Over the last few years, the further transfomation of retailing derived
from growing development and integration of Internet has led to the emergence
of new retail mode as a tendency conforming to the demand of the consumer
market. Blockchain technology as a major innovation in supply chain has a wide
prospect and only little investigation about its application is available in
the literature. Literature and expert opinion interpretation in index are
further analyzed and modeled using fuzzy-interpretive structural modeling (FISM),
Fuzzy Matriced Impacts Corises-Multiplication Appliance Classment(FMICMAC). The combined
approach of both FISM and FMICMAC is applied to identify the common drivers to
enhance the efficiency of new retailing in the light of efficient supply chain
management. The findings in the article endorse that the traditional retailing
can be made efficient by integrating the blockchain technology considering
three most driving characteristics, namely, Effective Information, Interactive
Reflection and Information Circulation. The study carried out in this article
motivates industries to implement blockchain technology in their new retailing
model. It will reduce the transaction cost, documentation work, save time and
eliminate human error. The common characteristics identified in this proposed
work would help in managerial decisions for the adoption of blockchain
technology to ensure that the system becomes more transparent, easily traceable
and finally improves the
performance.
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