logistics

Article
An Integrated Impact of Blockchain on Supply
Chain Applications
Ieva Meidute-Kavaliauskiene 1, * , Bülent Yıldız 2 , Şemsettin Çiğdem 3 and Renata Činčikaitė 1

1 General Jonas Žemaitis Military Academy of Lithuania, Silo St. 5A, LT-10322 Vilnius, Lithuania;
Renata.cincikaite@lka.lt
2 Faculty of Economics and Administrative Sciences, Kastamonu University, Kastamonu 37150, Turkey;
byildiz@kastamonu.edu.tr
3 Faculty of Economics and Administrative Sciences, Gaziantep University, Gaziantep 27310, Turkey;
semsettincigdem@gmail.com
* Correspondence: ieva.meidute@lka.lt; Tel.: +370-69986847

Abstract: Market conditions have become increasingly dynamic and demanding, resulting in a
challenging competitive environment. To adapt to this dynamic environment, supply chains have
become increasingly reliant on collaboration, integration, flexibility, and trust between stakehold-
ers. Therefore, the importance of new technological applications in supply chains has grown even
more. To improve supply chain flow control, modern specialized applications must be implemented.
Blockchain technology has established itself as a necessary component of today’s competitive en-
vironment. Companies should invest in blockchain technology to respond quickly to changing
market conditions and demands in today’s dynamic business environment. In this regard, this study
investigates the effect of blockchain technology utilization on supply chain transparency, supply
chain flexibility, and trust in suppliers. For this purpose, first, data were collected from the first 1000





 exporting firms declared in 2019 by the Turkey Exporters Assembly using a survey method. Secondly,
Citation: Meidute-Kavaliauskiene, I.;
factor analyses and regression analyses were performed with the dataset obtained from 84 compa-
Yıldız, B.; Çiğdem, Ş.; Činčikaitė, R. nies. As a result of the analysis, it was determined that blockchain technology utilization increases
An Integrated Impact of Blockchain on transparency, flexibility, and trust in supply chains. According to these results, it is suggested that
Supply Chain Applications. Logistics companies should invest in blockchain technology to make their supply chain more transparent,
2021, 5, 33. https://doi.org/10.3390/ flexible, and secure. Moreover, blockchain plays a crucial role in building mutual trust with supply
logistics5020033 chain stakeholders. Finally, the research includes some considerations on the positive implications
and potential of blockchain in collaboration and integration.
Academic Editor: Robert Handfield

Keywords: blockchain; supply chain transparency; supply chain flexibility; trust; integration; collab-
Received: 9 April 2021
oration
Accepted: 6 May 2021
Published: 1 June 2021

Publisher’s Note: MDPI stays neutral 1. Introduction

with regard to jurisdictional claims in
Supply chain management is widely regarded as a critical tool for cost control and eco-
published maps and institutional affil-
iations.
nomic performance improvement in today’s competitive business environment. However,
given emerging issues such as increasing supply chains’ complexity, transparency, and
flexibility requirements, task-wise challenges and supply management practices must be
modernized if companies and industrial sectors intend to stay competitive [1,2]. Changes in
demands and product portfolios cause difficulties in synchronizing the companies’ supply
Copyright: © 2021 by the authors.
and demand plans that make up the supply chain, because they spread to very different
Licensee MDPI, Basel, Switzerland.
geographies [3]. It is essential to prevent any damage to the product that may occur during
This article is an open access article
the transportation of sensitive products from one company to another until they reach the
distributed under the terms and
conditions of the Creative Commons
end-users. In traditional supply chain management, tampering of products during trans-
Attribution (CC BY) license (https://
port, delay and fraud, identity verification, lack of data management, and lack of accuracy
creativecommons.org/licenses/by/ and integrity of data are common problems [4]. Many large contemporary companies have
4.0/). established their identity systems to protect and maintain the global dominance of their

Logistics 2021, 5, 33. https://doi.org/10.3390/logistics5020033 https://www.mdpi.com/journal/logistics

Logistics 2021, 5, 33 2 of 18

operations and retain the authority to instruct their suppliers. Otherwise, they must rely
on and adhere to major regulatory firms or intermediaries [1].
Companies have been using information technologies for the optimization of supply
chain processes for many years. At first, EDI was used to improve efficiency in communica-
tion infrastructure between companies. With EDI integration, companies aimed to achieve
benefits such as faster and more efficient data flow [5], shortening order completion times,
increasing distribution flexibility, and improving customer service quality [6]. Over time,
technologies such as RFID [7] and the internet of things [8] began to be used for needs
such as supply chain agility and visibility. Although many digital technology instruments
are used to make supply chain processes more efficient today, issues about transparency,
flexibility, and trust are still not fully solved. Low transparency in supply chains causes
many problems and difficulties in security, traceability, identity documentation, and veri-
fication [1]. The relevant literature indicates that establishing a trust-based environment
in supply chains remains a significant challenge, and that trust is required for the imple-
mentation of effective supply chains [9]. Additionally, demand forecasting becomes more
difficult as product life cycles shorten and production lead times lengthen. Supply chains
are at risk of overcapacity in this situation due to low demand realization of a lack of
product availability. As a result, it is critical to developing flexible supply chains capable
of responding quickly to market reactions [1]. Blockchain can solve the issues mentioned
above because of its strong characteristics, such as decentralization, transparency, and
trust [4]. As an accurate supply chain traceability system, the potential of blockchain to
increase the transparency and auditability of material flow will also spread its adoption by
supply chains [9]. Using blockchain will help improve supply chain security, traceability,
and efficiency. Additionally, blockchain technology can increase collaboration between net-
work members with possible benefits that include decreased costs and increased efficiency.
Blockchain technology can also increase customers’ trust because it provides traceability of
products at all supply chain stages. Furthermore, blockchain technology supports fraud
prevention, positively affecting cost reduction and efficiency [10].
Blockchain is a viable method of tracking assets while guaranteeing security and data
integrity. The benefits of blockchain-based tracing include the security of information
sharing, real-time collection of product data, transparency, and visibility in the supply
chain, as well as quality control throughout the entire lifecycle [11]. Many research papers
have examined the technology’s potential applications in manual or process-intensive
roles, such as freight delivery, bill management, and inventory management [12]. It has
been emphasized as one of the advantages of blockchain technology to reduce costs by
optimizing information flows due to increasing supply chain traceability. Blockchain
technology provides these advantages by increasing the level of information sharing and
the security of shared information. Moreover, blockchain technology can create more
secure supply chains by supporting the weaknesses of other industry 4.0 components
(cyber-physical systems, internet of things, etc.) [13].
Due to the reasons listed above, it is inevitable for all companies to follow technology
closely and ensure its integration into business processes. Therefore, a new requirement to
achieve sustainable competitive advantage and adapt to changing market conditions is to
consider the use of digital technologies in supply chain processes in terms of a dynamic
market environment.
Companies in Turkey are not an exception in this case. It is vital for Turkish companies
that want to gain a strong position in the growing Turkish industrial economy and the
international market to adopt a data and information technology-based approach. Tech-
nological development provides great advantages to businesses, however it also brings
serious risks.
However, the present literature examining blockchain for Turkish companies still has
some shortcomings. For example, the available studies are mostly at the theoretical level
and empirical studies are quite insufficient. To the best of our knowledge, there is no study,
conducted on Turkish firms, which has examined the impact of blockchain technology on
Logistics 2021, 5, 33 3 of 18

supply chain transparency, supply chain flexibility, and trust in suppliers in the relevant
literature. The vast majority of this information is missing; therefore, we suggest that the
following research questions should be investigated:

RQ 1: What kind of relationships exist between blockchain technology and the supply chain dynamics?
RQ 2: Can blockchain technology improve the performance of supply chains by contributing to the
creation of more flexible, more transparent, and more reliable supply chains?
RQ 3: What are the possible implications of blockchain technology on supply chain collaboration and
supply chain integration? To address these questions, we conceptualize a structural equation model
that aims to measure influences of blockchain technology on some critical supply chain dynamics to
understand Turkish firms’ current situation. These dynamics are trust, transparency, and flexibility.
This research will give us a clearer understanding of the effects of blockchain technology on the
abovementioned supply chain dynamics.

