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The purpose of this paper is to illustrate how blockchain technology can improve supply chain adaptability, alignment and agility which collectively enhance competitive…
The purpose of this paper is to illustrate how blockchain technology can improve supply chain adaptability, alignment and agility which collectively enhance competitive advantage which in turn influences firm performance.
The conceptual framework of the present study is developed by conducting an extensive literature review on blockchain technology, supply chain adaptability, alignment, agility and competitive advantage. The sample data were collected from 397 supply chain practitioners in India to validate the conceptual model. Confirmatory factor analysis was conducted to ascertain the validity of the measures used and a structural model was analyzed for testing the proposed conceptual framework.
The results of the present study show that blockchain technology can improve supply chain adaptability, alignment, agility which lead to competitive advantage, which leads to better firm performance. Besides, trust generated through blockchain use also increases firm performance.
Currently, the respondents do not have practical experience of using blockchain technology. They have responded based on their knowledge about supply chain and blockchain which they acquired from published sources. Different supply chains require different strategic choices and different information needs. But the present study assumes that all supply chain needs are identical. The present study assumes that government regulations regarding blockchain technology are favorable; however, currently, there is no legal framework to address blockchain technology. The findings of the current study indicate that companies not only should create more awareness regarding blockchain but also should actively work with IT companies that are engaged in developing blockchain-based supply chain solution. Managers, as well as IT companies and academicians, should join hands to study and develop a framework for regulating blockchain technology and suggest these to the policy actors.
The present study shows that supply chain practitioners are confident that blockchain technology will help improve supply chain parameters. These findings can help IT companies and their marketers for developing and promoting blockchain-based IT applications. In addition, the important implication for supply chain practitioners is that blockchain helps in creating a competitive advantage and increases firm performance.
The effect of IT on important supply chain variables has been studied in the past; however, there is not a single study which sheds light on how disruptive technologies such as blockchain will affect supply chain adaptability, alignment, agility and firm performance.
As we move up in the supply chain (SC) from retailer to supplier, amplification in the fluctuation of order increased. To minimize this amplification, understanding of key…
As we move up in the supply chain (SC) from retailer to supplier, amplification in the fluctuation of order increased. To minimize this amplification, understanding of key decision variables which affects the SC is essential. So, in the present work the authors developed a novel approach to examine the structural dependencies among variables responsible for perfect order fulfillment (POF).
Interpretive structural modeling approach has been used to model the structural relationship among the key SC variables. Further, to study the driver-dependence dynamics among variables MICMAC analysis has been used. In the second phase, the influence of driver variables on the POF is investigated by using fuzzy logic.
From the results, it is observed that the variables’ delivery time, number of echelons, data accuracy and information sharing have high driving power which may help the organizations to meet challenges offered by POF. The results showed that for POF is said to be at optimum level when the number of echelons should be low and data accuracy should be high, and information sharing among all partners should also be very high.
Research on SC is classified into three categories, i.e. operational, design and strategic. In the present study authors discussed strategic variables responsible for POF which is the main limitation of the study. The work can be extended by including operational and design variables.
POF in SC network is affected by various variables. The in-depth understanding of contextual association among the variables helps the managers to improve the efficiency of the SC and reduce the bullwhip effect across the downstream SC network.
The study presents a hybrid approach to analyze the key POF dimensions, i.e. forecasting, number of echelons, information sharing, cycle time and delivery time, critical to POF in downstream SC network by developing various case settings.