Adoption of Blockchain Technology for Sustainable supply chain Management

Introduction

Covid- 19 pandemic hampers the flow of finished products and raw material. The long lockdown
period, social distancing, quarantine restrictions for covid-19 effected employees, restriction of
limited business operation hours badly impact the supply chain management (Gazzeh et al.,
2022). The badly hit industries with Covid-19 pandemic badly hit the labor-intensive industries
like supply chain , retail sector, medical care industry as compared to capital intensive industry
(Mileva et al., 2022). Organizations in more labor intensive service industry sectors such as
health-care, retail trade, and supply chain management services are badly effected as compared
to the capitalized industry such as energy and utilities. The productivity of supply chain
management industry experienced negative impact due to labor intensive and usage of outdated
(Min; 2023).

China is the second largest world economy after the United States of America (USA). On 15
January 2020, China and USA signed an agreement to liberalize the trade restrictions in order to
improve flow of goods and services between them (Bown, 2020). But the restrictions of Covid-
19 pandemic in the same year stopped the world trade and production was stopped globally
(Vidya et al., 2023). India is the world’s largest pharmaceutical exporter and it’s 70% of the
constituents produced in China (Dhar and Joseph, 2019). Wuhan city of China is the prime hub
of supply chain operations of high-tech industry (Xia et al., 2023). Earlier, China was the leading
exporter of raw material for western countries. But after the pandemic, the world economies are
focusing on their economic, social and political stability. Due to zero-tolerance covid-19 policy
and stringent restriction in China, the high-tech companies like Apple and Samsung are planning
to spend billions for relocating operations to India, Vietnam and Latin America (Yang and
Chan,2023).

Ukraine and Russia war is also the major contributor for the disruption of global supply chain
(Ngoc et al., 2022). Ukraine and Russia account for world’s one third production of wheat, one
fourth production of barley and 75% of production of sunflower oil. Blockage of Ukraine’s port
and stoppage of field-work by farmers in these countries have been creating a serious food-
shortage in the world (Jagtap et al.,2022). Rising prices of gas and fuel prices have been further
increasing the freight cost for all the transportation modes. The increased shortage of food
products and fertilizers, decreased warehousing capacity and shortage of containers are further
worsening the situations (Nchasi et al., 2022) .

Traditionally, Supply chain management is related with managing the movement of tangible and
intangible products. Supply chain deals with the transportation and warehousing of unfinished
and semi-finished products. It includes the movement of end- products from manufacturers and
final consumers (Rolf et al., 2022). Insufficient flawless system, distrust in alliances, reluctance
to distribute knowledge are one of the biggest objections of global supply chain management.
But adoption of latest digital technology such as block chain technology is only the solution to
the global geo-political issues and adverse impact of pandemic on the supply chain management
sector (Doblis,2023).

A latest global survey on supply chain managers found that these crisis act as a catalyst for
automation widened the vision, competence and up skilling the supply chain workers. Not only it
reduces the cost of operation but also improves decision abilities (Ernst and Young, 2023). It
further helps to adopt standardized digital process and resilient eco-system partnership with the
customers (Tottorella et al., 2018). Presently, their focus is on digital supply chain management
and automatic operations (Twinn et al., 2020). The non-human digital activities help to attain
sustainable supply chain operations. Organization’s efficiency in managing the supply chain
makes them energy efficient and lowers carbon emissions (Zhang and Li, 2019). Supply chain
management is an evolving concept which involves the collaboration of marketing, inventory
management and manufacturing. There is a radical shift in the focus from the intradepartmental
functions to cross departmental and inter- institutional functions (Ballau et al., 2000).

Block-chain technology is the only solution for making goods and services available to the
consumers. It focuses on the smart contracts between buyers and sellers along with elimination
of middlemen (Abdallah et al., 2023). Block chain technology is a possible way to find answers
to the problems to increase protection, reliability, truthfulness, information genesis of supply
chain management is (Kevin et al., 2018).Block chain technology is a dispersed programming
and information management initially developed for carrying out transactions of bit coin and
crypto currencies. The concept was firstly conceived in the year 2008. It consists of sharing of
ledgers in public domain in which data is visible to all the parties and it also excludes the
verification role of third party. It is a safe and reliable system as there is an encoding of all the
transactions on the decentralized computer network instead on the centralized server. Each and
every unaltered transaction has a date and time stamped. Each participant can see the full history
of a deal. Security challenges can be tackled through following the unidentified personal details
and requiring consent to prevent unauthorized access of hackers. It shares the information from
the beginning of the deal with buyers who are conscious of ecosystem and civil rights.