This paper’s content is organized as follows. Section 2 of the study summarizes the
pertinent literature on blockchain technology, its relationships to research variables, and
the formulation of study hypotheses. Section 3 discusses the sample selection process,
the questionnaire, the data collection stages, and the analysis methods used in the study.
Section 4 presents the analysis findings with tables and figures. Section 5 discusses the
findings, considering the pertinent literature. Finally, Section 6 summarizes the study’s
implications and limitations and makes some recommendations for future research.

2. Literature Review and Hypotheses Development

2.1. Blockchain Technology
In the summer of 2008, Nakamoto unveiled the potential of blockchain technology.
Nakamoto has completed a bitcoin network transaction among stakeholders [9]. However,
blockchain is not limited to cryptocurrency and capital markets. Blockchain technology
has wide-ranging applications such as smart contracts, network security, and privacy [14].
Blockchain is a distributed database that stores ever-growing lists of records, given the
name of “blocks”. Every block is added to the next in the chain, and each transaction is
put in a separate block. As a result, the term “blockchain” has arisen from the overall
process [15]. Blockchain is a record-keeping system. It stores records regarding transactions
shared between stakeholders across all computers in its network. Blockchain is considered
a list of interconnected blocks in which each block contains a series of transactions. Each
block in the blockchain has both its hash value and that of the previous block (referred to
as the master block), and therefore each block is linked back to the master block, forming a
“chain” towards the first block [16]. Each transaction in the chain is protected by a digital
signature and a cryptographic hash function. The following block establishes a connection
with the previous block through its hash [17]. Thus, because multiple nodes manage
transaction records, the possibility of changing these records is virtually eliminated. This
feature, called immutability, is one of the essential advantages of blockchain of which many
industry applications aim to take advantage [9].
Blockchain was first seen in the cryptocurrency market, where this technology was
expected to support transactions but has since performed better than predicted in this area
and is expanding to other areas. Regarding the key features of blockchain technology, it
should be noted that each block has a unique hash (hash, check, account, address hash)
number and also carries the hash of the previous block. Another essential feature is that
the timestamp is present, which is to record the blocks’ duration. Recording the transaction
date and time provides integrity, stability, security, and reliability, among other features [18].
Real-time databases with self-generated infrastructure run on a distributed peer-to-to-peer
network and handle operations within minutes with mathematical algorithms. This form
of identification does not require the use of third-party verification [15]. In the blockchain,
verification is decentralized and is carried out through the nodes connected to each block.
A node is a client with a copy of the blockchain and can add data to the current block. To
Logistics 2021, 5, 33 4 of 18

sign a transaction on the blockchain, a public key and a private key are generated for each
user [17].
Collaborative environments are often based on trust and information sharing, two
important interrelationships directly related to information technology. Blockchain tech-
nology can serve as a convenient intermediary for relationships between firms that are not
yet established or run at high costs due to a lack of trust [19]. Blockchain technology can
also provide greater visibility across all supply chains [18].
Blockchain technology has changed the way the administrative control mechanism is
regulated and maintained digitally. In the blockchain, data are transformed into digital
codes, stored in shared databases, have a higher transparency, and the risk of deletion and
revision is limited. The secret power of the blockchain lies in every deal, payment, and
all kinds of commercial and interactive activities with digital recording. With blockchain
technology, trust is shifted to computer codes by disabling human and traditional inter-
mediaries in verifying transactions [20]. When multiple changes are made simultaneously
on multiple computers, it eliminates the possibility of conflicting versions of the same
data in a distributed database. Both distributed databases and blockchains use multiple
computers for operations and administrative procedures can be compared. Banking is
primarily conducted through physical letters of credit, and the intermediaries used ensure
the global economy’s flow. Due to global financial crises, financial supply chains need to be
redesigned in the banking sector [21]. Blockchain technology can revolutionize the global
supply platform by replacing intermediaries and eliminating paperwork.

2.2. Blockchain Technology and Supply Chain Transparency

Transparency is defined as the most straightforward and transparent circulation of
information inside and outside the company. It is the timely and complete disclosure of all
information regarding transactions to all stakeholders [22]. It is also related to outsiders’
perception of the working system [23]. In a broad sense, transparency refers to the openness
of information in a way that makes it easier to see what actions have been or are being
performed [24].
Transparency is a term that addresses the overall visibility of the supply chain. The
transparency of a supply chain is the measure for all stakeholders to access, in a com-
mon understanding, information about the product they request and to see and acquire
it without delay, or a loss [25]. Transparency in the supply chain is primarily based on
information about products moving along the chain. Firms develop the ability to proac-
tively communicate with their stakeholders to gain visibility and traceability in supply
chain operations [26]. Thus, they ensure the visibility and accessibility of information
about products, services, financing, and information flow from the manufacturer to the
customer [27]. In this way, stakeholder feedback can be included in the chain to improve
supply chain performance. Furthermore, product history can be traced throughout the
supply chain, and a clear picture of current activities can be shown. Companies can reduce
uncertainty in the public markets by articulating core values to face environmental or social
issues by being transparent [28].
Transparency provides ways to reduce the risk for supply chain members by allowing
full-time tracking of products in the supply chain [29]. Companies must provide trans-
parency to regain customers’ trust and better ideas and impressions of the manufacturer’s
supply chain violations and understand its product’s attention and value and how envi-
ronmental conditions may affect a product [30]. Transparency in a supply chain increases
customer satisfaction and guides companies by providing quality feedback, growing sales,
and creating more effective initiatives. In this way, it is known where the products are
produced, processed, and by which route they are delivered [31].
Supply chain transparency can facilitate voluntary ethical code (formal) commitments
(i.e., laws and ethical sourcing standards). It is asserted to be critical; companies cannot
offer transparency in supply chains because supply chains tend to be neglected [32].
Logistics 2021, 5, 33 5 of 18

Many stakeholders have high hopes for blockchain due to its new features such as
real-time information sharing, security, accountability, immutability, and transparency [33].
With its proof-of-work and distributed database structure, blockchain technology allows
transparency to be improved. Using real-time distributed data sharing enables stakeholders
to identify quality, location, transaction, and procedural data [23]. Transparency and relia-
bility are obtained through a series of linked blocks that can be tracked on the blockchain.
Each block has a separate ID, and the hash of the previous block is found in the blockchain.
These use cases of blockchain enable product tracking, allow full product verification and
product authorization throughout the entire transactions, and provide end-to-to-end audits
based on permissions throughout the organization [34]. Blockchain reduces opportunis-
tic behavior among trading partners in information tampering, corruption, fraud, and
deception. Blockchain provides transparency in transactions between trading partners,
thereby instilling and increasing trust [35]. Blockchain accelerates product and transaction
transparency by developing an effective tool for strategic planning and better relationships
between suppliers, customers, outsourcing, 3PL, and subcontractors [33]. It can change the
supply chain into being more efficient and transparent [15].
Transparency in the supply chains, which depends on the use of blockchain technology,
is also crucial, because trust in supply chain actors is typically low due to the supply
chain’s multi-tier nature [36]. Blockchain technology can help build trust and reputation by
bringing transparency into the supply chain. A large-scale blockchain solution is capable
of completely reworking an entire network’s reputation management and detecting fraud.
The blockchain consensus provides a strong foundation for the unity of perspective and
the ability to achieve greater transparency. Establishing a decentralized supply chain based
on blockchain technology instead of a centralized one is significantly more efficient and
transparent [37].
Blockchain solves two main issues in the supply chain based on transparency, traceabil-
ity, and transaction data irreversibility. These two issues are (1) difficulty and inadequacy
to prove and claim responsibility due to insufficient information transparency; and (2)
counterfeit and inferior quality products that cannot be eliminated due to the multi-zone
and long-term characteristics of logistics [38].
Blockchain allows for better tracking and reporting, and transparency in logistics,
resulting in improved delivery timelines. With a wide distribution of supply, there is an
increased risk of conflict, mismatch, and inconsistency in the traditional supply chains.
Blockchain technology is helpful in this context. GPS-based vehicle tracking devices can be
used with blockchain. Such devices can provide data for the Blockchain, and these data
cannot be overwritten. Blockchain is great for logistics when vehicle location tracking is
involved because it reduces costs and increases efficiency. [35].
Blockchain technology offers great potential for the manufacturing industry. It pro-
vides a guaranteed degree of security, transparency, and stability that no central data
storage technology can provide. In terms of the criteria examined, blockchain can outper-
form traditional, centralized solutions and offer promising results, especially in terms of
organizational and economic criteria [39].
Therefore, the following hypothesis has been formed:

Hypothesis 1 (H1). Blockchain technology utilization significantly affects supply chain transparency.

