Assessing The General Sentiment of Malaysian Manufacturers in Adopting Blockchain Technology to Improve Supply Chain Processes

Authors

  • Bryan Teoh Phern Chern Management Department, Faculty of Accountancy, Finance and Business, Tunku Abdul Rahman University of Management and Technology, 53100 Setapak, Kuala Lumpur, Malaysia
  • Teoh Bak Aun Faculty of Technology Management and Technopreneurship, Universiti Teknikal Malaysia Melaka, 76100, Melaka, Malaysia
  • Elishia Loo Po-Lynn Management Department, Faculty of Accountancy, Finance and Business, Tunku Abdul Rahman University of Management and Technology, 53100 Setapak, Kuala Lumpur, Malaysia
  • Cheng U-Jin Management Department, Faculty of Accountancy, Finance and Business, Tunku Abdul Rahman University of Management and Technology, 53100 Setapak, Kuala Lumpur, Malaysia

DOI:

https://doi.org/10.37934/araset.40.1.6473

Keywords:

Blockchain, Task Technology Fit, Technology Acceptance Model, Technology Readiness Index

Abstract

The popularity of blockchain technology has seen a dramatic increase throughout the year of 2021 and 2022, with numerous use cases in various global industries. This includes the use of cryptocurrencies, non-fungible tokens, decentralized autonomous organizations, and others. In Malaysia, there is also an apparent increase in general awareness towards the technology, with Bank Negara Malaysia and Securities Commission actively participating in the Committee for Blockchain and Distributed Ledger Technology. This study specifically examined at the Malaysian manufacturing industry, attempting to assess their general sentiments towards blockchain technology and how it could help to improve various supply chain processes. The quantitative study received 114 valid responses from management level employees with Malaysian manufacturers, enabling the researchers to assess the task technology fit, perceived ease of use (PEOU), perceived usefulness (PUSE), and technology readiness index (TRI). The analysis indicated that there is indeed a high task technology fit in the Malaysian manufacturing sector. In addition, this industry showed a positive sentiment towards blockchain technology, with high scores in PEOU, PUSE, and TRI. The high TRI numbers also had a positive significant relationship on the decision to adopt this technology within the manufacturing companies to improve various supply chain processes.

Author Biographies

Bryan Teoh Phern Chern, Management Department, Faculty of Accountancy, Finance and Business, Tunku Abdul Rahman University of Management and Technology, 53100 Setapak, Kuala Lumpur, Malaysia

teohpc@tarc.edu.my

Teoh Bak Aun, Faculty of Technology Management and Technopreneurship, Universiti Teknikal Malaysia Melaka, 76100, Melaka, Malaysia

teohba@utem.edu.my

Elishia Loo Po-Lynn, Management Department, Faculty of Accountancy, Finance and Business, Tunku Abdul Rahman University of Management and Technology, 53100 Setapak, Kuala Lumpur, Malaysia

loopl@tarc.edu.my

Cheng U-Jin, Management Department, Faculty of Accountancy, Finance and Business, Tunku Abdul Rahman University of Management and Technology, 53100 Setapak, Kuala Lumpur, Malaysia

chenguj@tarc.edu.my

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Published

2024-02-19

How to Cite

Bryan Teoh Phern Chern, Teoh Bak Aun, Elishia Loo Po-Lynn, & Cheng U-Jin. (2024). Assessing The General Sentiment of Malaysian Manufacturers in Adopting Blockchain Technology to Improve Supply Chain Processes. Journal of Advanced Research in Applied Sciences and Engineering Technology, 40(1), 64–73. https://doi.org/10.37934/araset.40.1.6473

Issue

Vol. 40 No. 1: October (2024)

Section

Articles