The effects of blockchain on supply chain trust : a thesis presented in partial of the requirements for the Master of Supply Chain Management at Massey University, Palmerston North, New Zealand
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Date
2022
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Massey University
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Abstract
Enterprises place strategic importance on supply chains to effectively manage their flow of materials, products, and information. Supply chains primary aim is to have the right product, at the right place, at the right cost, at the right time. Therefore, any gain in efficiency leads to a competitive advantage for the enterprise. A key element to achieving differentiation from competitors is through collaborative partnerships with supply chain suppliers and ultimately, this is achieved by the presence of high-level trust amongst stakeholders. The academic pursuit of this research paper is to explore the type of trust found in supply chain relationships and what effect the adoption of an innovative technology like blockchain would have on trust. Through a thorough literature review, this research thesis addresses comparisons of types of trust, the importance of trust and how trust is achieved in supply chains. Blockchain is, by all definitions, a nascent technology and this amplifies concerns of risk from enterprise and further increases its barriers to adoption. This research thesis argues that blockchain is particularly exposed to a slow rate of adoption due to a lack of knowledge of what distinguishes it from other exponential technologies. In arguing this the research seeks to answer the question: how does blockchain affect trust in supply chain relationships? Through the development of a survey and semi-structured interviews, responses capture the attitude of supply chain professionals surrounding perceived trust in their supply chain, their piloting of exponential technologies and the biggest inhibitors they have experienced to implementing blockchain in their organisations. One of the conclusions of this research is that through the successful implementation of blockchain, enterprises are likely to see increased trust, sustainability, visibility, and efficiency. This cannot be achieved however without an increased understanding from management about the technology, its use cases, and the efficiencies it will bring to a modern, resilient, and adaptive supply chain. This research establishes that the future for blockchain is optimistic if greater awareness of the technological benefits is exposed to the supply chain industry and its various stakeholders.