Blockchain technology for enhancing supply chain resilience

By Hokey Min. Business Horizons, 2019

733 citations recorded by the source corpus.

With the soaring value of bitcoin and frenzy over cryptocurrency, the blockchain technology that sparked the bitcoin revolution has received heightened attention from both practitioners and academics. Blockchain technology often causes controversies surrounding its application potential and business ramifications. The blockchain is a peer-to-peer network of information technology that keeps records of digital asset transactions using distributed ledgers that are free from control by intermediaries such as banks and governments. Thus, it can mitigate risks associated with intermediaries’ interventions, including hacking, compromised privacy, vulnerability to political turmoil, costly compliance with government rules and regulation, instability of financial institutions, and contractual disputes. This article unlocks the mystique of blockchain technology and discusses ways to leverage blockchain technology to enhance supply chain resilience in times of increased risks and uncertainty.

Subfields: Information Systems, Management Information Systems, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/e8d836dbad8ba04b19022d841ab4d910479bb94f

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Citations in the corpus

A supply chain transparency and sustainability technology appraisal model for blockchain technology (2019, background): “…2017), governance disruption (Shermin 2017), emissions trading (Khaqqi et al. 2018), information sharing (van Engelenburg, Janssen, and Klievink 2019), enhancing supply chain resilience (Min 2019), increasing sustainable performance (Kshetri 2018), and reducing carbon footprints (Liu et al. 2019).”
Analysis of resilience strategies and ripple effect in blockchain-coordinated supply chains: An agent-based simulation study (2020, background): “Our simulation results quantitively support and extend the findings of Kshetri (2018), Min (2019), Choi et al. (2019), and Ivanov et al. (2019) that argue that blockchain increases resilience especially by providing transparency, increased visibility and agility.”
Improving supply chain resilience through industry 4.0: A systematic literature review under the impressions of the COVID-19 pandemic (2021, unknown): “In an SC context, BC can be used to verify information accuracy and track assets’ locations and ownership statuses (Choi et al., 2019; Ivanov & Dolgui, 2020a; Min, 2019).”
Evaluating the factors that influence blockchain adoption in the freight logistics industry (2020, background): “Capability of human resources is also a critical factor within this context, which ensures that freight logistics professionals are skilled to ensure efficiency of blockchain technologies (Min, 2019).”
Future of industry 5.0 in society: human-centric solutions, challenges and prospective research areas (2022, background): “Future directions Cognitive computing: This application aims to stimulate the thoughts of the human in processes into a computerized model [16, 144, 145].”
A literature review of blockchain technology applications in supply chains: A comprehensive analysis of themes, methodologies and industries (2021, unknown): “At the same time, the use of smart contracts can prevent the risk of default and ensure that the trading parties fulfil their obligations (Min, 2019).”
It’s real, trust me! Establishing supply chain provenance using blockchain (2019, background): “…cryptocurrency are currently uncommon (Angelis & Ribeiro da Silva, 2019; Ghose, 2018; Halaburda, 2018; Morkunas, Paschen & Boon, 2019), this technology promises to revolutionize the way firms monitor transaction transparency across their supply chain (Casey & Wong, 2017; Gupta, 2017a; Min, 2018).”
Blockchain technology in supply chain operations: Applications, challenges and research opportunities (2020, unknown): “Being secure to ensure a minimum operational risk is hence essential for the respective blockchain based system (Min, 2019).”
Disruption risks in supply chain management: a literature review based on bibliometric analysis (2020, background): “0 (Ivanov, Dolgui, and Sokolov 2019), and blockchain (Min 2019).”
Blockchain technology for enhancing swift-trust, collaboration and resilience within a humanitarian supply chain setting (2020, methodology): “This in itself may be seen a significant contribution to the literature, as previous research efforts have clearly called for empirical validation of trust created via distributed ledger technology (Min 2019; Roeck, Sternberg, and Hofmann 2019; Dolgui et al. 2019).”