Redesigning Supply Chains using Blockchain-Enabled Circular Economy and COVID-19 Experiences

Abstract

The COVID-19 pandemic has exposed businesses and societies to the shortfalls of normal patterns of production, consumption, and their long-lasting impact on supply chains. In this opinion paper, we provide insights from the COVID-19 pandemic for making supply chains more resilient, transparent, and sustainable. These insights include supply chains needing to develop localization, agility, and digitization (LAD) characteristics. We link LAD to a potential solution using blockchain technology and circular economy principle capabilities. Use cases are used to show how blockchain-enabled circular economy practices can support supply chain LAD efforts. Supply chain tracking, tracing, and responsiveness can be supported through blockchain-enabled circular economy practices. One result of identifying these relationships include solutions and insights at multiple levels and stakeholders – individual, organizational, supply chain, governmental, and community. These crisis-related observations and findings set a future research foundation for sustainable production and consumption.