The present research endeavors to explore the implications of adoption of block chain
technology in supply chain management practices. In order to fulfill the main aim of the study,
the authors set few definite aims. The study attempts to find out solutions to the research issues
and research questions which are mentioned below:

R1: Does user satisfaction influences the adoption and sustainable use of block- chain
technology?

R2: Does performance expectancy influences the adoption and sustainable use block-chain
adoption?

R3: Does performance expectancy influences user satisfaction?

R4: Does block chain efficiency influences performance expectancy and the adoption and
sustainable use of block chain technology?

R5: Does technology trust influences adoption and sustainable use of block chain technology?

R6: Does the adoption and sustainable use of block chain technology influences sustainable
supply chain management practices?

The main goal of this paper is to help the company executive to cope-up with all the global
challenges and adopt the uninterrupted and sustainable supply chain operations. One of the most
important roles of this study is to adopt the practical approach while adopting the block-chain
technology.

2. Underpinning of Past literature

2.1 Theoretical framework

3. Research model and hypothesis development

This study extended the scope of ISSM Model by adding ____variables from the existing
studies,namely ____ in the context of adoption of the block chain technology. It also examines
the relationship between the adoption of blockchain technology and supply chain sustainability
to suggest the conceptual model for adoption intention of block chain technology by stakeholders
in the supply chain manabement in developing markets.

3.1 Key elements of adoption intention block chain technology

On the basis of past studies on ISSM model , a conceptual model has been formed as shown in
figure 1 to know the performance of block chain technology in the supply chain by various
participants form the __________.The items have been mainly selected from the past studies
using ISSM Model to understand the adoption intention of block chain technology for
sustainbale supply chain management. As the block chain technology is at infancy stage,
technology trust is selected as moderator as the respondents had little experience in it ( ).Based
on the past studies, system quality, information quality, service quality and user satisfaction is
derived from ISSM theory and whereas performance expectancy and block chain efficiency are
considered as the additional variables ( ).

ISSM theory

Delone & McLean (2003) ISSM success model is widely used in the past studies in order to
consider the accept and adopt various digital technology ( ). There are three main
components of quality .i.e. system quality, information quality and service quality (Roh et al.
,2022). It has been found that these three components have significant impact on adoption of
digital technology (Nguyen et al.,2023). Although, the past studies provides detailed
understanding about the important outcomes of users’ satisfaction and net benefits. But they do
not cover the adoption of block chain technology for sustainable supply chain management.
Based on these arguments, the present study is focused on Delone & McLean (2003) by adding
three additional variables. These variables are performance expectancy, block chain efficiency
and technological trust. These selected variables will assist the managers to align their business
activities with block chain technology. It will not only help the managers to solve the hurdles of
supply chain management at the local as well as global level but they can also assure its
sustainability.

System quality

System quality carries significant effect on inrtention to adopt the digital technology (Bakar et
al., 2022). System quality has significant influence on adoption of digital technology in higher
education (Drwish et al., 2023). It is seen that system quality has significant impact on user’s
satisfaction to use digital technology in higher education (Alismail, 2023).

H1: System quality of block chain technology has strong and positive influence on users’
satisfaction.

H2: System quality of block chain technology has strong and positive influence on user’s
performance expectancy.

Information quality (IQ)

Information quality has no significant influence on adoption of digital technology in higher

education (Drwish et al., 2023). It is seen that IQ has strong positive and significant influence on
user’s satisfaction and intention to adopt technology (Legramante et al.,2023). It is seen that
information quality has significant impact on user’s satisfaction to use digital technology in
higher education (Alismail, 2023).

