Unveiling metaverse potential in supply chain management and overcoming implementation challenges: an empirical study

Abstract

Purpose: The metaverse is a virtual world where users can communicate with each other in a computer-generated environment. The use of metaverse technology has the potential to revolutionize the way businesses operate, interact with customers, and collaborate with employees. However, several obstacles must be addressed and overcome to ensure the successful implementation of metaverse technology. This study aims to examine the implementation of metaverse technology in the management of an organization's supply chain, with a focus on predicting potential barriers to provide suitable strategies. Design/methodology/approach: Covariance-based structural equation modeling (CB-SEM) was used to test the model. In addition, artificial neural network modeling (ANN) was also performed. Findings: The CB-SEM results revealed that a firm's technological limitations are among the most significant barriers to implementing metaverse technology in the supply chain management (SCM). The ANN results further highlighted that the firm's technological limitations are the most crucial input factors, followed by a lack of governance and standardization, integration challenges, poor diffusion through the network, traditional organizational culture, lack of stakeholder commitment, lack of collaboration and low perception of value by customers. Practical implications: Because metaverse technology has the potential to provide organizations with a competitive advantage, increase productivity, improve customer experience and stimulate creativity, it is crucial to discuss and develop solutions to implementation challenges in the business world. Companies can position themselves for success in this fascinating and quickly changing technological landscape by conquering these challenges. Originality/value: This study provides insights to metaverse technology developers and supply chain practitioners for successful implementation in SCM, as well as theoretical contributions for supply chain managers aiming to implement such environments.