Blockchain-Enabled Supply Chain Transparency, Supply Chain Structural Dynamics, and Sustainability of Complex Global Supply Chains — A Text Mining Analysis

Pankaj Kumar Medhi

Chapter 11 in Information for Efficient Decision Making:Big Data, Blockchain and Relevance, 2020, pp 273-312 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Blockchain technology has been hailed as the technology of the future, not only for banking and finance but also for supply chain management and logistics. As lack of transparency in global supply chains is a major risk for sustainability, blockchain offers an attractive solution in the form of a reliable platform to create transparency and risk management. Not considering the nascent stage of the technology, companies are investing millions of dollars into blockchain solutions for many business problems including that of supply chains. However, blockchain-enabled networkwide transparency and visibility also inject new dynamics into supply chains through introduction of structural changes like redefining what is organizational boundary, creating new resources, and a new transactional economy for supply chain management. The structural changes also create a fundamental need for organizations in a supply network to adapt their supply chain processes to this new and emerging supply chain structural dynamics for organizational and network-level efficiency and sustainability. For efficient restructuring of the supply chain processes, organizations need clarity regarding what should be the focus of their processes for creating sources of competitive advantage.Using topic modeling, a text mining technique, this work finds the focus areas of supply chain processes in organizations with examples of successful application of blockchain technology. Apart from how these organizations have integrated the strengths of blockchain in their supply chain processes, we also provide an exhaustive theoretical explanation about how firms can create sources of competitive advantage from blockchain technology. Identification of the focus areas will also help operations and supply chain managers planning to implement blockchain technology and devise plans for data-centric decision-making for their SCM processes for efficiency.

Keywords: Accounting; Decision Making; Economic Information; Stock Trading; Acquisitions; Mergers; Financing Reporting; Reliable Information; Company Decisions (search for similar items in EconPapers)
JEL-codes: A1 M41 (search for similar items in EconPapers)
Date: 2020
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789811220470_0011 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789811220470_0011 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789811220470_0011

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().