2.3. Blockchain Technology and Supply Chain Flexibility

Contemporary supply chains operate in a more complex, dynamic, and uncertain
business environment than ever before. Exaggerated customer expectations of product
diversity have shortened product life cycles, and variable demand calls for flexibility in
supply chains to necessitate improvement. Supply chain flexibility allows the company and
its supply structures, processes, resources, and management systems to adapt to changes
in the environment [40].
Logistics 2021, 5, 33 6 of 18

Flexibility may be defined as an ability to meet and respond to diverse customer

needs to gain a competitive advantage [41]. Continuously changing to highly ambiguous
situations is seen as a major factor in business/industry. Governments can also utilize
flexibility in the field of information to adapt and respond quickly to change due to the
absence of good information [42]. Creating a flexible supply chain is key to achieving a
sustainable competitive advantage in today’s environment, characterized by dynamism,
uncertainty, and unpredictability [43]. A flexible supply chain improves the delivery
process and quickly transports products to market in required quantities [44]. It is one of
the prime mechanisms to handle the challenging environment in today’s world, where
business transactions are becoming more volatile and global. Flexibility is achieved when a
firm can effectively respond to and adapt to disruptions and demand changes across the
entire supply chain against its competitors to meet customer needs. Rapid economic and
technological development calls for increased flexibility in both the internal (marketing
and manufacturing) and external (supply and distribution) supply chains [41]. Companies
with flexible supply chains can respond faster in uncertain situations and improve their
ability to present their products and services quickly and effectively [45].
In the globalizing world, competition has expanded across the entire supply chain, not
just on a company basis. Therefore, supply chain members need to restructure themselves
to balance their organizations’ responsiveness with the market changes by increasing
their flexibility [46]. In today’s economic environment, firms outsource some of their
business processes to ensure supply chain flexibility, which often results in the loss of
control and visibility of various logistics operations. Thanks to digital technologies, the
visibility of integrated transportation and logistics systems will be achieved at all goods
delivery stages, from manufacturers to end-users [47]. Firms need to share information
directly to be immediately applied to each firm in the chain to provide supply chain
flexibility. Different information is needed to ensure that the chain can act as a whole.
Therefore, information transferred from one organization to another should be helpful and
simultaneously available to other parties in the chain [48].
Blockchain technology is suited to serve customers by facilitating tracking and tracing
the various stages of an order’s production to delivery and adjusting quickly. The appli-
cations brought by blockchain technology can only be realized at specific contact points
in the network with all relevant parties’ acceptance. Thus, data security can be controlled
for all supply chain transactions [49]. Blockchain can increase supply chain visibility and
enable real-time data sharing on the network. Thus, it can support supply chain flexibility
strategies by reducing the number of stakeholders affected by an outage [19]. Blockchain
can rapidly integrate all supply chain processes. Blockchain technology can improve predic-
tions and manage demand, leading to a more realistic supply and inventory management.
Furthermore, blockchain can enable all design-related documents to be shared and used.
Thus, improved decision-making is available throughout the supply chain, because quality
documents can be provided to all participants [35].
Therefore, the following hypothesis has been formed:

Hypothesis 2 (H2). Blockchain technology utilization significantly affects supply chain flexibility.

2.4. Blockchain Technology and Trust in the Supply Chain

As trade/industry networks become more complex in modern societies, firms in the
network may be forced to interact with other companies they do not know [50]. Trust
between firms is crucial to the supply chain’s success, and optimum information sharing is
necessary to ensure trust. Every stakeholder in the supply chain seeks power and wants
to avoid uncertainty risks by sharing information, thus tackling ethical non-compliance,
lack of communication, and infidelity [15]. In order to lower the possibility of trust being
damaged in the supply chain, connectivity and vulnerabilities must be identified and
assessed. The first step in the risk assessment process is to identify the supply chain
partners. Next, a supply chain map showing the relevant information flows is created.
Logistics 2021, 5, 33 7 of 18

Identifying these flows (e.g., freight, containers, capital, documents) helps to predict
potential bottlenecks and the risk and attack levels, including possible failures due to cyber
threats [51].
Many factors drive blockchain technology for information sharing in the supply chain,
but trust development is one of the most important [52]. In a blockchain, all transactions
are logged in a timestamped, observable manner, and confirmed. Thus, transactions cannot
be changed or deleted once all relevant parties approve them. Regarding data integrity
and security, it has the following characteristics: more security, traceability, efficiency, and
transparency in supply chain transactions can be obtained through the use of blockchain
technology [3]. Records cannot be changed on the blockchain, meaning all supply chain
members’ transactions and decisions are recorded and documented on the blockchain.
All supply chain members are permanently aware of the accuracy of these transactions.
In addition, when firms’ activities lead to controversial business results, supply chain
members monitor them and take this into account in their decisions and adjust their
activities accordingly when finalizing future transactions [53].
Another factor that creates trust in the supply chain is smart contracts that can be
used with blockchain technology. Blockchain applications and smart contracts can be used
in various areas, from insurance returns to financial transactions, corporate transactions,
traceability of products, and intellectual property protection. For this reason, the number
of blockchain and smart contract applications gradually continues to increase [54]. Smart
contracts can be applied in short supply chains with multiple tiers of suppliers and sub-
contractors. Automation can deliver accepted contracts to specified parties, application
upgrades based on agreed changes, vent occurrences, and copyright submissions [55].
When a smart contract is invoked, nodes in the blockchain run it locally with parameters.
The result is accepted and added to the blockchain if it can be mutually verified [56]. A
smart contract is a well-defined and unchanging program. All the shared ledger trans-
actions must follow strict procedures before they are posted (database log) [11]. A smart
contract is a script which has been registered on a blockchain. Once this file has been
submitted through the blockchain and validated, predefined transactions will be executed.
The terms of a smart contract are published on the blockchain; therefore, all parties can be
assured that the contract will always be executed as agreed, meaning that there are fewer
trust issues to contend [57].
Blockchain improves operations in many areas of a firm, including the supply chain,
through secure data exchange in a distributed manner. The adoption of blockchain technol-
ogy can also increase the trust of the customer. It ensures trust throughout the supply chain
and, therefore, improves the entire supply chain’s performance [15]. Blockchain technology
features such as reliability, traceability, and data accuracy mean less need for intermediaries
that cause insecure environments [58]. The use of blockchain enables end-to-end data
calibration across various supply chains, increases the security of stored data, and ensures
the real-time acquisition of all information [34]. The incorporation of blockchain technology
enables monitoring of individual suppliers’ compliance status while assuring security for
sensitive documents [59]. Reliability in supply chain functions and practices such as close
relationships with suppliers and customers, outsourcing, and just-in-time procurement,
can be improved with Blockchain [33]. Three levels of security are incorporated into the
blockchain system. Decentralization ensures that data will not be changed in any way.
Secondly, cryptographic technology secures data security while also ensuring that data
cannot be altered without knowing the correct secret key. Consensus protocols protect the
entire network by requiring that all nodes have uniform protocols [60].
Conflicting goals between buyers and suppliers in the supply chain is a factor that
negatively affects the trust in supply chains. If blockchains are used to record supply chain
data without errors, the relevant supply chain members will be held accountable, and
disclosure issues will be resolved. The negative impact of conflicting objectives will be
minimized, increasing trust in supply chains [17].
 protocols protect the entire network by requiring that all nodes have uniform protocols
[60].
Conflicting goals between buyers and suppliers in the supply chain is a factor that
negatively affects the trust in supply chains. If blockchains are used to record supply chain
data without errors, the relevant supply chain members will be held accountable, and
Logistics 2021, 5, 33 8 of 18
disclosure issues will be resolved. The negative impact of conflicting objectives will be
minimized, increasing trust in supply chains [17].
Blockchain technology ensures that all transaction data can be accessed at any time
and Blockchain
from anywhere. Each event
technology ensureslogthat
creates an automatic
all transaction dataproof
can beof accessed
each block’s history,
at any time
location,
and from and ownership
anywhere. Eachinevent
the chain. Each an
log creates firm in the blockchain
automatic technology
proof of each block’s network
history,
maintainsand
location, theownership
database orinledger’s security
the chain. Eachandfirm integrity, because data
in the blockchain previously
technology entered
network
maintains the database
on the Blockchain or ledger’s
can neither securitynor
be deleted and integrity,
changed because
[61]. Thus,data previously
a more entered
secure data pro‐
on the Blockchain can neither be deleted nor changed [61]. Thus, a more secure
cess will increase consumers’ trust and confidence in transactions throughout the supply data process
will increase
chain. consumers’
Business trustoften
transactions and confidence in transactions
involve sensitive businessthroughout
information; thetherefore,
supply chain.
faith
Business
and trusttransactions
in data sharingoftenareinvolve
crucial sensitive
for supplybusiness information; therefore, faith and
chain actors.
trust in
In data sharing
contrast are crucial
to public for supply
blockchains, chain actors.blockchains grant greater privacy,
permissioned
In contrast
auditability, andtoadministrative
public blockchains, permissioned
efficiency. blockchains grant
The blockchain‐based systemgreater privacy,
also maintains
auditability, and administrative efficiency. The blockchain-based system
data integrity and security. A blockchain will serve as a better solution to data manage‐ also maintains
data
ment,integrity
becauseand security.
it will A blockchain
be resistant to thiswill
kindserve as a better
of attack. solution to data
The distributed management,
ledger technology
because it will be resistant to this kind of attack. The distributed
of blockchain provides highly secure and unchanging supply chain data [55]. ledger technology of
blockchain provides
Therefore, highly secure
the following and unchanging
hypothesis supply chain data [55].
has been formed:
Therefore, the following hypothesis has been formed:
Hypothesis 3 (H3): Blockchain technology utilization significantly affects supply chain trust.
Hypothesis 3 (H3). Blockchain technology utilization significantly affects supply chain trust.
The research model in which research hypotheses are shown is displayed in Figure
1. The research model in which research hypotheses are shown is displayed in Figure 1.

