Factors affecting the decision to apply Blockchain to supply chain management for SMEs in Vietnam

Abstract

This study aims to evaluate the factors affecting the decision to apply Blockchain technology (BT) to supply chain management (SCM) for SMEs in Vietnam. By surveying 514 leaders and managers of businesses, the authors performed descriptive statistics using SPSS 26 software, and the measurement model and structural model PLS-SEM were evaluated using SMARTPLS 4 software. The results of the study show that the factors affecting the intention to apply BT to make the decision to apply this technology to SCM of their business, including: (1) Technological readiness, (2) System compatibility, (3) Perceived usefulness (Relative advantage), (4) Complexity, (5) Security and privacy, (6) Cost, (7) Organizational readiness, (8) Legal and policy of Government support, (9) Competitive pressure. Based on the study, the authors proposes a number of implications to provide useful information for businesses and stakeholders in Vietnam to make informed decisions to applying BT to SCM.