A Neutrosophic Evaluation Model for Blockchain Technology in Supply Chain Management

Abstract

Nowadays, firms are trying to execute and use blockchain technology (BT) for rising the products and service goodness in the supply chain (SC). Based on the specific requirements, the BT can be used in several areas. The BT assets various segments of Supply Chain Management (SCM) with consideration of several effective features that are characterized to be multi-criteria decision making (MCDM) issues with environmental restrictions of uncertainty conditions. This research illustrates the suitability of BT in SCM for various segments that are assessed using a neutrosophic model according to single-valued neutrosophic sets (SVNSs). Also, contributes as an evaluation model that combines neutrosophic set, with MCDM methods of Analytic Hierarchy Process (AHP), VIseKriterijumska Optimizacija I Kompromisno Resenje (VIKOR), and Technique for Order Performance by Similarity to Ideal Solution (TOPSIS). The proposed study uses the AHP method to generate weights of criteria considering the expert's perspectives. Moreover, uses the neutrosophic theory to handle uncertain situations. The alternatives ranked based on outcomes of applying TOPSIS and VIKOR methods. A case study presents a hierarchical MCDM issue of 7 criteria and 20 sub-criteria with alternative segments assessed. As a result, the medicine segment is recommended to be the best alternative according to the proposed methods of AHP, TOPSIS, and VIKOR while the insurance segment is not recommended by AHP and TOPSIS methods and jewelry segments are not recommended in the VIKOR method.