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Smart Contract Application in Resisting Extreme Weather Risks for the Prefabricated Construction Supply Chain: Prototype Exploration and Assessment

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Abstract

The increasing frequency of extreme weather (EW) events has created significant vulnerabilities in the normal operations of the prefabricated construction supply chain (PCSC). This study aims to enhance the resilience of the PCSC against EW by utilizing smart contracts. The study proposes a prototype smart contract application to mitigate the risks posed by EW to the PCSC. Additionally, it identifies 28 potential barriers affecting smart contract adoption in the PCSC using the Technology-Organization-Environment framework. Furthermore, the paper presents a multi-objective optimization-based group decision-making method to assess the feasibility of smart contract adoption in the PCSC. An online survey was then conducted among 50 stakeholders from various links of the PCSC to gather insights into smart contract adoption. The results indicate that stakeholder awareness of smart contracts and the current corporate level are the most influential factors in decision-making. This research extends the application of smart contracts to risk management within the PCSC, offering valuable insights for stakeholders to enhance resilience and address the adverse effects of EW proactively.

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  1. https://www.mortenson.com/newsroom/2023-supply-chain-trends-and-forecasting.

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Acknowledgements

The authors would like to thank in advance the Editor-in-Chief, the Associate Editor, and the anonymous referees for handling and reviewing this paper. This work was supported in part by the National Natural Science Foundation of China under Grant Nos. 72171182 and 72031009.

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Authors and Affiliations

  1. School of Management, State Key Laboratory for Manufacturing Systems Engineering, The Key Laboratory of the Ministry of Education for Process Control & Efficiency Engineering, Xi’an Jiaotong University, Xi’an, 710049, China

    Zhu-Jun Wang & Qin Su

  2. School of Economics and Management, Nanjing University of Science and Technology, Nanjing, 210094, China

    Yangyang Sun

  3. Department of Industrial Engineering, Turkish Naval Academy, National Defence University, 34940, Tuzla, Istanbul, Turkey

    Muhammet Deveci

  4. Royal School of Mines, Imperial College London, London, SW7 2AZ, UK

    Muhammet Deveci

  5. Department of Electrical and Computer Engineering, Lebanese American University, Byblos, Lebanon

    Muhammet Deveci

  6. China Institute of FTZ Supply Chain, Shanghai Maritime University, Shanghai, China

    Kannan Govindan

  7. Centre for Sustainable Operations and Resilient Supply Chains, Institute for Sustainability Energy and Resources and Adelaide Business School, University of Adelaide, Adelaide, Australia

    Kannan Govindan

  8. School of Business, Woxsen University, Sadasivpet, Telangana, India

    Kannan Govindan

  9. Department of Civil and Environmental Engineering, University of Maryland, College Park, MD, 20742, USA

    Zhu-Jun Wang & Mirosław J. Skibniewski

  10. Chaoyang University of Technology, Taichung, Taiwan

    Mirosław J. Skibniewski

  11. Institute for Theoretical and Applied Informatics, Polish Academy of Sciences, Gliwice, Poland

    Mirosław J. Skibniewski

  12. School of Civil Engineering, Wuhan University, Wuhan, 430072, China

    Zhen-Song Chen

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Wang, ZJ., Sun, Y., Su, Q. et al. Smart Contract Application in Resisting Extreme Weather Risks for the Prefabricated Construction Supply Chain: Prototype Exploration and Assessment. Group Decis Negot (2024). https://doi.org/10.1007/s10726-024-09877-x

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