Blockchainembedded supply chain finance solutions for Indian MSMEs: a TISM and MICMAC approach
Journal of Business & Industrial Marketing
ISSN: 0885-8624
Article publication date: 28 February 2023
Issue publication date: 20 November 2023
Abstract
Purpose
To stabilise the financial flow and ensure the smooth operations of the micro, small and medium enterprises (MSMEs), supply chain finance (SCF) is one of the efficient alternative solutions suggested by various researchers and practitioners. The application of blockchain technology (BT) could maximize the capability and performance of the SCF throughout the supply chain. Therefore, this study aims to identify and analyse the factors of implementing BT-embedded SCF solutions for Indian MSMEs.
Design/methodology/approach
The total interpretative structural modeling (TISM) methodology is applied to explore the hierarchical as well as non-hierarchical relationships among the factors of implementing BT-embedded SCF solutions in Indian MSMEs. Thereafter, the fuzzy-cross-impact matrix-multiplication (F-MICMAC) approach is opted to classify all the factors into four groups depending upon their driving and dependence powers in the overall TISM hierarchy.
Findings
The result of this study revealed that “real-time exchange of information” and “transparent platform” are the most influential factors and play important role in the application of blockchain in SCF in Indian MSMEs. The real-time exchange of information ensures the easy and quick access to data by any partner across the supply chain and, also the data and information remain secure.
Practical implications
The findings of this study help the MSMEs and supply chain managers to implement the blockchain-embedded solutions to overcome the traditional SCF challenges and obstructions by setting up short-term as well as long-term policies and will open the door for future research work.
Originality/value
To the best of the author’s/authors’ knowledge, this study is the first of its kind, where the data is collected from field experts to identify the factors influencing the blockchain-embedded SCF adoption in Indian MSMEs’ perspectives, to tackle the flaws of SCF and strengthen the MSMEs.
Keywords
Citation
Sahoo, P.S.B.B. and Thakur, V. (2023), "Blockchainembedded supply chain finance solutions for Indian MSMEs: a TISM and MICMAC approach", Journal of Business & Industrial Marketing, Vol. 38 No. 11, pp. 2390-2402. https://doi.org/10.1108/JBIM-06-2022-0264
Publisher
:Emerald Publishing Limited
Copyright © 2023, Emerald Publishing Limited