Supply Chain
Transparency

Blockchain Technology
H2 Supply Chain Flexibility
Utilization

Trust in Supplier

Figure1.1.Research
Figure Researchmodel.
model.

3.3. Materials
Materials and
andMethods
Methods
3.1.
3.1. Sample and DataCollection
Sample and Data Collection
The
Theempirical
empiricalanalysis
analysisused
useddata obtained
data from
obtained 84 companies
from thatthat
84 companies are listed in theinfirst
are listed the
1000 exporting firms declared in 2019 by the Turkey Exporters Assembly. Before
first 1000 exporting firms declared in 2019 by the Turkey Exporters Assembly. Before collecting
col‐
survey data, we interviewed companies in various ways (face to face, mail, phone) and
lecting survey data, we interviewed companies in various ways (face to face, mail, phone)
asked if they were using blockchain technology and would like to participate in our study.
and asked if they were using blockchain technology and would like to participate in our
Blockchain is a technology that is still in widespread use; therefore, we did not expect
study. Blockchain is a technology that is still in widespread use; therefore, we did not
the sample size to be very large. As a result of our interviews, 88 companies stated that
expect the sample size to be very large. As a result of our interviews, 88 companies stated
they used the technology and wanted to participate in the study. We launched a survey
that they used the technology and wanted to participate in the study. We launched a sur‐
application in November 2020 and collected data by sending the questionnaire via email
vey application in November 2020 and collected data by sending the questionnaire via
from these 88 companies through surveys. Four of the questionnaires we obtained were
not suitable for analysis; therefore, we removed them from the dataset, and thus the sample
of our study consisted of 84 companies. Although this sample size is small, we believe
that the research sample is homogeneous in terms of sectors. Sectoral information of the
companies participating in the study is shown in Table 1, which is based on statements
from the companies.
Logistics 2021, 5, 33 9 of 18

Table 1. Sectoral information.

Sector Frequency %
Packaging 9 10.7
Recycling 1 1.2
Pine 2 2.4
Environmental Technologies 1 1.2
Durable Goods 1 1.2
Iron and Steel 1 1.2
Electric–Electronic 2 2.4
Industrial Kitchen 2 2.4
Food 18 21.4
Carpet 2 2.4
Non-Durable Goods 4 4.8
Building 3 3.6
Paper 1 1.2
Chemistry 4 4.8
Machine 2 2.4
Printing Press 2 2.4
Furniture 3 3.6
Forest Products 1 1.2
Automotive 1 1.2
Petrochemical 3 3.6
Health 4 4.8
Solar Energy 1 1.2
Textile 9 10.7
Telecommunication 1 1.2
Cleaning 6 7.1
Total 84 100.0

3.2. Measurement Instrument

The questionnaire used in the study consisted of 2 parts; the first part included
questions about some demographic characteristics of the participating companies. In the
second part, there were research questions to measure blockchain technology utilization
(BTU), supply chain transparency (SCT), supply chain flexibility (SCF), and trust in supplier
(TIS) variables, on a 1–5 Likert scale, with informants asked to indicate their degree of
agreement with statements (1—strongly disagree, 3—neither agree nor disagree and 5—
strongly agree). The questionnaire was adopted from the studies listed below to measure
four variables (see Appendix A):
1. Blockchain technology utilization (BTU); Zelbst et al. (2019) [29]; based on seven
items;
2. Supply chain transparency (SCT); Zelbst et al. (2019) [29]; based on five items;
3. Supply chain flexibility (SCF); Um et al. (2017) [62]; based on six items;
4. Trust in supplier (TIS); Wang et al. (2014) [63] (two items) and Cho et al. (2018) [64]
(three items); based on five items.

3.3. Analysis Method

In this study, we investigated the effect of using blockchain technology in manufac-
turing companies on supply chain flexibility, supply chain transparency, and trust in the
supplier. In the analysis of the data, we used the PLS-SEM method, which can be used
in such cases and produces consistent results; because the sample size was small, it was
not suitable for analysis with other methods. PLS-SEM provides solutions with small
sample sizes when models contain a large number of constructs and items. Technically,
this is accomplished through the use of the PLS-SEM algorithm, which computes mea-
surement and structural model relationships independently of one another, rather than
concurrently. Briefly, the algorithm computes partial regression relationships between the
Logistics 2021, 5, 33 10 of 18

measurement and structural models via separate ordinary least squares regressions, as the
name implies [65].

4. Results
The analysis of the study started with testing the validity and reliability of the mea-
surement instrument. By creating a measurement model to test the questionnaire’s validity
and reliability in the Smart-PLS program, internal consistency reliability, convergence
validity, and dissociation validity coefficients were examined. In determining the internal
consistency reliability, composite reliability (CR) coefficients were calculated. In investi-
gating the convergent validity, average variance extracted (AVE) values explained with
factor loads were used. It was expected that the factor loads were ≥0.70, the combined
reliability coefficients were ≥0.70, and the explained average variance value was ≥0.50 [66].
Cronbach’s α coefficient was used to evaluate the reliability of the scales separately. A
coefficient value of ≥0.70 indicates that the scales are at an acceptable level of reliability.
Table 2 shows the validity and reliability results of the measurement model.

Table 2. Measurement model validity and reliability.

Variables Items λ α rho_A CR AVE

Blockchain BTU1 0.911
Technol- BTU2 0.945
ogy BTU4 0.830 0.962 0.964 0.962 0.834
Utilization BTU5 0.894
(BTU) BTU6 0.979
SCF1 0.912
Supply SCF2 0.967 0.951 0.955 0.947 0.751
Chain SCF3 0.795
Flexibility SCF4 0.756
(SCF) SCF5 0.747
SCF6 0.987
Supply SCT2 0.835 0.873 0.885 0.867 0.625
Chain SCT3 0.629
Trans- SCT4 0.732
parency SCT5 0.934
(SCT)
TIS1 0.814
Trust in
TIS3 0.879 0.860 0.876 0.867 0.622
Supplier
TIS4 0.790
(TIS)
TIS5 0.656

Hair et al. [66] states that factor loads should be ≥0.708. The authors also suggest that
expressions with factor loads between 0.40 and 0.70 should be excluded from the model in
case of an increase in AVE or CR values. For this reason, the third and the seventh items of
the blockchain technology utilization (BTU3), (BTU7), the first item of the supply chain
transparency (SCT1), and the second item (TIS2) of the trust in supplier were excluded
from the analysis. The calculated AVE and CR values were above the threshold values;
therefore, the third item of the supply chain transparency (SCT3) and the fifth item of the
trust in supplier (TIS5) were not removed from the scale, with factor loads below 0.708.
As a result, α coefficients were obtained between 0.860 and 0.964, the CR values between
0.867 and 0.962, and the AVE values between 0.622 and 0.834. These findings show that the
scales meet the conditions for convergence validity.
Fornell and Larcker criteria and heterotrait–monotrait ratios (HTMT criteria) were
examined to verify the scale’s discriminant validity. Findings regarding the Fornell and
Larcker criteria are provided in Table 3.
Logistics 2021, 5, 33 11 of 18

Table 3. Discriminant validity (Fornell and Larcker criteria).

