Abstract
Supply Chain Finance (SCF) faces the complex problem of implementing inventory, purchase order and accounts receivable financing automation in terms of transaction data trust and validation. This paper aims to explore how blockchain technology adoption solves the SCF problem using a multi-case method based on the Technological Acceptance Model (TAM). With purposive sampling, 30 cases were selected on the criteria of perceived usefulness and perceived ease of use in solving SCF problems. The results show that trust, validity and distributed ledger transaction data as perceived usefulness are the main drivers of blockchain adoption because it provides solutions to SCF automation problems such as Know Your Customer (KYC), accounting, and transaction settlement. Smart contracts offer easy and fast transactions such as in L/C export processing as perceived ease to use. Of the 30 blockchain projects, 21 offer the usefulness of automated accounts receivable financing, 15 offer easy-to-use purchase order financing and 8 offer easy-to-use inventory financing processes. This study provides the current state of blockchain technology adoption by exploring 30 real application cases in SCF globally. Blockchain advantages provide automation solutions in global supply SCF practices with smart contracts, transparency and security of distributed ledger data feature.
Highlights
IntroductionThe role of Supply Chain Finance (SCF) is increasingly being considered as an advantage for business processes
This study aims to explore how the adoption of blockchain technology in the current Supply Chain Finance (SCF) process uses a multi-case method based on the Technological Acceptance Model (TAM) theory
From the analysis of 30 blockchain projects in SCF using TAM theory, it can be concluded that perceived usefulness drives the adoption of blockchain technology because it can solve SCF’s main problems, namely: Know Your Customer (KYC), accounting and settlement
Summary
The role of Supply Chain Finance (SCF) is increasingly being considered as an advantage for business processes. Chain financing is a financial management solution that benefits both suppliers and buyers to increase working capital. Buyers use trade credit as cash flow management to maintain business financial liquidity. From the supplier’s point of view, trade credit allows suppliers to set favorable payment dates without disrupting their cash flow [1]. Buyers can take advantage of the extended payment due date, and suppliers get cash faster to maintain positive working capital because of advance payment
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