H3: Information quality of block chain technology has strong and positive influence on users’
satisfaction.

H4: Information quality of block chain technology has strong and positive influence on user’s
performance expectancy.

Service quality (SRQ)

Service quality has no significant influence on adoption of digital technology in higher education
(Drwish et al., 2023).

H5: Service quality of block chain technology has strong and positive influence on users’
satisfaction.
H6: Service quality of block chain technology has strong and positive influence on user’s
performance expectancy.

User’s Satisfaction

User’s satisfaction has strong and positive influence on intention to adopt the digital technology
(Liu et al.,2023).

H7: User’s satisfaction has strong influences on block chain technology’s adoption intention.

Performance Expectancy

H8: Performance expectancy of block chain technology user’s has strong and positive influence
on user’s satisfaction

H9: Performance expectancy of block chain technology user’s has strong and positive influence
on intention to adopt to it.

Block chain efficiency

H10: Block chain efficiency has strong and positive influence on performance expectancy of its
user’s.

H11: Block chain efficiency has strong and positive influence on intention to adopt it.

Adoption of Block chain Technology and Sustainable Supply Chain Management

H12: Intention to adopt block chain technology has strong and positive influence on
sustainability of supply chain management.

Technology trust

The strong users’ trust in digital technology plays significant role in forming positive attitude and
adoption of digital technology (Roh et al.,2022).

H13: Technology trust mediates the relationship between performance expectancy and intention
to adopt block chain technology.
User satisfaction

To investigate the effect of the COVID-19 pandemic on the firm’s supply chain practices and
strategic reaction, this paper conducted a questionnaire survey. The questionnaire survey items
were generated based on the review of the latest literature on the COVID-19 pandemic and
multiple media reports on the COVID-induced supply chain challenges. To seek feedback and
opinions on the number of supply chain issues associated with the COVID-19 pandemic, a five-
page questionnaire was mailed via post or e-mail to 250 randomly selected US firms from June 1
through August 15, 2021. The primary survey targets included US firms that are members of the
Council of Supply Chain Professionals (CSCMP), the Association for Supply Chain
Management (ASCM), and the Institute for Supply Management (ISM). The questionnaire
contained various questions related to the size of the workforce, annual sales revenue, and annual
budget (including healthcare budget) of the responding firms, the BIJ 30,6 1768 extent of the
responding firms’ involvement in outsourcing, and global sourcing practices. Other questions
include the responding firm’s extent of remote working practices and supply chain disruptions
caused by the COVID-19 pandemic. In addition, the responding firms were asked about their
specific reactions to the COVID-19-induced supply chain transformation and the seriousness of
the adverse effect of the COVID-19 pandemic. Our survey questionnaire was mainly directed to
individuals with the title of Vice President, General Manager, Purchasing Manager, Logistics
Manager, Operations Manager, and Director who typically influenced the supply chain-related
decisions. The data collected from the questionnaire responses were analyzed using the
Microsoft Windows Version of Statistical Packages for Social Sciences (SPSS) (SPSS, 2017).
From this sample, 62 responded before the initial “cut-off” date (July 15, 2021). These responses
are considered “early” responses because they were received within about three weeks of the
initial mailing. After the initial cut-off date, we received 49 “late” responses additionally. In
total, 111 usable responses were returned, representing an overall response rate of 44.4%. For
empirical surveys of this type, a response rate totaling over 20% is considered to be more than
sufficient for a valid assessment (Yu and Cooper, 1983). Nevertheless, we were aware that any
survey could create non-response bias which occurred when survey targets who did not return a
questionnaire had opinions systematically different from the opinions of those who returned their
survey. To protect the validity of the sample data, we conducted a series of tests for non-response
bias by using the extrapolation method which was the most widely used technique for detecting
non-response bias (Wagner and Kemmerling, 2010). Based on the extrapolation method
suggested by Armstrong and Overton (1977), we compared the early wave of responses received
before the deadline with the late wave of responses received after the deadline in terms of item
responses. The results of our comparison of early and late responses indicate that there are no
statistically significant differences in mean item responses for the two waves of samples at α 5
0.05 on any of the item responses described earlier. Therefore, non-response bias does not appear
to be a concern.

