Evaluating blockchain technology for reducing supply chain risks

With the rapid changes in the global business environment, enterprises face many risks for their supply chains. The development of blockchain technology (BCT), an emerging technology, could transform supply chain activities and provides an opportunity to mitigate supply chain risks (SCRs). However, there is a lack of guidance on this issue. Therefore, this study evaluates and prioritizes the impacts of BCT on reducing SCRs. By applying the analytic hierarchy process (AHP) approach, this study identifies and assesses the nineteen BCT adoption enablers for reducing SCRs in a hierarchical structure. Results show that the sourcing process is the essential enabler when enterprises consider adopting BCT for reducing risks, and the weight of the making process is ranked second. Among the sub-criteria, the top five items are clarity of supply sources, counterfeit and shoddy products, fraud in contract fulfillment, the flexibility of capacity, and sensitivity to demand change. This study's findings may guide practitioners considering the introduction of BCT to reduce SCRs and for scholars who are developing related theories.