BTU SCF SCT TIS

BTU 0.913
SCF 0.422 0.866
SCT 0.490 0.502 0.791
TIS 0.441 0.579 0.592 0.789

According to Fornell and Larcker [67], the AVE values’ square root should be higher
than the correlations between the structures included in the study. When Table 3 is
examined, it is seen that the square root of the AVE values of each latent variable is
greater than the correlation coefficients of the variables, which means that the model meets
the Fornell-Larcker criterion for discriminant validity.
Findings regarding the HTMT criteria are given in Table 4.

Table 4. Discriminant validity (heterotrait–monotrait ratio).

BTU SCF SCT TIS

BTU
SCF 0.414
SCT 0.482 0.490
TIS 0.445 0.589 0.604

The HTMT criterion proposed by Henseler, Ringle, and Sarstedt [68] expresses the
ratio of the average correlations of the expressions of all variables in the study to the
geometric means of the correlations of the expressions of the same variable. The authors
stated that if the structures to be measured are theoretically close to each other, the HTMT
coefficient should be below 0.90. If they are theoretically distant from each other, it should
be below 0.85. When Table 4 is examined, it can be observed that HTMT coefficients were
realized below the threshold values.
Before analyzing the structural equation model, correlation analysis was conducted to
assess the direction and severity of the relationship between variables. Analysis results are
given in Table 5.

Table 5. Correlation analysis.

Mean Std. Dev. Skewness Kurtosis BTU SCT SCF ST

BTU 3.2548 1.16468 −0.578 −0.573 1
SCT 3.4375 0.87886 −0.304 0.002 0.446 ** 1
SCF 3.2937 1.09233 −0.322 −0.782 0.397 ** 0.451 ** 1
TIS 3.8601 0.75983 −0.039 −0.568 0.402 ** 0.527 ** 0.542 ** 1
*** p < 0.001, ** p < 0.05, * p < 0.10.

Correlation analysis results showed that there was a significant relationship between
the variables in the same direction at the level of 0.01 significance. Additionally, skewness
and kurtosis values were found to be between −2 and +2. This finding shows that the
scales had a normal distribution.
The structural equation model is given in Figure 2.
 Correlation analysis results showed that there was a significant relationship between
the variables in the same direction at the level of 0.01 significance. Additionally, skewness
Logistics 2021, 5, 33 and kurtosis values were found to be between −2 and +2. This finding shows that the scales 12 of 18
had a normal distribution.
The structural equation model is given in Figure 2.

SCT2 SCT3 SCT4 SCT5

BTU1

Supply Chain
Transparency TIS1

BTU2

TIS3
Blockchain
Trust in
BTU4 Technology 0.444 (4.374)
Supplier
Utilization
TIS4

BTU5
Supply Chain TIS5
Flexibility

BTU6

SCF1 SCF2 SCF3 SCF4 SCF5 SCF6

Figure 2. Structural equationFigure

model.2. Structural equation model.

Some other values that are

Some other important
values that are in evaluating
important the modelthe
in evaluating need to be
model checked.
need to be checked. The
The model’s model’s
explanatory power (R
explanatory power (R2 ), estimation
2), estimation fit (Q2), fit
and (QF22),value 2 value indicate
and Findicate the effect
the effect size.
size. Research model coefficients
Research are given
model coefficients areingiven
Tablein6.Table 6.

Table 6. Research model

Table coefficients.
6. Research model coefficients.

Variables Variables VIF VIFR

2
R2 F
2
F2 Q
2
Q2
SCF 1.00
SCF 0.178
1.00 0.216
0.178 0.123
0.216 0.123
BTU SCT
BTU 1.00
SCT
0.240
1.00
0.317
0.240
0.125
0.317 0.125
TIS 1.00 0.194 0.241 0.107
TIS 1.00 0.194 0.241 0.107

When the R2 values are examined, it can be seen that 17.8% of the use of blockchain
When the 2 values are examined, it can be seen that 17.8% of the use of blockchain
technology is explained by Rsupply chain flexibility, 24% by supply chain transparency,
and 19.4% bytechnology
the trust in is explained
supplier. Theby supplyprediction
model’s chain flexibility,
power for 24% theby supply chain
endogenous var‐transparency,
iables could be explained in the structural model, calculated by blindfolding analysis.the
and 19.4% by the trust in supplier. The model’s prediction power for Asendogenous
variables could be explained in the structural model, calculated
a result of the analysis, the predictive power coefficient (Q2) was more significant than by blindfolding analysis.
As athat
result 2
zero, indicating theofmodel
the analysis, the predictive
could predict power variables
endogenous coefficient[66].
(Q )ForwasFmore significant than
2 values,

0.02 is considered weak, 0.05 medium, and above 0.7 high [69]. In the research model, FFor
zero, indicating that the model could predict endogenous variables [66]. 2 F2 values,
0.02 is considered
values were determined weak, level.
at a medium 0.05 medium,
According andtoabove
Hair et0.7
al.high
[66],[69]. In the
the VIF research model, F2
(variance
values
inflation factor) were determined
coefficients should beatbelow
a medium level. According
the threshold value oftofive
Hairtoetavoid
al. [66], the VIF (variance
colline‐
arity problems among the variables. VIF coefficients were below five; therefore, it could collinearity
inflation factor) coefficients should be below the threshold value of five to avoid
problems among the variables. VIF coefficients were below five; therefore, it could be
be confirmed that there was no collinearity problem between variables.
confirmed that there was no collinearity problem between variables.
The impact coefficients of the research model are given in Table 7.
The impact coefficients of the research model are given in Table 7.
Logistics 2021, 5, 33 13 of 18

Table 7. Research model coefficients.

Variables β Standard Dev. T Stat. p-Values Conf. Int.

BTU→SCF 0.420 0.116 3.595 0.000 0.182–0.634
BTU→SCT 0.496 0.097 5.029 0.000 0.296–0.677
BTU→TIS 0.447 0.103 4.296 0.000 0.224–0.636

As a result of the analysis, it was found that blockchain technology utilization signifi-
cantly affects supply chain flexibility and transparency. It has also been found that the use
of blockchain technology positively affects the trust of suppliers. The fact that T values
were obtained above 1.96 and that the confidence interval’s lower and upper values did
not include zero values support the significant effect. As a result of the analysis, the H1,
H2, and H3 hypotheses were supported.

5. Discussion: Blockchain Technology and Supply Chain Integration in Terms of

Supply Chain Dynamics
In all their operations, companies first try to plan how they can cope with uncertainty
and risks. Moreover, they are aware of the new opportunities they can seize, thanks to their
information. Businesses that can plan their operating cycles with maximum consistency in
the market anticipate the negativities they may encounter and take a proactive approach
to gain a sustainable competitive advantage and continue their existence in this way.
Therefore, it is an indisputable fact that information is vital to a business. At this point,
blockchain technology is seen as an opportunity to process data and information, which
are some of the most important assets of companies, more effectively, and to store them
in a more robust security system with reduced costs. The fact that interconnectedness
has increased considerably thanks to digital technologies can improve cooperation and
integration in supply chains. It is also a separate issue to protect this commitment against
malicious initiatives.
In this context, the idea that blockchain technology can benefit companies motivated
us to do this research. In this study, we wanted to investigate how transparency, flexibility,
and trust, which are among the main requirements of conducting a more efficient supply
chain process, will be affected by new information technologies. We think that these
dynamics will increase the level of cooperation and integration in supply chains. The more
supply chain stakeholders can trust each other, the more information they can share, the
more information they share, a more transparent supply chain can be formed, and better
integration can be achieved. The level of cooperation can increase, and thus the flexibility
of the supply chain can increase.
The first finding of the research was that blockchain technology would increase supply
chain transparency. This finding coincides with the findings in the literature [15,33–35].
Transparency is one of the most critical problems in supply chains in effective and robust
cooperation and integration. It is stated in the literature that transparency enables proactive
communication and collaboration in supply chains [26], providing visibility of product flow
to customers [27]. Thus, stakeholder feedback is included in the chain more effectively [28].
Increasing stakeholders’ role in the processes can help companies carry out more effective
open-innovation activities [70]. Concurrently, transparency can contribute to improving
companies’ customer-involved product design processes. Enhancing product design pro-
cesses enables companies to gain a sustainable competitive advantage [71]. Therefore,
companies should take advantage of blockchain technology to increase transparency in
their supply chains.
Secondly, we found that blockchain technology increases supply chain flexibility. More
flexible supply chains can better meet customer demands [41] and better tackle the volatile
and uncertain environments [43]. Real-time data sharing will be enabled in supply chains
using blockchain technology [19]. The business environment is more complicated than
ever; therefore, blockchains are being used to rapidly integrate all of the supply chain
processes. Decision processes such as demand forecasting, inventory management [35],
Logistics 2021, 5, 33 14 of 18

