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Blockchain technology adoption for managing risks in operations and supply chain management: evidence from the UK

Author

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  • Soumyadeb Chowdhury

    (Toulouse Business School)

  • Oscar Rodriguez-Espindola

    (Aston Business School, Aston University)

  • Prasanta Dey

    (Aston Business School, Aston University)

  • Pawan Budhwar

    (Aston Business School, Aston University)

Abstract

The impact of blockchain technology (BCT) implementation on the accuracy, reliability, visibility, incorruptibility, and timeliness of supply-chain processes and transactions, makes it attractive to improve the robustness, transparency, accountability and decision-making in risk management. Therefore, the emerging BCT can present an invaluable opportunity for the organisations in need of preparing for and responding to uncertain and complex instances. The adoption of BCT in the operations and supply chain management (OSCM) literature remains scarcely investigated, especially in the context of managing risks in emergency situations such as crises, disasters, and pandemics, which are characterised by volatility, uncertainty, complexity and ambiguity (VUCA) in the business environment. This article will contribute to the OSCM literature by developing a conceptual model that will examine the causal relationships between VUCA business environment, constructs derived from technology acceptance model (TAM), resilience and behavioural intention of the operations managers to adopt BCT for risk management. The model was tested by gathering responses from 116 operations managers in the UK (during COVID-19 pandemic) through structural equation modelling. Findings from the analysis suggest that understanding the benefits of BCT, involvement in resilient organisational practices and user-friendly implementation of the technology will have a significant and positive influence on the intention to adopt BCT for risk management in the OSCM context. Building upon these findings, we have proposed a BCT decision framework to assess the feasibility and suitability of adopting BCT in each context (such as risk management), which will have strategic implications for operations managers and the OSCM community.

Suggested Citation

  • Soumyadeb Chowdhury & Oscar Rodriguez-Espindola & Prasanta Dey & Pawan Budhwar, 2023. "Blockchain technology adoption for managing risks in operations and supply chain management: evidence from the UK," Annals of Operations Research, Springer, vol. 327(1), pages 539-574, August.
    • Handle: RePEc:spr:annopr:v:327:y:2023:i:1:d:10.1007_s10479-021-04487-1
    DOI: 10.1007/s10479-021-04487-1
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    Cited by:

    1. Mansoureh Beheshti Nejad & Seyed Mahmoud Zanjirchi & Seyed Mojtaba Hosseini Bamakan & Negar Jalilian, 2024. "Blockchain Adoption in Operations Management: A Systematic Literature Review of 14 Years of Research," Annals of Data Science, Springer, vol. 11(4), pages 1361-1389, August.
    2. Satyananda Swain & Manas Ranjan Patra, 2024. "A Distributed Software Agent-centric Framework for Supply Chain Networks Empowered by Blockchain: Insights into Smart Contracts," SN Operations Research Forum, Springer, vol. 5(2), pages 1-27, June.
    3. Ali Emrouznejad & Soumyadeb Chowdhury & Prasanta Kumar Dey, 2023. "Blockchain in operations and supply Chain Management," Annals of Operations Research, Springer, vol. 327(1), pages 1-6, August.

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