Exploring barriers to blockchain technology adoption in global supply chains

What is it about?

Supply chains play a crucial role in modern businesses, as they serve as the foundation for operational effectiveness, adaptability, and overall success. In recent decades, corporations have experienced significant growth in terms of size, geographical reach, and product portfolio diversification. As a result, supply chains have undergone a significant transformation from traditional systems that merely connect manufacturers and suppliers, to complex ecosystems that facilitate the movement of a diverse range of products through multiple intermediaries. The complex nature of these supply chains necessitates a high degree of collaboration and coordination among the various parties involved. To facilitate extensive implementation, it is imperative to develop cost-efficient and flexible solutions that can be seamlessly incorporated by organizations of diverse scales. This research enhances the current pool of knowledge by delineating sixteen discrete barriers to the effective incorporation of blockchain technology in supply chain operations. The barriers can be categorized into four distinct classifications: economic, legal, behavioral, and technical. Furthermore, the research extensively examines these barriers by classifying them as either cause or effect while also quantifying their respective levels of correlation. This research considers the inherent uncertainty linked to the process of decision-making and the interrelated nature of barriers to the adoption of blockchain technology within supply chains. To tackle this inherent uncertainty and understand the causal relations among the adoption barriers, the research utilizes a hybrid approach that combines grey systems and the DEMATEL (Decision-Making Trial and Evaluation Laboratory) methodology. The results of this study provide crucial recommendations for formulating more precise research questions that elicit valuable data regarding the reciprocal influence of these barriers on one another. The findings show that technical groups are crucial and must be mitigated first for the successful adoption of blockchain technology in large-scale global supply chains.

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