Optimizing circular economy practices through blockchain technology in reverse logistics

Purpose This study aims to examine blockchain technology’s transformative potential in advancing circular economy practices, specifically focusing on reverse logistics. This study investigates how supply chains may become more transparent, traceable and trustworthy by using blockchain’s secure and unchangeable data exchange capabilities. Design/methodology/approach This study identifies and validates important circular economy behaviors using the Delphi technique and Grey Influential Analysis (GIA). GIA analysis helps in identifying the most influential circular economy practices through blockchain technology in reverse logistics. Findings This study highlighted the GIA technique, indicating that a more holistic conceptual framework is necessary to capture the complex interactions between technological, organizational and social factors for enabling blockchain-enabled reverse logistics. This study further contributes to the literature that is growing daily on the role of “emerging technologies” in the management of sustainable supply chains by uniquely placing in context how blockchain addresses the key challenges related to reverse logistics and the implementation of the circular economy. Research limitations/implications This study’s limitations include potential bias in practice assessment, relying on literature and expert opinions. Practical implications This research will be very helpful and valuable to organizations that intend or seek to use blockchain technology in their circular economy and reverse logistics operations. The ranking of practices allows the business world to have a prioritized roadmap on which they can focus their efforts and resources on the most influential applications of blockchain technology. Originality/value Blockchain is a groundbreaking, innovative technology with immense potential to revolutionize industries. Past research has explored the benefits and challenges of blockchain implementation in various industries, but very little in the circular economy, specifically in reverse logistics. This creates a gap in research regarding systematically classifying and ranking the importance of blockchain in reverse logistics. The research would bridge the gap in identifying the gap and recognizing the prominent principles using the Delphi technique and GIA techniques.