Blockchain Driven Supply Chain Management

Emerging information technologies are making a powerful impact by challenging traditional business methods. Companies are adopting these technologies to make their supply chains more efficient and effective while making their business more profitable. Blockchain is no exception when it comes to the technological revolution helping businesses to be more transparent and better connected whilst enhancing the safety and security of operations. The world came to know Blockchain as a decentralised and distributed ledger system for financial transactions that became the foundation for Cryptocurrencies. However, its applications are not only limited to payment management. Researchers have also been exploring Blockchain’s potential for disrupting supply chains to make them resilient and agile, improve visibility and transparency, mitigate bullwhips, and improve supply chain coordination between suppliers and manufacturers (e.g., increased efficiency and speed). In this book chapter, we review the current literature and reports from international peer-reviewed journals and independent consulting firms and articulate a comprehensive standing of blockchain technology in contractual processes.

Furthermore, we highlight the impact of Blockchain-enabled smart contracts in supply chain design and outline opportunities and certain caveats by presenting a SWOT analysis. Finally, we map the architecture of contractual processes within a supply chain to highlight the critical differences between traditional and Blockchain-enabled business progressions. This chapter can help businesses in understanding how Blockchain can improve their contractual processes and make procurement and payments a swift transaction.

Contemporary research is underway to explore the potential applications of block chain technologies in the various facets of supply chain management (SCM) e.g., planning, distribution, sustainability etc. However, most of these applications regard the collaboration between supply chain (SC) partners as essential for generating the advantages of embracing such block chain technologies (BCT). While there is a lot of research on the technologies, their applications, and the resulting advantages; there is a paucity of discussion about the way the SC partners need to collaborate to facilitate the desired applications of these technologies. This chapter focuses on understanding the relevance of the antecedents of the SCC in the era of BCT and highlights the opportunities and challenges for BCT implementation in SC networks. It reviews some of the key antecedents of SCC considering the BCT implementation and explains how SC partners may leverage these technologies for enhancing the collaborative advantage in the network.

At the time of Covid 19 pandemic, one of the major issues that businesses started facing was poor supply chain resilience. Many firms could not survive due to the poor response of their supply chains and even more struggled hard to keep their supply chains floating. Researchers & managers started arguing that implementation of blockchain technologies to manage supply chains, blockchain based supply chain (BCSCM), could be one of the viable solutions make supply chain network resilient. In this context there is void of scholastic literature clarifying as to how it improves SC resilience directly and through other essential strategies like SC mapping. Against this backdrop, present study aims to explain the influence of blockchain driven supply chain on supply chain resilience. This study recommends policy makers to infuse the BC technology in upgrading the supply chains to make them resilient. It will improve the integration among the three streams of supply chain (upstream, midstream, and downstream) which in turn can enhance SC resilience. Analysing the influence of BCSCM directly is one of the prime contributions of this study. The findings of the study provide key guidelines to improve the supply chain resilience of the firms.

Block chain technology (BCT) has the potential to combine all supply chain activities in a short period of time. It has the capability to enhance the decision power of demand forecasting and management, resulting in more realistic supply and inventory management. Additionally, block chain technology may allow the sharing and use of all design-related documents. Block chain technology has the advantage to significantly enhance supply chains by allowing quicker and more cost-effective delivery of items, increasing product traceability, improving coordination among participants and facilitating access to funding. BCT allows all participants involved in a particular supply chain to have access to the same information, which has the potential to reduce communication or data transfer mistakes. As a result, less hours may be spent confirming data and more time on providing products and services, which can either improve quality or lower costs, or both. Supply chain management highlights the management of materials and its kinds as well as facts through the whole chain from producers to distributors, suppliers, retailers, and end consumers. BCT helps reducing the time to reach these entities in a very short span of time, which ultimately slashes costs and strengthen the relationship among them.

Blockchain is a technology connecting numerous players of a system in a seamless manner. Being technology-driven, its adoption is inhibited when employees in the organization do not consider them fit for it. To make the employees ready to accept the change, leaders have to adopt transformational leadership. Using transformational leadership, organizations can provide the vision to employees to pursue the adoption of blockchain technology. Additionally, through transformational leadership, organizations can address individual roadblocks hampering adoption of blockchain. Finally, employees may be provided with the required motivation to go for blockchain. Once blockchain has been adopted, organizations need to make themselves more inclusive and employee-centered as blockchain makes information more easily available, the leadership has to become more employee-centered. In this regard, the tenets of servant leadership are of great use.

The emerging trends in blockchain-driven supply chain management (BCSCM) have gained popularity among practitioners in recent years. The growing scholarly interest in this discipline has unveiled various supply chain management practices; however, there is an implicit gap concerning exploring the role of contextual factors that influence the blockchain-driven supply chain. The current chapter contributes to the literature by investigating the impact of leadership on blockchain that would radically improve supply chain management. In this chapter, we review the extant literature on the linkages among leadership, blockchain, and supply chain management. Over and above, the main objective is to understand the mechanism that how businesses may successfully introduce and integrate blockchain technology into the management of their supply networks through the role of leadership.

