Blockchain technology adoption for risk management: Case of operations and supply chain management in Oman

Companies worldwide face immense pressure and a complex business environment after the pandemic, which has impacted Omani companies dealing in operations and supply chain. They are facing stiff competition, managing risks and re-establishing their businesses in newer markets which require trust, collaboration, and a coordinated flow of work all through the supply chain. Risk management is critical as it prevents supply chain disruptions and makes organisations more competitive and productive. In this regard, Blockchain technology (BCT) is rapidly becoming the facilitator of managing risks by providing an ecosystem that propels timely information, transparency and precision in processes and effective decision making. Another factor which affects risk management is business environment variables like VUCA. Thus, for the current study of VUCA dimensions, TAM-selected constructs and agility factors were taken in the conceptual framework to study how these constructs affect each other. The study is quantitative, and the sample size was 128 operations, risk, and supply chain managers in Oman. The conceptual model fit was done through Exploratory and Confirmatory Analysis and measured goodness of fit. The hypothesis was tested through structured equation modeling (SPSS AMOS) of VUCA variables, agility variables, and TAM constructs. It was observed that Perceived Usefulness does not significantly impact intention to use BCT adoption, while other factors significantly impact intention to adopt BCT for risk management. The study has theoretical and practical implications for stakeholders, and the proposed framework for BCT adoption will contribute to operations and supply chain management (OSCM) literature.