Assessing Blockchain Technology application for freight booking business: a case study from Technology Acceptance Model perspective
Journal of Global Operations and Strategic Sourcing
ISSN: 2398-5364
Article publication date: 22 September 2020
Issue publication date: 15 July 2021
Abstract
Purpose
The purpose of this study is to develop a framework for a freight consolidation company to adopt blockchain for the shipping community. Our research critically examine the challenges faced by a global shipping company that offer freight consolidation businesses and explore the use of Blockchain technology to enhance the competitiveness and sustainability of freight booking operations.
Design/methodology/approach
This paper is a case study, ECU Worldwide, with focus on transforming their operations using blockchain technology for the freight booking industry. As the case is explorative in nature, the research aim to unearth the complex blockchain adoption phenomenon in the industry as the technology is very nascent at present. The research is primarily grounded on Technology Acceptance Model (TAM) theory.
Findings
The research finds that blockchain technology supports solving many issues and inefficiencies of global shipping operations but there are some barriers that they need to overcome. The research provides a framework and recommendations for global company to consider when considering Blockchain technology for implementation. Our research finding shows that smart contracts can be set up at critical points along with the shipment route namely the storage, customs, carrier, transporters and consignee stage to ensure greater security and transparency.
Research limitations/implications
The research provides recommendations to key stakeholders involved in freight forwarding segment of logistics industry while adopting blockchain technology. Apart from the methodological limitation of the research, the research is limited to Singapore in terms of geographical coverage.
Practical implications
The drivers and barriers identified in the study can give practitioners insight of using blockchain for the industry. The proposed framework can assist companies in the shipping industry to prepare themselves to adopt blockchain for the community.
Originality/value
This case study is the first of its kind to examine the use of blockchain to explore the adoption in logistics Industry in Singapore and perhaps worldwide.
Keywords
Acknowledgements
The authors thank Mr Uday Shetty, COO of ECU Worldwide and his regional managers for sharing their view on the current process for freight booking and their view on potential blockchain development for the industry.
Disclosure statement: No potential conflict of interest was reported by the authors.
Citation
Tan, W.K.A. and Sundarakani, B. (2021), "Assessing Blockchain Technology application for freight booking business: a case study from Technology Acceptance Model perspective", Journal of Global Operations and Strategic Sourcing, Vol. 14 No. 1, pp. 202-223. https://doi.org/10.1108/JGOSS-04-2020-0018
Publisher
:Emerald Publishing Limited
Copyright © 2020, Emerald Publishing Limited