This chapter aims to demonstrate how implementation of blockchain-driven supply chain can improve traceability in the food supply. The five cases included in this chapter, three from a South Asian country and two from Europe, elaborate chapter’s central argument. Even though the supply in European countries is well regulated and documented but still faces legal issues like counterfeit products and undisclosed product ingredients. The situation is worst in South Asian countries, where traceability of information from the point of origin to the selling point is even more difficult. Such non-traceability results in ethical and legal issues, other than customer trust issues. Authors suggest that block chain-driven-supply chain could be the ultimate solution to traceability issues in the food supply chain. Information processing theory operates at the backend to support the notion of traceability. Finally, a food supply chain model via blockchain technology is proposed to handle the issue of traceability.

The aim of this chapter is to investigate mechanisms for improving supply chain open innovation networks (SCOINET) while improving capabilities. In doing so, we explore the determinants to improve SCOINET. These determinants come under the umbrella of two types of capabilities related to technology being employed and interactions happening in SCOINET. By applying a twofold research method, this study employs the analytical hierarchical process (AHP) and interpretive structural modelling (ISM). In doing so, AHP is applied to prioritize and rank the capabilities with respect to their relevance for improving SCOINET. The prioritized technological capabilities are technological capacity and technological orientation, while the interactive capabilities are digital trust and relational capital. Moreover, the ISM technique is applied to ascertain the interactions and interdependencies of these capabilities. As a result of this study, a framework is developed to facilitate collaborations and functioning of SCOINET to make them integrated, visible, and resilient. This framework guides policy makers to develop open innovation networks not only for the supply chain but also for other functions. This is the first ever study to present capability framework for SCOINET. Finally, researchers are provided with directions to conduct further research related to SCOINET.

Advanced networking systems among consumers, goods, and value imposing major challenges for industries. Which comprises a change in consumers’ outlooks and forces on producing low-cost merchandise, arrangement, and supply chain. These changes demand advancements concerning businesses to adapt to modern system by encouraging and embracing advanced and innovative solutions for the challenges. Which highlights the overall modification of industries which is described as ‘industries 4.0′, which enforces the need for digital technologies, networking in industries, and associated practices. The blockchain technological domain is strongly incorporated by industries over the years. The usefulness of blockchain is not only accepted for the monetary sector but at the same time proven highly effective for supply chain management as well. Blockchain is an advanced technological domain that refines overall efficacy, transparency, and unambiguity. Currently, logistics and supply change are highly persuaded by the innovativeness, latest technological aspects, change in processes, and competitively that enhance challenges, which demands change and applying technological aspects for the modern supply chain as a multilevel system.

The majority of the environmental and climatic issues emerge due to the massive production and consumption of products that ultimately compromise human and wild lives and the future interests of generations. Sustainable supply chain management emerges as a strategic way to address these misfortunes, the implementation of which is a bit challenging but adaptable. Therefore, this chapter addresses the implementation of blockchain supply chains to attain supply chain sustainability. The chapter starts with the introduction, emergence, and growth of blockchain technology and also covers the definitions of blockchain technology. Besides this, it also provides an in-depth understanding of blockchain-driven supply chains and how these (BCSCM) can be used to attain sustainable supply chains. It also examines the basic characteristics and types of blockchain-driven supply chains and the role of blockchain supply chains in present scenarios and the context of COVID-19. This chapter also discusses how the integration of blockchain supply chains can be used to achieve sustainable supply chain performance. It also examines the enablers and barriers in the implementation of blockchain supply chains in achieving sustainable supply chains. The types and advantages of blockchain supply chains are also part of this chapter. Moreover, the role of blockchain supply chains in forecasting future production and reducing waste in production and distribution is also discussed. Finally, future aspects like blockchain supply chain opportunities, security, traceability, and visibility of blockchain supply chains were also evaluated. This study implies that SCM managers can achieve supply chain sustainability through the incorporation of blockchain-driven supply chains in their business operations. Further, the managers can make strategic decisions while keeping the barriers and drives discussed in this chapter. Lastly, the conclusion and future research perspectives were provided.

Supply chain sustainability (SCS) has recently emerged, and measuring its maturity is important. Triple bottom line (TBL) is considered one of the established measures of SCS. TBL consists of three bottom lines such as environmental, social, and economic, which include three measures commonly known as the three Ps: people, planet, and profit. Adopting sustainability practices is considered key to the success of green firms, but at the same time, they face various risks associated with SCS dimensions, such as upstream, midstream, and downstream risks. These risks not only disrupt the sustainable supply chains but also leave an adverse impact on TBL’s performance. Firms require accurate and timely information sharing among supply chain partners to mitigate SCS-related risks. At the same time, it has been observed that firms are reluctant to share information mainly due to trust issues. Therefore, this paper throws light on Blockchain technology (BT), as it resolves trust issues among supply chain partners by offering transparency, reliability, flexibility, security, openness, and neutrality. This paper comprehensively presents how BT securely shares relevant information with the supply chain partners and enhances a few parameters of supply chains, such as supply chain integration, supply chain adaptability, supply chain visibility, and supply chain agility. The paper encapsulates the adoption of BT in managing SCS-related risks and improving TBL performance. The paper summarizes the new trends in sustainable supply chains and challenges in adopting BT and provides future research directions.

