IDEAS home Printed from https://ideas.repec.org/a/now/fnttom/0200000084.html
   My bibliography  Save this article

Blockchain and other Distributed Ledger Technologies in Operations

Author

Listed:
  • Babich, Volodymyr
  • Hilary, Gilles

Abstract

Blockchain is a form of distributed ledger technology (DLT) that has grown in prominence, although its full potential and possible downsides are not yet fully understood, especially with respect to Operations Management (OM). This manuscript contributes to filling in this gap. We identify three research themes in applying Blockchain technology to OM, illustrated through several applications to OM problems. Elsewhere, in a companion article (Babich and Hilary, 2018), we provide a conceptual framework for the role of Blockchain and other DLT in OM, along with specific examples of research questions, and we demonstrate how research in economics can inform research in OM on Blockchain applications. Finally, we discuss possible future uses for the technology.

Suggested Citation

  • Babich, Volodymyr & Hilary, Gilles, 2019. "Blockchain and other Distributed Ledger Technologies in Operations," Foundations and Trends(R) in Technology, Information and Operations Management, now publishers, vol. 12(2-3), pages 152-172, March.
    • Handle: RePEc:now:fnttom:0200000084
    DOI: 10.1561/0200000084
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1561/0200000084
    Download Restriction: no
    File URL: https://libkey.io/10.1561/0200000084?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Mahesh Nagarajan & Yehuda Bassok, 2008. "A Bargaining Framework in Supply Chains: The Assembly Problem," Management Science, INFORMS, vol. 54(8), pages 1482-1496, August.
    2. Dawn Barnes-Schuster & Yehuda Bassok & Ravi Anupindi, 2002. "Coordination and Flexibility in Supply Contracts with Options," Manufacturing & Service Operations Management, INFORMS, vol. 4(3), pages 171-207, May.
    3. Bank for International Settlements, 2014. "Trade finance: developments and issues," CGFS Papers, Bank for International Settlements, number 50, december.
    4. Gérard P. Cachon & Martin A. Lariviere, 2001. "Contracting to Assure Supply: How to Share Demand Forecasts in a Supply Chain," Management Science, INFORMS, vol. 47(5), pages 629-646, May.
    5. Volodymyr Babich & Panos Kouvelis, 2018. "Introduction to the Special Issue on Research at the Interface of Finance, Operations, and Risk Management (iFORM): Recent Contributions and Future Directions," Manufacturing & Service Operations Management, INFORMS, vol. 20(1), pages 1-18, February.
    6. Helper, Susan, 1991. "Strategy and Irreversibility in Supplier Relations: The Case of the U.S. Automobile Industry," Business History Review, Cambridge University Press, vol. 65(4), pages 781-824, January.
    7. Brian Tomlin, 2003. "Capacity Investments in Supply Chains: Sharing the Gain Rather Than Sharing the Pain," Manufacturing & Service Operations Management, INFORMS, vol. 5(4), pages 317-333, November.
    8. Volodymyr Babich, 2006. "Vulnerable options in supply chains: Effects of supplier competition," Naval Research Logistics (NRL), John Wiley & Sons, vol. 53(7), pages 656-673, October.
    9. Terry A. Taylor & Erica L. Plambeck, 2007. "Simple Relational Contracts to Motivate Capacity Investment: Price Only vs. Price and Quantity," Manufacturing & Service Operations Management, INFORMS, vol. 9(1), pages 94-113, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Volodymyr Babich & Gilles Hilary, 2020. "OM Forum—Distributed Ledgers and Operations: What Operations Management Researchers Should Know About Blockchain Technology," Manufacturing & Service Operations Management, INFORMS, vol. 22(2), pages 223-245, March.
    2. Haji Suleman Ali & Feiyan Jia & Zhiyuan Lou & Jingui Xie, 2023. "Effect of blockchain technology initiatives on firms’ market value," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-35, December.
    3. Morris A. Cohen & Hau L. Lee, 2020. "Designing the Right Global Supply Chain Network," Manufacturing & Service Operations Management, INFORMS, vol. 22(1), pages 15-24, January.
    4. Choi, Tsan-Ming & Wen, Xin & Sun, Xuting & Chung, Sai-Ho, 2019. "The mean-variance approach for global supply chain risk analysis with air logistics in the blockchain technology era," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 127(C), pages 178-191.
    5. Yue Dai & Tianjun Feng & Christopher S. Tang & Xiaole Wu & Fuqiang Zhang, 2020. "Twenty Years in the Making: The Evolution of the Journal of Manufacturing & Service Operations Management," Manufacturing & Service Operations Management, INFORMS, vol. 22(1), pages 1-10, January.
    6. Benzidia, Smaïl & Makaoui, Naouel & Subramanian, Nachiappan, 2021. "Impact of ambidexterity of blockchain technology and social factors on new product development: A supply chain and Industry 4.0 perspective," Technological Forecasting and Social Change, Elsevier, vol. 169(C).
