Barricades in the Adoption of Block-Chain Technology in Supply Chain Management: Challenges and Benefits

Abstract

Blockchain technology, as a distributed digital ledger technology that ensures traceability, security, and transparency is displaying potential for easing some comprehensive supply chain problems. Scholars have started analyzing systematically the potential benefits and effects of block-chain on numerous activities of an organization. This paper presents the barricades in the adoption of blockchain technology in supply chain management. The potential benefits of blockchain adoption such as quality, cost, speed, transparency, durability, and immutability are also discussed in this paper. We present the early literature discussing the use of blockchain in the field of the supply chain to enhance accountability and transparency. This study explains the several mechanisms by which supply chain managers can prepare their organizational structure to adopt the latest technology. It further highlights the mechanisms to achieve supply chain objectives. Part of this paper also discusses how blockchains, a potentially disruptive solution that is on its early evolution, can overcome several potential barricades. Future research directions are proposed which can further provide insights into overcoming barriers and adoption of blockchain technology in the field of supply chain management.