RIS ID
145312
Abstract
Purpose Blockchain technology adoption has been growing than even before in all industry verticals. This research aims to evaluate the use of Blockchain technology in improving the business efficiencies of the freight consolidation processes. 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 The research applies an Inductive case study approach by taking into consideration of an organisation involved adopting Blockchain as a technology to improve the efficiencies of the logistics frieght booking. 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. 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
Publication Details
Tan, W. & Sundarakani, B. 2020, 'Assessing Blockchain Technology application for freight booking business: a case study from Technology Acceptance Model perspective', Journal of Global Operations and Strategic Sourcing, vol. Online First, pp. 1-22.