Modeling the blockchain readiness challenges for product recovery system

Area of Science:

• Operations Management
• Information Systems
• Supply Chain Management

Background:

• Product Recovery Systems (PRS) aim to recapture value from products but face implementation hurdles like costs and complex assessments.
• Blockchain Technology (BCT) offers trust, traceability, and security, presenting a potential solution for enhancing PRS.
• Manufacturing industries are exploring BCT for PRS but need to understand the associated readiness challenges.

Purpose of the Study:

• To analyze Blockchain Readiness Challenges (BRCs) for implementing BCT in Product Recovery Systems within manufacturing.
• To identify and prioritize critical BRCs influencing BCT adoption in PRS.

Main Methods:

• Literature survey and expert consultations identified 20 BRCs for BCT in PRS.
• Fuzzy Decision-Making Trial And Evaluation Laboratory (DEMATEL) was used to analyze cause-and-effect relationships among BRCs.
• Maximum Mean De-Entropy (MMDE) algorithm and fuzzy set theory were employed for prioritization and handling uncertainty.

Main Results:

• Inadequate financing for PRS initiatives emerged as a primary readiness challenge.
• Lack of established governance and industry standards significantly hinders BCT adoption in PRS.
• Security challenges associated with BCT implementation pose a major obstacle.

Conclusions:

• Manufacturing organizations must address critical BRCs, particularly financial, governance, and security aspects, before adopting BCT in PRS.
• Prioritizing these influential challenges will facilitate smoother and more successful implementation of blockchain technology in product recovery.