Supply Chain Finance and Blockchain in Operations Management: A Literature Review

Abstract

The emerging blockchain technology is believed to be a disruptive innovation in the fields of both supply chain management and financial management. Yet, little is known on the interaction of the two domains. In this paper, we conducted a thematic literature review in the novel field of blockchain and supply chain finance (SCF), which is based on 52 papers published from 2017 to 2021 in academic journals, proceedings and books. Based on thematic analysis, the current status of this field is concluded and presented in this research, including the challenges in traditional SCF, factors influencing blockchain adoption in SCF, blockchain-based SCF solutions, and the blockchain adoption mechanism and system design in SCF. Furthermore, a conceptual framework of blockchain adoption in SCF is developed, which combines the emerged themes. Finally, three future research directions are proposed for further research, including cost optimization of blockchain adoption in SCF, risk management of blockchain operations in SCF, and blockchain and sustainable SCF. This research presents a timely and useful summary on existing research and points out the future research directions on blockchain and SCF.

Devising a Mechanism for Analyzing the Barriers of Blockchain Adoption in the Textile Supply Chain: A Sustainable Business Perspective

“…The concept of blockchain can be stated as record keeping of transactions in the form of a distributed digital ledger system using encryption approaches. Basically, blockchain is a pool of decentralized transactions which maintains and verifies the data and saves the information for a certain time span [40][41][42]. This process is open to the accessibility level allowed by a specific company and can be accessed by its personnel at any stage to sanction the data's accuracy.…”