Blockchain solution for supply chains & logistics challenges : an empirical investigation

Abstract

Supply chain management (SCM) is progressing towards a more interconnected and digitized future; blockchain stands out as a key enabler for the next supply chain (SC) excellence generation. In recent years, SC industries have gradually transformed towards the next industrial revolution, and new supply chain and logistics (SCL) challenges have emerged. Rapid technological advancements have been helping the supply chains meet these emergent challenges. This study highlights the challenges SCL businesses face and proposes adopting blockchain technology. Data was collected from supply chain experts of various industries, and analysis was performed using Bayesian Best-Worst Methods (BBMW), relative importance index (RII), and causes-and-effects relationship (Ishikawa diagram). BBWM identifies the credal ranking of SCL challenges, providing probabilistic insights and minimizing biases inherent in traditional BWM. The Ishikawa diagram systematically analyzes cause-and-effect relationships, illustrating how blockchain features address multiple challenges and identify root causes. RII quantifies the perceived effectiveness of blockchain features in tackling SCL challenges. Together, these methods ensure a robust, structured presentation of findings, offering practitioners, managers, and policymakers a clear understanding of SCL challenges and blockchain capabilities. The study finds that blockchain features like transparency, real-time information sharing, and cyber-security can solve digitalization, decentralization, diversification, and decarbonization challenges.