Risk management of supply chains in the digital transformation era: contribution and challenges of blockchain technology

Abstract

Purpose The high degree of likely disruption challenges organizations at all levels to develop and implement innovative strategies. Ensuring supply chain continuity even during emergency and complex situations is critical for organizations. Therefore, this study explores some strategies adopted by firms based on innovation and blockchain-enabled digital transformation to reduce risk in their supply chain. Design/methodology/approach This study follows the qualitative form of enquiry. The authors interviewed 26 professionals from the supply chain domain. After three-layered coding and mapping multiple layers to the data of interviews, the authors identified emerging themes and sub-themes through a thematic analysis. Findings The authors identified type of risks that can affect global supply chains along with both the role of blockchain and innovation culture in minimizing the degree of such risks and the challenges in adopting blockchain technologies. This led us to develop a framework to address supply chain risk through digital transformation through innovation and blockchain. Practical implications This research offers exciting implications for practice by drawing on the insights gathered to facilitate supply chain risk management through innovation and blockchain applications for organizations that are strongly impacted by digital transformation practices around the world. The study also offers the utilization of a framework followed by propositions to reduce supply chain risks in the digital transformation era. Originality/value This study focuses on presenting a mechanism of supply chain risk management through the application of innovation and blockchain technology for the digital transformation of a value chain. Blockchain can offer an innovative platform to ready the supply chain for future dynamic situations.

Blockchain technology in supply chain management: an organizational theoretic overview and research agenda

“…It also explores phenomena such as resilience, sustainability, green, circular SC as the future application areas. The potential SC application areas for BT discussed in the literature are Food SC (Behnke & Janssen, 2020 ; Bumblauskas et al, 2020 ; Kittipanya-ngam & Tan, 2020 ; Liu et al, 2020 ; Vivaldini, 2021a ), Agricultural SC (Hu et al, 2021 ; Liu et al, 2020 ; Mishra & Maheshwari, 2021 ; Mukherjee et al, 2021 ), SC Risk Management (Choi et al, 2019 ; Manupati et al, 2022 ; Rauniyar et al, 2022 ; Shashi et al, 2020 ), Sustainable SC (Gong et al, 2022b ; Khan et al, 2022b ; Liu et al, 2021c ; Wang et al, 2022 ; Xia et al, 2021 ), etc. 65 studies fall under this heading as listen in Table 17 .…”

“…Bechtsis et al ( 2021 ) argued that data-driven technology such as BT provide an impetus to improve SC operations, security, resilience, and sustainability. Kayikci et al ( 2021 ) proposed that BT application of immutability, traceability, transparency, and smart contracts could lead to operational excellence, effective collaboration, reduction of risks (Rauniyar et al, 2022 ), increased responsiveness and flexibility. Rejeb et al ( 2021 ) argued facilitating accountability, auditability, data consistency, transparency and traceability are the main focal application areas of BT in future SC’s.…”

Guest editorial: Digital transformation strategy and impacts during emergency situations

“…The study of Rauniyar et al . (2023) investigates strategies to supply chain risk reduction founded on innovation and blockchain-enabled digital transformation.…”

“…The study of Rauniyar et al (2023) investigates strategies to supply chain risk reduction founded on innovation and blockchain-enabled digital transformation. The authors adopt a qualitative approach by performing interviews with supply chain practitioners.…”

How Digital Thrift Shops Escalate Global Supply Chain Sustainability in Indonesia

“…In the law, Article 47 paragraph (1) states that every importer is obliged to import goods in new conditions. However, in certain circumstances, the Minister of Trade may determine that the imported goods are not new (Rauniyar et al, 2022).The condition "in certain cases" for the import of non-new goods to be permitted are goods needed by Business Actors in the form of non-new capital goods that have not been able to be fulfilled from domestic sources (Liu et al, 2022).…”