Research Methodology

Roh, T., Yang, Y. S., Xiao, S., & Park, B. I. (2022). What makes consumers trust and adopt
fintech? An empirical investigation in China. Electronic Commerce Research, 1-33.

Abdallah, S., & Nizamuddin, N. (2023). Blockchain-based solution for pharma supply chain
industry. Computers & Industrial Engineering, 177, 108997.

Alismail, H. A. (2023). The Influence of the Information System Success Model and Theory of
Planned Behavior on the Zoom Application Used by Elementary Education
Teachers. Sustainability, 15(12), 9558.

Ballou, R. H., Gilbert, S. M., & Mukherjee, A. (2000). New managerial challenges from supply
chain opportunities. Industrial marketing management, 29(1), 7-18.

Bakar, N. A., Rosbi, S., & Uzaki, K. (2022). Confirmatory Research Model for E-Wallet
Adoption among University Students in Malaysia during COVID-19. DRIVING CREATIVITY &
INNOVATION IN GLOBAL CRISIS (SERIES 2), 18.

Bown, C. P. (2020). Trump’s phase one trade deal with China and the US election. Peterson Institute for
International Economics, 27

Clauson, K. A., Breeden, E. A., Davidson, C., & Mackey, T. K. (2018). Leveraging Blockchain
Technology to Enhance Supply Chain Management in Healthcare:: An exploration of challenges
and opportunities in the health supply chain. Blockchain in Healthcare Today, 1.
https://doi.org/10.30953/bhty.v1.20
Dangaiso, P., Makudza, F., Jaravaza, D. C., Kusvabadika, J., Makiwa, N., & Gwatinyanya, C.
(2023). Evaluating the impact of quality antecedents on university students’e-learning
continuance intentions: A post COVID-19 perspective. Cogent Education, 10(1), 2222654.

Dhar, B., & Joseph, R. K. (2019). The challenges, opportunities and performance of the Indian
pharmaceutical industry post-TRIPS. Innovation, Economic Development, and Intellectual Property in
India and China: Comparing Six Economic Sectors, 299-323.

Drwish, A. M., Al-Dokhny, A. A., Al-Abdullatif, A. M., & Aladsani, H. K. (2023). A

Sustainable Quality Model for Mobile Learning in Post-Pandemic Higher Education: A
Structural Equation Modeling-Based Investigation. Sustainability, 15(9), 7420.

Dobilas, R. (2023). Improving supply chain performance by means of information sharing: the case of a
logistics service company (Doctoral dissertation, Kauno technologijos universitetas).

Ernst and Young (2023) https://www.ey.com/en_gl/supply-chain/how-covid-19-impacted-supply-chains-

and-what-comes-next accessed on September 6, 2023.

Gazzeh, K., Abubakar, I. R., & Hammad, E. (2022). Impacts of COVID-19 pandemic on the global flows of
people and goods: Implications on the dynamics of urban systems. Land, 11(3), 429.

Jagtap, S., Trollman, H., Trollman, F., Garcia-Garcia, G., Parra-López, C., Duong, L. Martindale W,
Munekata PE, Lorenzo JM, Hdaifeh A, Hassoun A (2022). The Russia-Ukraine conflict: Its implications for
the global food supply chains. Foods, 11(14), 2098.

Liu, X., Chau, K. Y., Liu, X., & Huang, F. (2023). The Determinants of Customer Intentions to
Use Fintech Services in a Commercial Chinese Bank. Journal of Business-to-Business
Marketing, 1-20.

Legramante, D., Azevedo, A., & Azevedo, J. M. (2023). Integration of the technology
acceptance model and the information systems success model in the analysis of Moodle's
satisfaction and continuity of use. The International Journal of Information and Learning
Technology.

Mileva, I., Bojadjiev, M., & Petkovska, M. S. (2022). Entrepreneurial Organizational Culture During a
Pandemic in a Labour-Intensive Industry: The Mediating Role of Fear of COVID-19, Psychological
Distress, and Job Satisfaction in Turnover Intention. Management: Journal of Sustainable Business and
Management Solutions in Emerging Economies, 27(3), 71-80.

