Matching supply chain management challenges with blockchain applications

Purpose - This study aims to explore the potential of blockchain technology in the field of supply chain management (SCM). The research is motivated by the emerging significance of blockchain as a disruptive technology that can potentially address a range of challenges faced by SCM professionals globally. Design/methodology/approach - In our approach, this paper utilized a knock-out criteria approach to break down 150 identified challenges in SCM to a more manageable number of 12. The Analytic Hierarchy Process (AHP) was then used to prioritize these challenges in order of their relative importance and suitability for resolution through blockchain. Findings - The analysis identified key challenges to be addressed by blockchain technology in SCM. Most notably, it highlighted concerns related to price stability and global financial flows, which closely intertwine. Another significant group of issues pertains to tracking, tracing and the demonstration of sustainability, thus suggesting a substantial potential for blockchain application in these areas. The fifth notable challenge revolves around establishing ownership rights over digital assets or software. Originality/value - This study identified key challenges in SCM with significant potential for blockchain intervention including price stability, global financial flows, tracking, tracing and the establishment of digital asset ownership. Research gaps exist despite notable progress in applications such as inflation control and tracking - especially in areas like ownership rights and e-commerce. The findings indicate that blockchain has the potential to address SCM challenges and that further exploration and implementation are necessary.