Blockchain Technology and Circular Economy in the environment of Total Productive Maintenance: A Natural Resource-Based View Perspective

Total Productive Maintenance (TPM) could act as a practical approach to offer sustainability deliverables in manufacturing firms aligning with the natural resource-based view (NRBV) theory’s strategic capabilities: pollution prevention, product stewardship, and sustainable development. Also, the emergence of Blockchain Technology (BCT) and Circular Economy (CE) are proven to deliver sustainable outcomes in the past literature. Therefore, the present research examines the relationship between BCT and CE and TPM’s direct and mediation effect through the lens of NRBV theory. The current study proposes a conceptual framework to examine the relationship between BCT, CE, and TPM and validates the framework through the Partial Least Squares Structural Equation Modeling. Responses from 316 Indian manufacturing firms were collected to conduct the analysis.
The investigation outcomes indicate that BCT positively influences CE and TPM and that TPM has a significant positive impact on CE under the premises of NRBV theory. The results also suggest that TPM partially mediates the relationship between BCT and CE. This research fills a gap in the literature by investigating the effect of BCT and TPM on CE within the framework of the NRBV theory. It explores the link between BCT, TPM, and CE under the NRBV theory's strategic capabilities and TPM mediation. Implications - The positive influence of TPM and BCT on CE could initiate the amalgamation of BCT-TPM, improving the longevity of production equipment and products and speeding up the implementation of CE practices.