Blockchain and Risk in Supply Chain Management

Abstract

Due to their decentralised structures and diverse networks, supply chains are prone to suffer from disruptive events, which are usually covered by supply chain risk management (SCRM). The blockchain technology (BT), by its very nature, presents opportunities in helping the actors in such supply chains to enhance security and transparency. BT is defined as a database that registers digital assets in a secure, transparent, and immutable manner. Organisations have tested many BT applications. However, to the best of our knowledge, the literature is still nascent as to how BT reduces the risk in supply chains. To bridge this gap, we (i) review the literature on SCRM and (ii) run multiple case studies. The conclusions presented exemplify how some risks may be best circumscribed in the usual operations of supply chains. The paper may serve both practitioners and academics.