A blockchain-based circular economy taxonomy model for supply chain risks
M. Shoaib
Abstract
This paper proposes a novel framework for managing supply chain risks through the implementation of a blockchain-based circular economy taxonomy. The author notes that global supply chains are increasingly fragmented and susceptible to opacity, leading to inefficient waste management and high-risk environmental impacts. The study introduces a standardized model that uses distributed ledgers to track the lifecycle of products, from raw material procurement to end-of-life recycling. By assigning unique identifiers on a blockchain, the model allows participants in the supply chain to verify the sustainability credentials and risk profiles of their partners. The research demonstrates how blockchain-enabled transparency facilitates circular business models, such as product-as-a-service and predictive maintenance, thereby reducing systemic risk. The paper concludes by providing a taxonomy for evaluating blockchain adoption in circular supply chains, emphasizing that interoperability and data quality are foundational for these systems to successfully mitigate ecological and operational supply chain risks.
Key Findings
- 1Blockchain provides the necessary transparency to enable circular economy metrics in complex supply chains.
- 2A standardized taxonomy is essential for tracking and mitigating supply chain risks at scale.
- 3Distributed ledgers facilitate greater accountability for environmental impacts across distributed partner networks.
- 4Circular economy models enabled by blockchain allow for proactive rather than reactive risk management.
Topics
Citation
BibTeX
@misc{ablockchain2024,
title = {A blockchain-based circular economy taxonomy model for supply chain risks},
author = {M. Shoaib},
year = {2024},
howpublished = {\url{https://www.sciencedirect.com/science/article/abs/pii/S0098135425005204}},
}Knowledge Explorer
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