Establishment and Cluster Analysis of Performance Evaluation Index System for New Retail Enterprises Driven by Blockchain Technology

Abstract

Over the last few years, the further transfomation of retailing derived from growing development and integration of Internet has led to the emergence of new retail mode as a tendency conforming to the demand of the consumer market. Blockchain technology as a major innovation in supply chain has a wide prospect and only little investigation about its application is available in the literature. Literature and expert opinion interpretation in index are further analyzed and modeled using fuzzy-interpretive structural modeling (FISM), Fuzzy Matriced Impacts Corises-Multiplication Appliance Classment (FMICMAC). The combined approach of both FISM and FMICMAC is applied to identify the common drivers to enhance the efficiency of new retailing in the light of efficient supply chain management. The findings in the article endorse that the traditional retailing can be made efficient by integrating the blockchain technology considering three most driving characteristics, namely, Effective Information, Interactive Reflection and Information Circulation. The study carried out in this article motivates industries to implement blockchain technology in their new retailing model. It will reduce the transaction cost, documentation work, save time and eliminate human error. The common characteristics identified in this proposed work would help in managerial decisions for the adoption of blockchain technology to ensure that the system becomes more transparent, easily traceable and finally improves the performance.