Min, H. (2023). Assessing the impact of a COVID-19 pandemic on supply chain transformation: an
exploratory analysis. Benchmarking: An International Journal, 30(6), 1765-1781.

Ngoc, N. M., Viet, D. T., Tien, N. H., Hiep, P. M., Anh, N. T., Anh, L. D. H., & Dung, V. T. P. (2022).
Russia-Ukraine war and risks to global supply chains. International Journal of Mechanical
Engineering, 7(6), 633-640.

Rolf, B., Jackson, I., Müller, M., Lang, S., Reggelin, T., & Ivanov, D. (2022). A review on reinforcement
learning algorithms and applications in supply chain management. International Journal of Production
Research, 1-29.
Twinn, C. I., Qureshi, N. A., Conde, M. L., Guinea, C. G., Perea Rojas, D. S., Gupta, H., & Luo, J. (2020).
The impact of COVID-19 on logistics

Nath, S. D., Khayer, A., Majumder, J., & Barua, S. (2022). Factors affecting blockchain adoption
in apparel supply chains: does sustainability-oriented supplier development play a moderating
role?. Industrial Management & Data Systems, 122(5), 1183-1214.

Nchasi, Goodluck, Carolyn Mwasha, Moshi Moshi Shaban, Rose Rwegasira, Benardine Mallilah, Joshua
Chesco, Anastasiia Volkova, and Ashraf Mahmoud. (2022). Ukraine's triple emergency: Food crisis amid
conflicts and COVID‐19 pandemic. Health Science Reports, 5(6), e862.

Oguntegbe, K. F., Di Paola, N., & Vona, R. (2023). Communicating responsible management
and the role of blockchain technology: social media analytics for the luxury fashion supply
chain. The TQM Journal, 35(2), 446-469.

Kouhizadeh, M., Zhu, Q., Alkhuzaim, L. and Sarkis, J. (2022), "Blockchain Technology and the
Circular Economy: An Exploration", Bals, L., Tate, W.L. and Ellram, L.M. (Ed.) Circular
Economy Supply Chains: From Chains to Systems, Emerald Publishing Limited, Bingley, pp.
189-213.

Tortorella, G. L., & Fettermann, D. (2018). Implementation of Industry 4.0 and lean production in Brazilian
manufacturing companies. International Journal of Production Research, 56(8), 2975-2987.

Xia, C., Yang, J., He, N., & Chan, K. C. (2023). COVID-19, supply chain breakdowns, and firm
value. Emerging Markets Finance and Trade, 59(8), 2370-2382.

Nguyen, T. Q., Pham, T. A. N., Hoang, A. P., Do, T. H. N., & Fuller, D. (2023). Factors
affecting the acceptance of online tax filing and payment system by micro small medium
enterprises in Vietnam. Journal of Asian Public Policy, 1-22.

Yang, C., & Chan, D. Y. T. (2023). Geopolitical risks of strategic decoupling and recoupling in the mobile
phone production shift from China to Vietnam: Evidence from the Sino-US trade war and COVID-19
pandemic. Applied Geography, 158, 103028.

Zhang, Z., & Li, J. (2019). Big data mining for climate change.

They highlighted that users’ satisfaction and the net benefits of the system as the significant
variables. Whilst the theory does provide insights, they may not be able to fully predict the
continued usage of digital library. This is because, the use of digital library in the MAF context
is voluntary and there are resources that can be used as a substitute to digital library, if they are
not satisfied with the system. In this case, the level of support provided by organisations in a
form of training and educational might reduce the usage barriers. Based on these arguments, this
study will tie up two theories-Delone and McLean IS success model (ISSM) (2003) and
organisational support theory, to investigate the continued usage of digital library in the military
context.
https://www2.deloitte.com/us/en/pages/operations/articles/blockchain-supply-chain-
innovation.html

Given all these disruptions, many companies, and those responsible for supply chain
effectiveness, are rethinking their lean and just-in-time planning as well as issues related to
source, make, deliver, and return processes and systems. Moreover, supply chain executives are
increasingly required to predict, and proactively mitigate, vulnerabilities in the supply chain. For
that reason, these executives are focusing their strategic investments on three key effectiveness
drivers:1