and determination of key performance indicators [72] can be made more efficient and have
a positive impact on a company’s sustainability.
The third finding of the research showed us that blockchain technology is a useful
tool to build trust in supply chains. Inter-firm trust is crucial for the success of supply
chains [15] because effective collaboration which improves sustainability performance
requires a high level of information sharing [73] and trust in each other [52]. Especially
in cases of outsourcing, such as 3 PL, companies have to earn trust based on trust. This
finding of our study confirms similar results in the literature [15,33,34,58–60]. Firms have
to build trust to increase collaboration and integration. Therefore, companies can benefit
from blockchain technology in both establishing and maintaining trust.

6. Conclusions
Blockchain technology is perhaps one of the concepts which are most prevailing today.
With digitalization becoming an ordinary (even necessary) phenomenon, we have started
to digitize our assets. We call digitalization the transformation of facts into ones and zeros
(data) that can be stored, transferred, analyzed in a computer environment. We have started
to explore ways to protect all the assets that we can digitize (convert into data) with this
technology. Therefore, blockchain technology was first developed to ensure digital asset
security (i.e., cryptocurrency).
In this study, the effect of blockchain technology utilization on supply chain flexibility,
transparency, and trust has been investigated. Blockchain technology is approached with
suspicion because it is very new and not known by companies. Therefore, companies can
see their investments in this technology as huge risks. In this research, we tried to reveal
some of the benefits that the technology in question can provide to companies. For this
purpose, we determined transparency, flexibility, and trust, which are important issues for
supply chains, as dependent variables of the research.
As a result of our analysis, we found that blockchain technology utilization signifi-
cantly affects transparency, flexibility, and trust in supply chains. The relevant literature
emphasizes that companies can increase customer satisfaction, and consequently customer
loyalty, by providing more transparent supply chain processes. Moreover, supply chain
transparency can improve the level of supply chain cooperation by increasing trust between
companies. Additionally, supply chain flexibility can be an essential tool for companies to
gain a sustainable competitive advantage. According to the research results, blockchain is
an important and valuable technology in terms of all three variables. We believe that this
research will help companies alleviate their doubts about blockchain technology.
In the literature review, conducted at the beginning of this study, we could not find
a study examining blockchain technology in the context of the abovementioned supply
chain dynamics. In this respect, we believe that the research model established in our
research is original, and we hope that this study will be an essential contribution to
the existing literature. We also believe that the findings of the study will benefit all
manufacturing companies.
We can state the following about the study’s limitations and further research: This
study’s first limitation is that sample frame and size. We collected data from the companies
listed in the first 1000 exporting firms declared in 2019 by the Turkey Exporters Assembly. In
the research, we only collected data from companies using blockchain technology to ensure
irrelevancy. Therefore, we could not increase the sample size more. When this technology
becomes more widespread in the future, studies with larger samples should be carried
out. Moreover, carrying out similar studies on companies with headquarters in other
countries may contribute to better understanding the issue and performing comparisons
between countries.
Furthermore, we acknowledge the high variability in responses among companies in
the study. Thirdly, this research focused on manufacturing companies. For future research,
it is proposed to conduct studies that focus on all types of companies. It is recommended
to test the current research model, especially in the maritime transport sector, where
Logistics 2021, 5, 33 15 of 18

blockchain technology is important. Additionally, in this study, the PLS-SEM method

was used to analyze the data. The reason for using this method was that the number of
samples could not provide the required sufficiency in other SEM methods. However, in
other studies, the re-examination of the same variables with data mining methods, such as
clustering techniques and support vector machines, will contribute further to the literature
(for methodological information, see Alkahtani et al. [74]). Finally, in this study, there is
an indirect reference to cooperation and integration in supply chains. In future research,
it is recommended to examine the variables of cooperation and integration that were not
included in the model of this research by directly incorporating them into research models.
It is also considered that examining the regulatory effect of advanced technology usage
policies is very important in terms of the relevant literature.

Author Contributions: Conceptualization, B.Y. and I.M.-K.; methodology, B.Y.; software, Ş.Ç.; vali-
dation, I.M.-K., Ş.Ç. and R.Č.; formal analysis, B.Y.; investigation, I.M.-K.; resources, Ş.Ç. and R.Č.;
data curation, B.Y.; writing—original draft preparation, B.Y.; writing—review and editing, I.M.-K.
and R.Č.; visualization, R.Č.; supervision I.M.-K. All authors have read and agreed to the published
version of the manuscript.
Funding: This research received no external funding.
Institutional Review Board Statement: Not applicable.
Informed Consent Statement: Not applicable.
Data Availability Statement: The data of this study are available from the authors upon request.
Conflicts of Interest: The authors declare no conflict of interest.

Appendix A

Table A1. Measurement instrument.

Blockchain Technology Utilization

We use blockchain technology to securely record transaction data as products move
BTU1
through the supply chain
We use blockchain technology to reduce the amount of time required to complete complex
BTU2
transactions with our supply chain partners
We use blockchain technology to reduce the costs associated with resolving complex
Zelbst et al. (2019) [29] BTU3
transactions with our supply chain partners
BTU4 We use blockchain technology to enhance privacy
BTU5 We use blockchain technology to improve auditability
BTU6 We use blockchain technology to increase operational efficiency
We use blockchain to improve the security of our information systems used to share
BTU7
information among our supply chain partners
Supply Chain Transparency
We have mapped our supply chain and provide the mapping information to our supply
SCT1
chain partners and our customers
Material flows from our suppliers have been mapped and related information is available
SCT2
for our supply chain partners and customers to view
We provide our supply chain partners and our customers with information that allows
Zelbst et al. (2019) [29] SCT3 them to easily determine the specific materials used to make our products and where
those materials are produced
We provide our supply chain partners and our customers with information that allows
SCT4
them to easily determine where materials used in our products originated
We provide our supply chain partners and our customers with information that proves
SCT5 that the materials used to produce our products are responsibly and sustainably sourced
or produced
Logistics 2021, 5, 33 16 of 18

Table A1. Cont.

Blockchain Technology Utilization

Supply Chain Flexibility
SCF1 Changes in the quantity of orders to suppliers
SCF2 Changes in times of orders placed with suppliers
SCF3 Changes in production volume
Um et al. (2017) [62] SCF4 Changes in the production mix
SCF5 Implement engineering change orders in production
SCF6 Alter delivery schedules to meet changing customer requirements
Trust in Supplier
Whenever the major supplier gives us advice on our business operations, we know that
TIS1
Wang et al. (2014) [63] they are sharing their best judgment
TIS2 We believe that the major supplier is sincere
TIS3 Our suppliers have been open and honest when dealing with us
Cho et al. (2018) [64] TIS4 Our suppliers respect the confidentiality of the information they receive from us
TIS5 Our transactions with suppliers do not have to be closely supervised

