Blockchain for sustainable supply chains: A systematic review and framework for SME implementation
1 Henry Jackson Foundation Medical Research International Ltd/GTE, Nigeria.
2 Lafarge Africa Plc, Ikoyi, Lagos.
3 Wayfair, Lutterworth, England, UK.
4 Zenith Bank Plc, Lagos, Nigeria.
5 Independent Researcher, Port Harcourt, Nigeria.
6 Sanctus Maris Concepts Ltd.
7 Independent Researcher, Lagos.
Review
World Journal of Advanced Engineering Technology and Sciences, 2024, 13(01), 979–999.
Article DOI: 10.30574/wjaets.2024.13.1.0503
Publication history:
Received on 10 September 2024; revised on 18 October 2024; accepted on 21 October 2024
Abstract:
This paper presents a systematic review of the role of blockchain technology in fostering sustainable supply chains, with a particular emphasis on its implementation for small and medium-sized enterprises (SMEs). The objective is to explore how blockchain can address critical challenges such as transparency, traceability, and accountability, thereby contributing to more sustainable and ethical supply chain practices. Through an extensive literature review, this study examines various blockchain applications and their potential to enhance sustainability by reducing inefficiencies, ensuring compliance with environmental standards, and mitigating risks related to unethical practices.
The research methodology involved a comprehensive analysis of peer-reviewed articles, case studies, and industry reports to identify the benefits and barriers of blockchain adoption in supply chains. Key findings suggest that while blockchain can significantly enhance transparency and sustainability, SMEs face unique challenges in terms of technological adoption, cost implications, and scalability. Additionally, the paper proposes a framework tailored to SME needs, outlining practical steps for blockchain implementation, including initial investment strategies, stakeholder collaboration, and integration with existing technologies.
The study concludes that blockchain holds great potential for advancing sustainable supply chains, but its adoption by SMEs requires a strategic approach that addresses financial, technical, and operational barriers. This framework provides a roadmap for SMEs aiming to leverage blockchain technology to achieve sustainability goals, thus contributing to long-term business competitiveness and compliance with global sustainability standards.
Keywords:
Blockchain technology; SMEs; Supply chain innovation; Transparency; Traceability; Sustainability; Strategic partnerships; Circular economy; Smart contracts; Supply chain automation; Sustainable practices; Supply chain financing; Blockchain adoption; Digital economy; Global markets
Full text article in PDF:
Copyright information:
Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0