Block chain technology to improve supply chain management
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Management Informatiesystemen
Block chain technology is touted as a game-changer. Many experts consider
block chain technology as one of the disruptive innovations. Following
significant success in the banking and finance sector, block chain
technology has found significant success in all fields, including health,
manuf...
Block chain technology is touted as a game-changer. Many experts consider
block chain technology as one of the disruptive innovations. Following
significant success in the banking and finance sector, block chain
technology has found significant success in all fields, including health,
manufacturing, transportation, disaster relief operations, and many others.
Recently, the academician has contributed significantly towards
understanding block chain technology and its application in the
management field. To understand how the literature on block chain
technology in the supply chain has progressed, we undertook an extensive
review of the literature published in peer-reviewed journals using databases
such as SCOPUS. We have further classified our literature into four stages
(pre-adoption, adoption, implementation, and application). Finally, we
synthesized the findings of the study and proposed a research framework to
explain how an organization can build supply chain resilience and enhance
supply chain performance with the help of block chain technology. Finally,
we have noted the limitations of the study and future research directions.
Introduction:
Block chain Technology (BT) is a technology blessed with a decentralized
storage system that is distributed, contracts that are digital and smart and
asymmetric encryption whilst enabling visibility, transparency, traceability,
and security to a network employing BT (Dutta et al., 2020; Katsaliaki et
al., 2021). As a result of its decentralized, verifiable, and immutable
character, it has already disrupted or is on the path to disrupt a wide range
of industries/areas/sectors such as banking, copyright, energy (renewable),
healthcare, insurance, operations, real estate, and supply chains in general
(Fosso Wamba et al., 2020; Hald & Kinra, 2019; Pandey et al., 2022;
Tandon et al., 2021). The enormous potential of block chain to alter every
step of SC, from the acquisition of raw materials to the delivery to
customers, is well known (Babich & Hilary, 2020). The buzz around block
chain applications is still there, and we may be a few years away from their
commercialization, but the future of this technology is bright (Pournader et
al., 2020).
However, this study stands different from past literature by exploring and
conducting an in-depth investigation on BT adoption, implementation and
future application through a self-developed guiding framework that
specifically categorizes articles into four themes/perspectives and provides
a fresh outlook on the literature by identifying and establishing the four
distinct themes.
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