    7. Chang, Jasmine (Aichih) & Katehakis, Michael N. & Shi, Jim (Junmin) & Yan, Zhipeng, 2021. "Blockchain-empowered Newsvendor optimization," International Journal of Production Economics, Elsevier, vol. 238(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chou, Mabel C. & Teo, Chung-Piaw & Zhong, Yuan-Guang, 2019. "Material and Cash Flow in Two-Tier Supply Chain with Trade Credits and Defaults," Foundations and Trends(R) in Technology, Information and Operations Management, now publishers, vol. 12(2-3), pages 119-134, March.
    2. Kouvelis, Panos & Dong, Ling & Turcic, Danko, 2019. "Introduction and Conceptual Overview of Contents," Foundations and Trends(R) in Technology, Information and Operations Management, now publishers, vol. 12(2-3), pages 115-118, March.
    3. Slotnick, Susan A. & Sobel, Matthew J., 2019. "Financial Incentives to Avoid Major Quality Problems in a Supply Chain," Foundations and Trends(R) in Technology, Information and Operations Management, now publishers, vol. 12(2-3), pages 316-333, March.
    4. Secomandi, Nicola, 2019. "Quadratic Hedging of Commodity and Energy Cash Flows," Foundations and Trends(R) in Technology, Information and Operations Management, now publishers, vol. 12(2-3), pages 240-253, March.
    5. Ghoddusi, Hamed, 2019. "Risk Management in Commodity Processing Firms," Foundations and Trends(R) in Technology, Information and Operations Management, now publishers, vol. 12(2-3), pages 219-239, March.
    6. Kouvelis, Panos & Wu, Xiaole & Xiao, Yixuan, 2019. "A Framework of Hedging Decisions for Supply Chain Partnersts," Foundations and Trends(R) in Technology, Information and Operations Management, now publishers, vol. 12(2-3), pages 189-200, March.
    7. Guiotto, Paolo & Roncoroni, Andrea, 2019. "Optimal Positioning in the Derivative Market: Review, Foundations, and Trends," Foundations and Trends(R) in Technology, Information and Operations Management, now publishers, vol. 12(2-3), pages 254-279, March.
    8. Qiaohai (Joice) Hu, 2022. "Capital structure and supply chain capacity investment," Production and Operations Management, Production and Operations Management Society, vol. 31(7), pages 2822-2837, July.
    9. Hu, Qiaohai (Joice), 2019. "Specific Capacity Investment in Supply Chains With Renegotiation," Foundations and Trends(R) in Technology, Information and Operations Management, now publishers, vol. 12(2-3), pages 334-348, March.
    10. Tang, Christopher S. & Yang, S. Alex & Wu, Jing, 2019. "Financing Suppliers under Performance Risk," Foundations and Trends(R) in Technology, Information and Operations Management, now publishers, vol. 12(2-3), pages 135-151, March.
    11. Onur, Boyabatli & Nasiry, Javad & Zhou, Yangfang (Helen), 2019. "Corn, Soybeans or Fallow: Dynamic Farmland Allocation under Uncertainty," Foundations and Trends(R) in Technology, Information and Operations Management, now publishers, vol. 12(2-3), pages 280-297, March.
    12. Shang, Kevin, 2019. "Cash Beer Game," Foundations and Trends(R) in Technology, Information and Operations Management, now publishers, vol. 12(2-3), pages 173-188, March.
    13. Lucker, Florian & Chopra, Sunil & Seifert, Ralf W., 2019. "Disruption Risk Management in Serial Multi-Echelon Supply Chains," Foundations and Trends(R) in Technology, Information and Operations Management, now publishers, vol. 12(2-3), pages 398-315, March.
    14. Volodymyr Babich & Gilles Hilary, 2019. "Distributed Ledgers and Operations: What Operations Management Researchers Should Know about Blockchain Technology," Post-Print hal-02005158, HAL.
    15. Wang, Liao & Yao, David D., 2019. "Data and Risk Analytics for Production Planning," Foundations and Trends(R) in Technology, Information and Operations Management, now publishers, vol. 12(2-3), pages 201-218, March.
    16. Andrew M. Davis & Stephen Leider, 2018. "Contracts and Capacity Investment in Supply Chains," Manufacturing & Service Operations Management, INFORMS, vol. 20(3), pages 403-421, July.
    17. Mathur, Puneet Prakash & Shah, Janat, 2008. "Supply chain contracts with capacity investment decision: Two-way penalties for coordination," International Journal of Production Economics, Elsevier, vol. 114(1), pages 56-70, July.
    18. Sung-Moon Jung & Shie-Gheun Koh & Young-Jin Kim & Pyung-Hoi Koo, 2023. "Coordinated Supply Contracts for a Two-Echelon Supply Chain under Given Bargaining Powers," Sustainability, MDPI, vol. 15(17), pages 1-19, August.
    19. Li, Ying & Gupta, Sudheer, 2011. "Strategic capability investments and competition for supply contracts," European Journal of Operational Research, Elsevier, vol. 214(2), pages 273-283, October.
    20. Amirmohsen Golmohammadi & Alireza Tajbakhsh & Mohamed Dia & Pawoumodom M. Takouda, 2022. "Effect of timing on reliability improvement and ordering decisions in a decentralized assembly system," Annals of Operations Research, Springer, vol. 312(1), pages 159-192, May.

    More about this item

    Keywords

    Risk management; Hedging; Operational risk; Supply chain finance;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:now:fnttom:0200000084. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Lucy Wiseman (email available below). General contact details of provider: http://www.nowpublishers.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.