Critical success factors for implementing blockchain‐based circular supply chain

Abstract

The growing importance of the circular economy has emphasised optimal utilisation of resources within the constraints of economic development and protection of the environment. Digital technologies associated with Industry 4.0, such as blockchain, facilitate the implementation of circular economy principles throughout the supply chain. However, because blockchain implementation in the supply chain is still in the early stages, real‐world examples of the blockchain‐based circular supply chains (CSCs) are limited. The principal purpose of the paper is to examine the critical success factors (CSFs) for implementing blockchain‐based CSCs. Following that, 10 CSFs are identified through a short systematic literature review, and then, the integrated fuzzy cognitive mapping and fuzzy best‐worst method (FCM‐FBWM) is implemented to examine CSFs for the blockchain‐based CSC. The study's main findings demonstrate that network collaboration is the best CSF, while the shared circular economy toolbox is counted worst of all. This research enriches the literature by identifying the CSFs for implementing blockchain‐enabled CSCs to address the lack of a suitable decision‐making framework that assists managers in comprehending how blockchain technology can be adopted in the circular economy context. Implications for theory and practice are also discussed, offering new insights into the measures necessary to ensure successful blockchain implementations in CSCs.

Blockchain technology in supply chain management: an organizational theoretic overview and research agenda

“…to be the factors that favour pilot development projects in case of BT implementation in SC. Kayikci et al (2022aKayikci et al ( , 2022b in their review paper reported that under the umbrella of PPT (people, process, and technology), there were clear opportunities and impediments in case of people and technology. Massive benefits that arose out of implementing BT in SC especially in Food SC outweighed the risks.…”

Critical Success Factors Evaluation for Blockchain’s Adoption and Implementing

“…Furthermore, Yadav and Singh proposed an incorporated principal component analysis and Fuzzy-DEMATEL to study the use of blockchain technology in sustainable supply-chain management [19]. In addition, Kayikci et al examined CSFs for blockchain-based circular supply chains (CSCs) through a short systematic literature review and using the integrated fuzzy cognitive mapping and fuzzy best-worst method (FCM-FBWM) [20]. Finally, Elhidaoui et al proposed a conceptual framework of a green supply-chain management (GSCM) model to investigate the critical success factors (CSFs) of blockchain-technology (BCT) adoption in green supply-chain management [21].…”

Leading factors for blockchain technology implementation in the business organisations in the Bulgarian context

“…Among the leading studies looking at the impact of implementing the BCT factors is the publication of Kayikci et al (2022), oriented in the circular economy, presenting a model for identifying critical success factors. The authors also emphasise the need for cooperation and the strengthening of supply chains.…”