The importance of adopting sustainable practices in a supply chain to minimize the negative impact on the environment is widely recognized. The growing influence of climate change and consumer awareness has forced industries to develop innovative sustainable practices. Supply chain planners and managers are searching for and incorporating green practices that are not harmful to society and the environment. The developments in information technology have facilitated in implementation of such practices. Applying new tools like Blockchain technology has enabled improved controlled processes and traceability in the supply chain. It enables tracking and tracing of the movement of goods within sustainability guidelines, and any deviation can be noted in real-time. Likewise, it allows a clear view of downstream and upstream supply chains, ensuring sustainable practices are implemented, and no harm is done to the environment. Despite these benefits, the implementation of Blockchain technology is a challenging endeavour. A blockchain-driven supply chain requires diverse skills, structural changes, human resources management, and increased collaboration among supply chain partners. This makes adoption challenging with a high probability of failure. The supply chain managers seek guidance in overcoming this challenge. The intellectual capital offers a distinctive set of valuable tools for developing a blockchain-driven sustainable supply chain. The elements of intellectual capital, human, relational, and structural, provide a unique platform to facilitate the implementation. Drawn from it, this paper proposes a framework for developing a blockchain-driven sustainable supply chain by incorporating intellectual capital. The unique role of each element of intellectual capital is highlighted, followed by a detailed analysis of the contribution of each component. The framework provides guidance for supply chain managers and planners in developing an environment-friendly sustainable supply chain.

Supply chain networks present new business and financial prospects due to emerging technologies under industry 4.0. In order to advance supply chains toward sustainability, this study will give a general introduction to industry 4.0 (I4.0) and blockchain technology. Blockchain-driven supply chain management (Bscm) fundamentally alters conventional supply chain paradigms by establishing a shared, decentralized public ledger. When connected with Bscm, Industry 4.0 is more effective at constructing a stable and robust supply chain. It can manage multiple Bscm components, including product tracking, payments, database administration, and security. Nevertheless, blockchain and I4.0 technologies present implementation and security difficulties. The solution to these challenges could allow Bscm and I4.0 to improve industrial management systems. This chapter provides an overview of industry 4.0 and related technologies. We focus on the significance of I4.0 technologies in Bscm and their challenges and prospects. Finally, we outline obstacles that may give rise to future areas of study in BSC and I4.0.

Increased complexity in supply chain networks has led to difficulties in managing ever-increasing uncertainties in the supply chain. The disruptions caused by unforeseen circumstances adversely affect firms’ performance and business continuity, which is a cause of concern for supply chain managers and planners. A supply chain that is resilient to overcome these uncertainties while providing visibility, transparency, and traceability is required. However, developing such a supply chain has been challenging due to the dynamic nature of unforeseen events. One of the tools that have shown potential to offer developing such resiliency is Blockchain technology. However, implementing blockchain technology is challenging since it requires significant organizational structure, processes, and human resources management changes. Intellectual capital could be an effective tool for a firm to adopt a blockchain-driven supply chain resilience since it encompasses structural capital, relational capital & human capital as its major components, which could facilitate the implementation of blockchain technology. To assist supply chain planners in supply implementing blockchain for resiliency, this paper proposes a framework for developing a blockchain-driven resilient supply chain by incorporating intellectual capital. It demonstrates how the components of intellectual capital can influence blockchain technology for developing a resilient supply chain of a firm and assist supply chain planners in overcoming the challenges.

Digital advancements and disruptive technologies play a key role in transforming inefficient business models. The advent of blockchain technology is improving business operations and providing innovative solutions to organizations on various contemporary issues. This chapter critically reviews the marketing, supply chain management, and blockchain literature and analyzes how businesses can benefit from a blockchain-driven supply chain. We also discuss the application of blockchain technology in marketing and how it could disrupt the marketing mix and processes. We understand that a blockchain-driven supply chain can help marketers in forecasting customer demands, enhances the traceability and transparency of transactions, improve customer trust, and reduce transaction risks. Finally, we discuss limitations and future research directions.

Using blockchain-based technologies for supply chain management, this study examines the digital economy and digital industry in terms of their interactions. The backbone of the digital economy is the internet (web 3), the hyperlink distributed between the internet of things and mobile devices. The digital economy can be examined in two ways: information economy and e-economy. In the foundations of the digital economy, there are elements such as the internet, electronic communication, digital automation, digital payments, social media and finally the metaverse. The digital economy is an economic activity resulting from billions of online connections between people, businesses, devices and processes. The digital economy also develops the digital finance structure. Blockchain is a candidate to be the backbone of the digitalization of production and economy, as it can provide a decentralized and reliable infrastructure at this point. Blockchain-based supply chain is rapidly being developed and spread on this platform. Although blockchain was first and effectively applied in the financial fields, the immutable nature of the ledger makes it difficult for identification, qualification, health records and insurance etc. It will come from today. It does not seem possible for sectors that cannot keep up with this rapidly changing process and are not prepared for it to exist in the future.