1. Predicting supply chain risk

2. Enabling environmental, social, and governance (ESG) tracking through supply chain
traceability
3. Enhancing trust in a complex, multi-stakeholder environment

Enhancing these three drivers can help executives and their enterprises achieve transparency,
track provenance and compliance, and enhance brand loyalty. For many organizations seeking to
master their supply chains, this is where blockchain enters the picture. Blockchain is a record of
transaction data that relies on a shared ledger. This ledger is inherently tamper-evident and
provides a trusted shared and reliable way to record, validate, and view transactions across a
complex system with many participants, some of whom may not inherently trust each other.

In the past, supply chain leaders had to rely on redundancy to mitigate supply chain disruptions.
While some redundancy may always be necessary—especially for critical materials—solutions
like blockchain can help companies proactively detect and mitigate supply chain risks before any
severe impact occurs. For example, to increase transparency and traceability, companies in
resource-intensive industries have turned to blockchain solutions to help control Scope 3
emissions.2 Finally, because global supply chains involve many discrete entities that are
frequently separated by several degrees in terms of their interests, the quality and opacity of
information invariably degrades trust among parties. Technologies like blockchain can help
offset such detrimental effects by ensuring the authenticity of information and transparency
during upstream transactions.

Blockchain supply chain innovation Download the PDF

How can blockchain help?

When thinking about how best to apply blockchain technology in the supply chain, it is
important to remember that supply chains are, at their core, a network of interlinked companies.
In that network, each business adds value to a product or service before it reaches the end user.
This exchange and accumulation of value is recorded through a series of transactions, or flows,
of information, goods, services, and finances.3 A “permissioned blockchain” offers the potential
of recording these transactions (both physical and virtual) on a shared and immutable ledger,
which enables the capture, validation, and sharing of data across these interlinked companies.
 Ultimately, all parties have access to a seamless exchange of value and a single source of truth
that was previously impossible. For more and more use cases (e.g., predicting risk; enhancing
visibility and traceability for critical product components; increasing data accuracy,
immutability, and trust among value partners), blockchain strengthens global supply chains.
Moreover, blockchain technology is mature enough to interface with, and take advantage of,
other emerging technologies such as Internet of Things (IoT), smart contracts (pieces of code
stored on a blockchain), and artificial intelligence (AI) to provide an enhanced and secured
supply chain.

Traditional supply chain management faces problems, such as the lack of data transparency,
advanced trust mechanisms, and traceability. Blockchain technology, characterized by
decentralization, tamper-resistance, and higher transparency, is well suited to address those
existing problems. The World Economic Forum’s “Supply Chain Collaboration through
Advanced Manufacturing Technologies” white paper and Deloitte’s “Using blockchain to drive
supply chain innovation” report emphasized the transformative impact of blockchaining on
supply chains, highlighting its potential to increase transparency, traceability, and trust among
participants and help improve collaboration and efficiency. Therefore, integrating blockchain
technology into supply chain management will improve operational efficiency anXia J, Li H, He
Z. The Effect of Blockchain Technology on Supply Chain Collaboration: A Case Study of
Lenovo. Systems. 2023; 11(6):299. https://doi.org/10.3390/systems11060299
Chicago/Turabian Styled lower the operational risks and costs of supply chains, enabling a
new revolution in supply chain management and bolstering industrial chain advancement.

https://blog.rapidinnovation.io/how-bckchain-help-reduce-supply-chain-fraud-
counterfeiting/

https://www2.deloitte.com/us/en/pages/operations/articles/blockchain-supply-chain-
innovation.html

 Amazon – Revenue [US$386.06 Billion]

Amazon is a multinational technology company based in the United States and is the most
valuable brand in the world. Amazon is a global leader in e-commerce, cloud computing, and
artificial intelligence. Based on revenue, Amazon is the world’s largest internet company.

