Surajit Bag, Muhammad Sabbir Rahman, Gautam Srivastava, S. Shrivastav
{"title":"Unveiling metaverse potential in supply chain management and overcoming implementation challenges: an empirical study","authors":"Surajit Bag, Muhammad Sabbir Rahman, Gautam Srivastava, S. Shrivastav","doi":"10.1108/bij-05-2023-0314","DOIUrl":null,"url":null,"abstract":"PurposeThe metaverse is a virtual world where users can communicate with each other in a computer-generated environment. The use of metaverse technology has the potential to revolutionize the way businesses operate, interact with customers, and collaborate with employees. However, several obstacles must be addressed and overcome to ensure the successful implementation of metaverse technology. This study aims to examine the implementation of metaverse technology in the management of an organization's supply chain, with a focus on predicting potential barriers to provide suitable strategies.Design/methodology/approachCovariance-based structural equation modeling (CB-SEM) was used to test the model. In addition, artificial neural network modeling (ANN) was also performed.FindingsThe CB-SEM results revealed that a firm's technological limitations are among the most significant barriers to implementing metaverse technology in the supply chain management (SCM). The ANN results further highlighted that the firm's technological limitations are the most crucial input factors, followed by a lack of governance and standardization, integration challenges, poor diffusion through the network, traditional organizational culture, lack of stakeholder commitment, lack of collaboration and low perception of value by customers.Practical implicationsBecause metaverse technology has the potential to provide organizations with a competitive advantage, increase productivity, improve customer experience and stimulate creativity, it is crucial to discuss and develop solutions to implementation challenges in the business world. Companies can position themselves for success in this fascinating and quickly changing technological landscape by conquering these challenges.Originality/valueThis study provides insights to metaverse technology developers and supply chain practitioners for successful implementation in SCM, as well as theoretical contributions for supply chain managers aiming to implement such environments.","PeriodicalId":48029,"journal":{"name":"Benchmarking-An International Journal","volume":"7 1","pages":""},"PeriodicalIF":4.5000,"publicationDate":"2023-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Benchmarking-An International Journal","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1108/bij-05-2023-0314","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"MANAGEMENT","Score":null,"Total":0}
引用次数: 1
Abstract
PurposeThe metaverse is a virtual world where users can communicate with each other in a computer-generated environment. The use of metaverse technology has the potential to revolutionize the way businesses operate, interact with customers, and collaborate with employees. However, several obstacles must be addressed and overcome to ensure the successful implementation of metaverse technology. This study aims to examine the implementation of metaverse technology in the management of an organization's supply chain, with a focus on predicting potential barriers to provide suitable strategies.Design/methodology/approachCovariance-based structural equation modeling (CB-SEM) was used to test the model. In addition, artificial neural network modeling (ANN) was also performed.FindingsThe CB-SEM results revealed that a firm's technological limitations are among the most significant barriers to implementing metaverse technology in the supply chain management (SCM). The ANN results further highlighted that the firm's technological limitations are the most crucial input factors, followed by a lack of governance and standardization, integration challenges, poor diffusion through the network, traditional organizational culture, lack of stakeholder commitment, lack of collaboration and low perception of value by customers.Practical implicationsBecause metaverse technology has the potential to provide organizations with a competitive advantage, increase productivity, improve customer experience and stimulate creativity, it is crucial to discuss and develop solutions to implementation challenges in the business world. Companies can position themselves for success in this fascinating and quickly changing technological landscape by conquering these challenges.Originality/valueThis study provides insights to metaverse technology developers and supply chain practitioners for successful implementation in SCM, as well as theoretical contributions for supply chain managers aiming to implement such environments.
期刊介绍:
Benchmarking is big news for companies committed to total quality programmes. Its enthusiastic reception by many prominent business figures has created high levels of interest in a technique which promises big rewards for co-operating partners. Yet, like total quality itself, it must be understood in its proper context, and implemented single mindedly if it is to be effective - this journal helps companies to decide if benchmarking is right for them, and shows them how to go about it successfully.