Role of Intellectual Capital in Implementing Blockchain Technology-Driven Sustainable Supply Chain: A Proposed Framework

Abstract

The importance of adopting sustainable practices in a supply chain to minimize the negative impact on the environment is widely recognized. The growing influence of climate change and consumer awareness has forced industries to develop innovative sustainable practices. Supply chain planners and managers are searching for and incorporating green practices that are not harmful to society and the environment. The developments in information technology have facilitated in implementation of such practices. Applying new tools like Blockchain technology has enabled improved controlled processes and traceability in the supply chain. It enables tracking and tracing of the movement of goods within sustainability guidelines, and any deviation can be noted in real-time. Likewise, it allows a clear view of downstream and upstream supply chains, ensuring sustainable practices are implemented, and no harm is done to the environment. Despite these benefits, the implementation of Blockchain technology is a challenging endeavour. A blockchain-driven supply chain requires diverse skills, structural changes, human resources management, and increased collaboration among supply chain partners. This makes adoption challenging with a high probability of failure. The supply chain managers seek guidance in overcoming this challenge. The intellectual capital offers a distinctive set of valuable tools for developing a blockchain-driven sustainable supply chain. The elements of intellectual capital, human, relational, and structural, provide a unique platform to facilitate the implementation. Drawn from it, this paper proposes a framework for developing a blockchain-driven sustainable supply chain by incorporating intellectual capital. The unique role of each element of intellectual capital is highlighted, followed by a detailed analysis of the contribution of each component. The framework provides guidance for supply chain managers and planners in developing an environment-friendly sustainable supply chain.