Amazon has a cloud computing subsidiary, Amazon Web Services, which provides on-demand
cloud computing platforms and APIs to users, organizations, and government on a pay-as-you-go
basis. Amazon Managed Blockchain is a comprehensively managed service that enables users
and organizations to set up and manage a scalable blockchain network. Supply chain solutions
built using Amazon Managed Blockchain can provide the much needed end-to-end visibility
needed by supply chains to efficiently track and trace the production process with increased
efficiency of automation.

 Microsoft Corporation – Revenue [US$143.02 Billion]

 Microsoft Corporation is a multinational technology company that produces computer software,
consumer electronics, and related services. Microsoft offers Azure, which is a cloud computing
service created by Microsoft to build, test, deploy, and manage applications and services through
Microsoft’s data centers. Azure Blockchain Workbench provides required infrastructure to
establish a consortium network. Businesses are using blockchain to digitize workflows for
processes such as moving physical objects through supply chain. Azure blockchain services
enable users to create smart and efficient supply chains, reduce frauds, and verify transactions
rapidly.

 Huawei Technologies – Revenue [US$136.23 Billion]

Huawei is a global leader in information and communication technology (ICT) industry and
smart devices. It is focused on designing and developing communication devices and consumer
electronics. Huawei’s Blockchain Service (BCS) is a cost-efficient and easy-to-use service that
has applications in supply chain finance and supply chain tracing. It uses decentralized, tamper-
proof, and shared ledgers to ensure transparency, fairness, and enables cut down of risk
management costs.

 IBM – Revenue [US$76.2 Billion]

International Business Machines Corporation (IBM) is a global leader in cloud platform and
cognitive solutions. IBM Blockchain assists supply chain partners share and exchange trusted
data through permissioned blockchain solutions and enhanced visibility across all supply chain
activities. IBM Blockchain supply chain solutions leverage smart contracts that are automatically
activated when pre-defined business requirements are met and this offers real-time visibility into
operations and increase the capability to take actions on time.

 Accenture Plc – Revenue [US$44.33 Billion]

Accenture Plc is an Irish multinational company that offers consulting and processing services
and delivers a range of specialized capabilities and solutions to numerous end-use industries on a
global scale. Accenture’s Blockchain solutions offers an immutable audit trail that proves
authenticity and compliance of hardware, software, and documentation across supply chains. The
solutions reduce time delays, added costs, and human errors that improve transactions and
processes of supply chains.

 Oracle Corporation – Revenue [US$39.07 Billion]

Oracle Corporation is the world’s largest database management company that offers services and
products such as database software and technology cloud-engineered systems, and enterprise
software. Oracle provides Digital Supply Chain with Blockchain industry solution that offers a
distributed digital ledger with smart contracts that can formulate contracts between multiple
parties, make transaction more transparent, maintain product provenance, and improve supply
chain efficiencies. Oracle’s Digital Supply Chain with Blockchain solution comprises Oracle
Blockchain Cloud, Oracle Transportation Management, Oracle Supply Chain Management
(SCM) cloud, Oracle IoT Cloud, and 3rd party enterprise systems.
 SAP SE – Revenue [US$27.34 Billion]

SAP SE is a German multination software corporation that offers enterprise software enabling
better management of business operations and customer relations. SAP is the largest non-
American software company based on revenue and largest German company by m-cap. SAP has
engineered blockchain compatibility into its supply chain management solutions. SAP
blockchain-driven supply chain management offers efficiently management of bills and
document signing for freight, monitoring and processing objects across supply chain, and ability
to trace origins of products.

Traceability
Counterfeit products
Reduce paper work
Improve visibility
Transparency
Covid 19 Pandemic
Ukraine and Russia war

RESEARCH GAP

Source Theory Used Objective of the Study Findings

of the
study
Oguntegbe social media analytics Communicating responsible management
et al. (2023)
(content analysis and and the role of blockchain technology:
sentiment analysis) social media analytics for the luxury
fashion supply chain
Nath et al. technology-organization- investigate the factors affecting the
(2022) environment (TOE) intention to adopt blockchain technology
framework and diffusion (BT) in operations and supply chain and
of innovation (DOI) to explore the moderating role of
theory, Literature review sustainability-oriented supplier
development on the effects studied.