Critical success factors for implementing blockchain‐based circular supply chain

Abstract

Abstract The growing importance of the circular economy has emphasised optimal utilisation of resources within the constraints of economic development and protection of the environment. Digital technologies associated with Industry 4.0, such as blockchain, facilitate the implementation of circular economy principles throughout the supply chain. However, because blockchain implementation in the supply chain is still in the early stages, real‐world examples of the blockchain‐based circular supply chains (CSCs) are limited. The principal purpose of the paper is to examine the critical success factors (CSFs) for implementing blockchain‐based CSCs. Following that, 10 CSFs are identified through a short systematic literature review, and then, the integrated fuzzy cognitive mapping and fuzzy best‐worst method (FCM‐FBWM) is implemented to examine CSFs for the blockchain‐based CSC. The study's main findings demonstrate that network collaboration is the best CSF, while the shared circular economy toolbox is counted worst of all. This research enriches the literature by identifying the CSFs for implementing blockchain‐enabled CSCs to address the lack of a suitable decision‐making framework that assists managers in comprehending how blockchain technology can be adopted in the circular economy context. Implications for theory and practice are also discussed, offering new insights into the measures necessary to ensure successful blockchain implementations in CSCs.