Exploring the factors affecting the adoption of blockchain technology in the supply chain and logistic industry

Abstract

The market-changing potential of new technologies is often wider than product, business process, logistics, business processes, supply channels, or supply chain in the entire business processes are reshaped and regularly overturned. (p. 2)The third industrial revolution introduced computer-based systems and automation of processes in organisations. However, in this new age that we are living in, which is the era of fourth industrial revolution, the development of digital transformation is influencing every aspect of organisations.The study adopted a quantitative content analysis to explore the factors that affect the adoption of blockchain technology in supply chain and logistics. The study seeks to explore factors that affect the adoption of blockchain technology in supply chain and logistics. The rest of the article is structured in the following order: a literature review of the area of study, the research Background: The digitalisation phenomenon has significantly transformed and advanced the adoption of blockchain technology in organisations. The fourth industrial revolution has been the main driver of digital transformation in organisations to gain a competitive advantage in their respective industries. Therefore, studies on blockchain adoption have gained a relative pace over the recent years but there is limited literature focussing on the supply chain and logistics industry. The study fills the gap as it explored factors that affect the adoption of blockchain technology in supply chain and logistics.Objectives: The primary research objective of the study was to explore the factors that affect the adoption of blockchain technology in supply chain and logistics. The study explored the technological, organisational, and environmental factors that affect the adoption of blockchain technology in the supply chain and logistics industry. Method:The study conducted a content analysis of peer-reviewed articles published between 2013 and 2021 on the factors affecting the adoption of blockchain technology in the supply chain and logistics. The article used a quantitative study to explore factors affecting blockchain adoption using the Technology-Organisational-Environmental (TOE) framework as the theoretical lens. Conclusion:In conclusion, the study revealed that Asia, Europe, and America contribute more research on factors affecting the adoption of blockchain technology between 2013 and 2021. In addition, the results suggest that technical factors (security, complexity, and cost), organisational factors (management support), and environmental factors (competition, IT policy and regulations, and support) affect the adoption of blockchain technology in supply chain and logistics industry. The study contributes to the body of knowledge on factors affecting the adoption of blockchain technology in the supply chain and logistic industry.

Sustainability of Blockchain Technology in Supply Chains: Implications from a Critical Literature Review

“…Vendor support includes security controls, data availability, user training, and technical support [96] which can positively influence users' intention to adopt a technology [46]. [75,76,96,101,105,109,119,129,132,133,153,154] Absorptive capability (or, organizational learning capability, knowledge absorption capability) [75,114,116,123,140,141,153] Financial Resources (or, cost for obtaining and implementing blockchain, cost/monetary concerns/resources) [84,96,104,105,107,109,114,116,127,132,133,153] Firm size [105,133,141] E Competitive pressure (or, competitive intensity, competition, competitor pressure, rivalry pressure) [75,84,94,105,115,122,123,127,141,…”

A Critical Literature Review on Blockchain Technology Adoption in Supply Chains

“…Complexity [75,84,96,107,115,119,132,141,153] Relative advantage (or technology perceived benefits) including operational efficiency, security, scalability, ease of use, cost saving, trust, and trialability [74,75,84,96,101,105,107,109,[114][115][116]122,123,125,127,132,133,140,141,153] O Management Support (or higher authority/management support and internal leadership) [96,105,107,109,[114][115][116]122,123,127,153] Organizational readiness (or organizational innovativeness) including organizational structure, culture, finance, flexibility, and technology readiness (or, information technology resources) including infrastructure facility and suitable application [75,76,96,101,105,…”

Supply Chain in the Digital Age: A Scientometric–Thematic Literature Review

“…They identified five research areas that aim to better understand technological and digital developments in the retail sector. Mthimkhulu and Jokonya suggest that technical factors (security, complexity, and cost), organizational factors (management support), and environmental factors (competition, IT policy and regulations, and support) affect the adoption of blockchain technology in the supply chain and logistics industry [39]. Chen et al identify practices relating to the management of sustainable work development based on digital technology and indicate best practices [40].…”

“…One of the most attractive technologies for supply chains seems to be Blockchain technology (BCT), which can be combined with others, e.g., Digital Twin [94], IoT [92], and Artificial Intelligence (AI) [95,96]. Mthimkhulu and Jokonya study the impact of blockchain adoption in the supply chain and logistics industries [39]. Digital supply chains are not the only ones struggling with issues such as traceability, transparency, and the trust of supply chain partners.…”