References
1. Helo, P.; Hao, Y. Blockchains in operations and supply chains: A model and reference implementation. Comput. Ind. Eng. 2019,
136, 242–251. [CrossRef]
2. Heidary Dahooie, J.; Zamani Babgohari, A.; Meidutė-Kavaliauskienė, I.; Govindan, K. Prioritising sustainable supply chain
management practices by their impact on multiple interacting barriers. Int. J. Sustain. Dev. World Ecol. 2021, 28, 267–290.
[CrossRef]
3. Kamble, S.S.; Gunasekaran, A.; Kumar, V.; Belhadi, A.; Foropon, C. A machine learning based approach for predicting blockchain
adoption in supply Chain. Technol. Forecast. Soc. Chang. 2021, 163, 120465. [CrossRef]
4. Dwivedi, S.K.; Amin, R.; Vollala, S. Blockchain based secured information sharing protocol in supply chain management system
with key distribution mechanism. J. Inf. Secur. Appl. 2020, 54, 102554. [CrossRef]
5. Chopra, S.; Meindl, P. Supply Chain Management: Strategy, Planning, and Operation, 6th ed.; global edition; Pearson: Boston, MA,
USA, 2016; ISBN 978-93-325-4823-7.
6. Hansen, J.V.; Hill, N.C. Control and Audit of Electronic Data Interchange. MIS Q. 1989, 13, 403–413. [CrossRef]
7. Lee, H.; Özer, Ö. Unlocking the Value of RFID. Prod. Oper. Manag. 2007, 16, 40–64. [CrossRef]
8. Ellis, S.; Morris, H.D.; Santagate, J. IoT-enabled analytic applications revolutionize supply chain planning and execution. Int. Data
Corp. (IDC) White Pap. 2015, 1–13. Available online: https://www.savi.com/wp-content/uploads/IDC-IoT-enabled-analytics-
applications_final.pdf (accessed on 10 May 2021).
9. Song, J.M.; Sung, J.; Park, T. Applications of Blockchain to Improve Supply Chain Traceability. Procedia Comput. Sci. 2019, 162,
119–122. [CrossRef]
10. Di Vaio, A.; Varriale, L. Blockchain technology in supply chain management for sustainable performance: Evidence from the
airport industry. Int. J. Inf. Manag. 2020, 52, 102014. [CrossRef]
11. Agrawal, T.K.; Kumar, V.; Pal, R.; Wang, L.; Chen, Y. Blockchain-based framework for supply chain traceability: A case example
of textile and clothing industry. Comput. Ind. Eng. 2021, 154, 107130. [CrossRef]
12. Musigmann, B.; von der Gracht, H.; Hartmann, E. Blockchain Technology in Logistics and Supply Chain Management—A
Bibliometric Literature Review From 2016 to January 2020. IEEE Trans. Eng. Manag. 2020, 67, 988–1007. [CrossRef]
13. Queiroz, M.M.; Telles, R.; Bonilla, S.H. Blockchain and supply chain management integration: A systematic review of the
literature. Supply Chain Manag. Int. J. 2019, 25, 241–254. [CrossRef]
14. Lu, Y. Blockchain and the related issues: A review of current research topics. J. Manag. Anal. 2018, 5, 231–255. [CrossRef]
15. Ghode, D.; Yadav, V.; Jain, R.; Soni, G. Adoption of blockchain in supply chain: An analysis of influencing factors. J. Enterp. Inf.
Manag. 2020, 33, 437–456. [CrossRef]
16. Wang, Z.; Wang, T.; Hu, H.; Gong, J.; Ren, X.; Xiao, Q. Blockchain-based framework for improving supply chain traceability and
information sharing in precast construction. Autom. Constr. 2020, 111, 103063. [CrossRef]
17. Pournader, M.; Shi, Y.; Seuring, S.; Koh, S.C.L. Blockchain applications in supply chains, transport and logistics: A systematic
review of the literature. Int. J. Prod. Res. 2020, 58, 2063–2081. [CrossRef]
18. Queiroz, M.M.; Wamba, S.F.; de Bourmont, M.; Telles, R. Blockchain adoption in operations and supply chain management:
Empirical evidence from an emerging economy. Int. J. Prod. Res. 2020, 1–17. [CrossRef]
19. Lohmer, J.; Bugert, N.; Lasch, R. Analysis of resilience strategies and ripple effect in blockchain-coordinated supply chains: An
agent-based simulation study. Int. J. Prod. Econ. 2020, 228, 107882. [CrossRef] [PubMed]
Logistics 2021, 5, 33 17 of 18

20. Esmaeilian, B.; Sarkis, J.; Lewis, K.; Behdad, S. Blockchain for the future of sustainable supply chain management in Industry 4.0.
Resour. Conserv. Recycl. 2020, 163, 105064. [CrossRef]
21. Ferreira, F.A.F.; Meidutė-Kavaliauskienė, I. Toward a sustainable supply chain for social credit: Learning by experience using
single-valued neutrosophic sets and fuzzy cognitive maps. Ann. Oper. Res. 2020. [CrossRef]
22. Kumar, N.; Ganguly, K.K. External diffusion of B2B e-procurement and firm financial performance: Role of information
transparency and supply chain coordination. J. Enterp. Inf. Manag. 2020. [CrossRef]
23. Qian, X.A.; Papadonikolaki, E. Shifting trust in construction supply chains through blockchain technology. Eng. Constr. Archit.
Manag. 2020. [CrossRef]
24. Gold, S.; Heikkurinen, P. Transparency fallacy: Unintended consequences of stakeholder claims on responsibility in supply chains.
Account. Audit. Account. J. 2018, 31, 318–337. [CrossRef]
25. Sunny, J.; Undralla, N.; Madhusudanan Pillai, V. Supply chain transparency through blockchain-based traceability: An overview
with demonstration. Comput. Ind. Eng. 2020, 150, 106895. [CrossRef]
26. Zhu, S.; Song, J.; Hazen, B.T.; Lee, K.; Cegielski, C. How supply chain analytics enables operational supply chain transparency.
Int. J. Phys. Distrib. Logist. Manag. 2018, 48, 47–68. [CrossRef]
27. Modi, D.; Zhao, L. Social media analysis of consumer opinion on apparel supply chain transparency. J. Fash. Mark. Manag. Int. J.
2020. [CrossRef]
28. Morgan, T.R.; Richey Jr, R.G.; Ellinger, A.E. Supplier transparency: Scale development and validation. Int. J. Logist. Manag. 2018,
29, 959–984. [CrossRef]
29. Zelbst, P.J.; Green, K.W.; Sower, V.E.; Bond, P.L. The impact of RFID, IIoT, and Blockchain technologies on supply chain
transparency. J. Manuf. Technol. Manag. 2019, 31, 441–457. [CrossRef]
30. Azzi, R.; Chamoun, R.K.; Sokhn, M. The power of a blockchain-based supply chain. Comput. Ind. Eng. 2019, 135, 582–592.
[CrossRef]
31. Shoaib, M.; Lim, M.K.; Wang, C. An integrated framework to prioritize blockchain-based supply chain success factors. Ind.
Manag. Data Syst. 2020, 120, 2103–2131. [CrossRef]
32. Egels-Zandén, N.; Hulthén, K.; Wulff, G. Trade-offs in supply chain transparency: The case of Nudie Jeans Co. J. Clean. Prod.
2015, 107, 95–104. [CrossRef]
33. Aslam, J.; Saleem, A.; Khan, N.T.; Kim, Y.B. Factors influencing blockchain adoption in supply chain management practices: A
study based on the oil industry. J. Innov. Knowl. 2021. [CrossRef]
34. Dutta, P.; Choi, T.-M.; Somani, S.; Butala, R. Blockchain technology in supply chain operations: Applications, challenges and
research opportunities. Transp. Res. Part E Logist. Transp. Rev. 2020, 142, 102067. [CrossRef] [PubMed]
35. Sheel, A.; Nath, V. Effect of blockchain technology adoption on supply chain adaptability, agility, alignment and performance.
Manag. Res. Rev. 2019. [CrossRef]
36. Wang, Y.; Singgih, M.; Wang, J.; Rit, M. Making sense of blockchain technology: How will it transform supply chains? Int. J. Prod.
Econ. 2019, 211, 221–236. [CrossRef]
37. Kamble, S.S.; Gunasekaran, A.; Sharma, R. Modeling the blockchain enabled traceability in agriculture supply chain. Int. J. Inf.
Manag. 2020, 52, 101967. [CrossRef]
38. Xia, J.; Yongjun, L. Trust Evaluation Model for Supply Chain Enterprises under Blockchain Environment. In Proceedings of the
2017 7th International Conference on Social Network, Communication and Education (SNCE 2017), Shenyang, China, 28–30 July
2017; pp. 634–638. [CrossRef]
39. Herrgoß, L.; Lohmer, J.; Schneider, G.; Lasch, R. Development and Evaluation of a Blockchain Concept for Production Planning
and Control in the Semiconductor Industry. In Proceedings of the 2020 IEEE International Conference on Industrial Engineering
and Engineering Management (IEEM), Singapore, 14–17 December 2020; pp. 440–444.
40. Fischer, J.-H.; Thomé, A.M.T.; Scavarda, L.F.; Hellingrath, B.; Martins, R. Development and Application of a Maturity Measurement
Framework for Supply Chain Flexibility. Procedia CIRP 2016, 41, 514–519. [CrossRef]
41. Jangga, R.; Ali, N.M.; Ismail, M.; Sahari, N. Effect of Environmental Uncertainty and Supply Chain Flexibility Towards Supply
Chain Innovation: An exploratory Study. Procedia Econ. Financ. 2015, 31, 262–268. [CrossRef]
42. Yu, K.; Luo, B.N.; Feng, X.; Liu, J. Supply chain information integration, flexibility, and operational performance: An archival
search and content analysis. Int. J. Logist. Manag. 2018, 29, 340–364. [CrossRef]
43. Rojo Gallego Burin, A.; Perez-Arostegui, M.N.; Llorens-Montes, J. Ambidexterity and IT competence can improve supply chain
flexibility? A resource orchestration approach. J. Purch. Supply Manag. 2020, 26, 100610. [CrossRef]
44. Delic, M.; Eyers, D.R. The effect of additive manufacturing adoption on supply chain flexibility and performance: An empirical
analysis from the automotive industry. Int. J. Prod. Econ. 2020, 228, 107689. [CrossRef]
45. Kumar, P.; Shankar, R.; Yadav, S.S. Flexibility in global supply chain: Modeling the enablers. J. Model. Manag. 2008, 3, 277–297.
[CrossRef]
46. Moon, K.K.-L.; Yi, C.Y.; Ngai, E.W.T. An instrument for measuring supply chain flexibility for the textile and clothing companies.
Eur. J. Oper. Res. 2012, 222, 191–203. [CrossRef]
47. Bag, S.; Viktorovich, D.A.; Sahu, A.K.; Sahu, A.K. Barriers to adoption of blockchain technology in green supply chain management.
J. Glob. Oper. Strateg. Sourc. 2020, 14, 104–133. [CrossRef]
48. Manders, J.H.M.; Caniels, M.C.J.; Paul, W.T. Supply chain flexibility. Int. J. Logist. Manag. 2017, 28, 964–1026. [CrossRef]
Logistics 2021, 5, 33 18 of 18

