Blockchain and supply chain finance for sustainable construction industry: ensemble ranking using Ordinal Priority Approach

Construction firms often struggle with working capital issues and liquidity crises. These challenges may adversely affect project performance, relations with trading partners, and supply chain management. Various solutions have been developed to build financial resilience and stabilize core business operations. Among them, Supply Chain Finance (SCF) helps buyers and suppliers go beyond conventional banking systems to optimize cash flow and access to low-cost funding. Promisingly, SCF can be powered by blockchain innovations and create new forms of "Decentralized SCF." Due to the topic's novelty, "blockchain-enabled SCF solutions" has not been explored by existing studies in construction context. The current study focuses on "What are the challenges of SCF solutions, and how can blockchain address identified issues for the sustainability of the construction industry?". To solve above multiple-criteria decision-making (MCDM) problem, we propose a novel Ensemble Ranking Model based on the Ordinal Priority Approach (OPA). The developed model can efficiently aggregate the outputs of various MCDM methods and assign weight to each method objectively. We also execute pilot testing to assess the efficiency and applicability of the proposed Ensemble Ranking Model in a real business environment. The results from the case study show that "lack of reliable and timely information" and "inadequate trust, commitment, and collaboration among parties" can be problematic in supply chain finance, which blockchain features can alleviate. Finally, we will discuss how the synergy between SCF and blockchain can enhance the sustainability of the construction industry.