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

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.

Publication DOI: https://doi.org/10.1007/s10479-021-04487-1
Divisions: College of Business and Social Sciences > Aston Business School
College of Business and Social Sciences > Aston Business School > Operations & Information Management
College of Business and Social Sciences > Aston Business School > Aston India Foundation for Applied Research
College of Business and Social Sciences > Aston Business School > Work & Organisational Psychology
Additional Information: © 2022, The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature.
Uncontrolled Keywords: Blockchain technology,Decision framework,Risk management,Structural equation modelling,TAM,VUCA environment,Decision Sciences(all),Management Science and Operations Research
Publication ISSN: 1572-9338
Full Text Link:
Related URLs: http://www.scop ... tnerID=8YFLogxK (Scopus URL)
https://link.sp ... 479-021-04487-1 (Publisher URL)
PURE Output Type: Article
Published Date: 2022-01-24
Published Online Date: 2022-01-24
Accepted Date: 2021-12-06
Authors: Chowdhury, Soumyadeb
Rodriguez-Espindola, Oscar (ORCID Profile 0000-0002-4889-1565)
Dey, Prasanta (ORCID Profile 0000-0002-9984-5374)
Budhwar, Pawan (ORCID Profile 0000-0001-8915-6172)

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Version: Accepted Version

Access Restriction: Restricted to Repository staff only until 24 January 2023.


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