An integrated FCM-FBWM approach to assess and manage the readiness for blockchain incorporation in the supply chain

Abstract

Despite the initial hype surrounding blockchain applications in the supply chain, real-world implementation of this disruptive technology faces significant challenges. To manage these challenges and ensure a smooth implementation, supply chain organizations must perform various activities to acquire readiness. This paper proposes a readiness assessment and management approach for blockchain implementation in the supply chain. The proposed approach allows supply chain decision-makers to (1) identify the readiness-relevant activities for blockchain implementation, (2) model the causal relationships among the identified activities, (3) assess the activities’ contribution weights to the overall readiness, and (4) develop an effective readiness improvement plan by prioritizing those activities with the most impact on the overall readiness. Fuzzy cognitive maps (FCMs) are employed to model the causal relationships between the activities. The fuzzy best–worst​ method (FBWM) is adopted to establish the contribution weights of the activities to the supply chain's overall readiness. The FCM inference process is also used to incorporate feedback loops among the activities. The proposed approach is then illustrated through an empirical study. © 2021 Elsevier B.V.