49. Wang, B.; Luo, W.; Zhang, A.; Tian, Z.; Li, Z. Blockchain-enabled circular supply chain management: A system architecture for
fast fashion. Comput. Ind. 2020, 123, 103324. [CrossRef]
50. Xu, P.; Lee, J.; Barth, J.R.; Richey, R.G. Blockchain as supply chain technology: Considering transparency and security. Int. J. Phys.
Distrib. Logist. Manag. 2021, 51, 305–324. [CrossRef]
51. Min, H. Blockchain technology for enhancing supply chain resilience. Bus. Horiz. 2019, 62, 35–45. [CrossRef]
52. Batwa, A.; Norrman, A. Blockchain Technology and Trust in Supply Chain Management: A Literature Review and Research
Agenda. Oper. Supply Chain Manag. Int. J. 2021, 14, 203–220. [CrossRef]
53. de Giovanni, P. Blockchain and smart contracts in supply chain management: A game theoretic model. Int. J. Prod. Econ. 2020,
228, 107855. [CrossRef]
54. Vacca, A.; Di Sorbo, A.; Visaggio, C.A.; Canfora, G. A systematic literature review of blockchain and smart contract development:
Techniques, tools, and open challenges. J. Syst. Softw. 2021, 174, 110891. [CrossRef]
55. Wang, Y.; Han, J.H.; Beynon-Davies, P. Understanding blockchain technology for future supply chains: A systematic literature
review and research agenda. Supply Chain Manag. Int. J. 2019. [CrossRef]
56. Xuan, S.; Zheng, L.; Chung, I.; Wang, W.; Man, D.; Du, X.; Yang, W.; Guizani, M. An incentive mechanism for data sharing based
on blockchain with smart contracts. Comput. Electr. Eng. 2020, 83, 106587. [CrossRef]
57. Ante, L. Smart contracts on the blockchain—A bibliometric analysis and review. Telemat. Inform. 2021, 57, 101519. [CrossRef]
58. Kouhizadeh, M.; Saberi, S.; Sarkis, J. Blockchain technology and the sustainable supply chain: Theoretically exploring adoption
barriers. Int. J. Prod. Econ. 2021, 231, 107831. [CrossRef]
59. Venkatesh, V.G.; Kang, K.; Wang, B.; Zhong, R.Y.; Zhang, A. System architecture for blockchain based transparency of supply
chain social sustainability. Robot. Comput. Integr. Manuf. 2020, 63, 101896. [CrossRef]
60. Lim, M.K.; Li, Y.; Wang, C.; Tseng, M.-L. A literature review of blockchain technology applications in supply chains: A
comprehensive analysis of themes, methodologies and industries. Comput. Ind. Eng. 2021, 154, 107133. [CrossRef]
61. Rejeb, A.; Keogh, J.G.; Simske, S.J.; Stafford, T.; Treiblmaier, H. Potentials of blockchain technologies for supply chain collaboration:
A conceptual framework. Int. J. Logist. Manag. 2021. [CrossRef]
62. Um, J.; Lyons, A.; Lam, H.K.S.; Cheng, T.C.E.; Dominguez-Pery, C. Product variety management and supply chain performance:
A capability perspective on their relationships and competitiveness implications. Int. J. Prod. Econ. 2017, 187, 15–26. [CrossRef]
63. Wang, Z.; Ye, F.; Tan, K.H. Effects of managerial ties and trust on supply chain information sharing and supplier opportunism.
Int. J. Prod. Res. 2014, 52, 7046–7061. [CrossRef]
64. Cho, M.; Bonn, M.A.; Susskind, A.; Giunipero, L. Restaurant dependence/autonomy in the supply chain and market responsive-
ness: The moderating roles of information technology adoption and trust. Int. J. Contemp. Hosp. Manag. 2018. [CrossRef]
65. Hair, J.F.; Risher, J.J.; Sarstedt, M.; Ringle, C.M. When to use and how to report the results of PLS-SEM. Eur. Bus. Rev. 2019, 31,
2–24. [CrossRef]
66. Hair, J.F.; Hult, G.T.M.; Ringle, C.; Sarstedt, M. A Primer on Partial Least Squares Structural Equation Modeling (PLS-SEM); SAGE
Publications: Thousand Oaks, CA, USA, 2016; ISBN 978-1-4833-7743-8.
67. Fornell, C.; Larcker, D.F. Evaluating Structural Equation Models with Unobservable Variables and Measurement Error. J. Mark.
Res. 1981, 18, 39–50. [CrossRef]
68. Henseler, J.; Ringle, C.M.; Sarstedt, M. A new criterion for assessing discriminant validity in variance-based structural equation
modeling. J. Acad. Mark. Sci. 2015, 43, 115–135. [CrossRef]
69. Hair, J.F.; Ringle, C.M.; Sarstedt, M. PLS-SEM: Indeed a Silver Bullet. J. Mark. Theory Pract. 2011, 19, 139–152. [CrossRef]
70. Meidute-Kavaliauskiene, I.; Çiğdem, Ş.; Vasiliauskas, A.V.; Yıldız, B. Green Innovation in Environmental Complexity: The
Implication of Open Innovation. J. Open Innov. Technol. Mark. Complex. 2021, 7, 107. [CrossRef]
71. Goswami, M.; Daultani, Y.; De, A. Decision modeling and analysis in new product development considering supply chain
uncertainties: A multi-functional expert based approach. Expert Syst. Appl. 2021, 166, 114016. [CrossRef]
72. Choudhary, A.; De, A.; Ahmed, K.; Shankar, R. An integrated fuzzy intuitionistic sustainability assessment framework for
manufacturing supply chain: A study of UK based firms. Ann. Oper. Res. 2021. Available online: https://link.springer.com/
article/10.1007/s10479-019-03452-3 (accessed on 2 April 2021). [CrossRef]
73. Goswami, M.; De, A.; Habibi, M.K.K.; Daultani, Y. Examining freight performance of third-party logistics providers within the
automotive industry in India: An environmental sustainability perspective. Int. J. Prod. Res. 2020, 58, 7565–7592. [CrossRef]
74. Alkahtani, M.; Choudhary, A.; De, A.; Harding, J.A. A decision support system based on ontology and data mining to improve
design using warranty data. Comput. Ind. Eng. 2019, 128, 1027–1039. [CrossRef]