of blockchains before it is too late to revise a decision regarding their use. The framework was developed based on a systematic literature review of blockchain-related articles, and it was examined with semi-structured interviews with four companies that applied the technology. Findings from the study suggested that traceability and supply chain finance seemed to be the most applicable applications of blockchain technology in supply chain management. But, light was also shed on other applications such as: compliance with standards, supply chain integration and digitalization of the transactions. This study was restricted by the availability of applied cases, as blockchain remains an emerging technology. Therefore, this study cannot be considered a case research, but a literature review followed by a limited number of interviews. However, the study resulted in a conceptual framework that forms the basis for further exploratory studies with more empirical data.

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Section: Blockchain Technology Applications In Supply Chain Managementmentioning

confidence: 99%

Section: Supply Chain Integration Through Smart Contractsmentioning

confidence: 99%

A Framework for Exploring Blockchain Technology in Supply Chain Management

Batwa

Norrman

2020

OSCM: An Int. Journal

View full text Add to dashboard Cite

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“…(1) Blockchain alters transaction costs and affects firm boundaries by using smart contracts [46] (2) Blockchain potentially involves a reduction in transactions costs, as well as a more market-oriented governance structure for buyer-supplier transactions by the limitation of opportunistic behavior, as well as the uncertainty of environment and behavior [47] (3) Blockchain technology has the potential to reduce or even avoid cost, and thereby define nine effects of blockchains on supply chain transactions under the three enablers: transparency, trust and disintermediation [48] How does the blockchain change transaction costs? How can the transaction costs of organizational structure be reduced through blockchain applications?…”

Section: Transaction Cost Analysismentioning

confidence: 99%

“…From a blockchain perspective, eight articles specifically use transaction costs analysis as a foundation to investigate blockchain technology in LSCM. For example, Schmidt and Wagner [47] investigate the potential of blockchain to reduce transaction costs. Having generated six theses, they conclude that blockchain potentially involves a reduction in transactions costs, as well as a more market-oriented governance structure for buyer-supplier transactions by the limitation of opportunistic behavior as well as uncertainty of environment and behavior.…”

Section: Transaction Cost Analysismentioning

confidence: 99%

A Systematic Review of Blockchain Literature in Logistics and Supply Chain Management: Identifying Research Questions and Future Directions

et al. 2020

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Potential blockchain applications in logistics and transport (LSCM) have gained increasing attention within both academia and industry. However, as a field in its infancy, blockchain research often lacks theoretical foundations, and it is not clear which and to what extent organizational theories are used to investigate blockchain technology in the field of LSCM. In response, based upon a systematic literature review, this paper: (a) identifies the most relevant organizational theories used in blockchain literature in the context of LSCM; and (b) examines the content of the identified organizational theories to formulate relevant research questions for investigating blockchain technology in LSCM. Our results show that blockchain literature in LSCM is based around six organizational theories, namely: agency theory, information theory, institutional theory, network theory, the resource-based view and transaction cost analysis. We also present how these theories can be used to examine specific blockchain problems by identifying blockchain-specific research questions that are worthy of investigation.

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“…The current curriculum may focus on new features or innovations in blockchain technology, but it certainly requires time and resources. [15] An example of effective use of blockchain technology in logistics/SCP is food security. According to annual estimates of diseases recorded by the world health organization, one in ten people get sick worldwide, and about 20,000 people die as a result of contaminated food.…”

Section: Stage 4 Hash Each Verified Transaction Block Is Chronologicmentioning

confidence: 99%

Digital Technologies in Supply Chain Management in Production

et al. 2020

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The article discusses the prospect of using digital technologies in supply chain management, as well as the main trends and features of the development of supply chain management at the plant. The article deals with issues related to the integration of blockchain technologies in the field of logistics and supply chain management. The article suggests using blockchain information technologies to optimize supply chain management processes in the context of enterprise virtualization and digital economy development. The study revealed the advantages of this approach over traditional business management technologies and logistics systems. The prospects for using blockchain technology in logistics and supply chain management are also analyzed.

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Blockchain and supply chain relations: A transaction cost theory perspective

Cited by 459 publications

References 86 publications

A Framework for Exploring Blockchain Technology in Supply Chain Management

A Framework for Exploring Blockchain Technology in Supply Chain Management

A Systematic Review of Blockchain Literature in Logistics and Supply Chain Management: Identifying Research Questions and Future Directions

Digital Technologies in Supply Chain Management in Production

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