systems

Article
Unveiling the Role of Green Logistics Management in
Improving SMEs’ Sustainability Performance: Do Circular
Economy Practices and Supply Chain Traceability Matter?
Bo Zhou 1 , Abu Bakkar Siddik 2 , Guang-Wen Zheng 3 and Mohammad Masukujjaman 4, *

1 School of Economics and Finance, Xi’an Jiaotong University, Xi’an 710061, China
2 School of Management, University of Science and Technology of China, Jinzhai Road, Hefei 230026, China;
ls190309@sust.edu.cn
3 School of Economics and Management, Shaanxi University of Science and Technology, Xi’an 710021, China
4 Graduate School of Business, Universiti Kebangsaan Malaysia (UKM), Bangi 43600, Selangor, Malaysia
* Correspondence: masuk@ukm.edu.my

Abstract: Sustainability has been widely recognized as a pervasive phenomenon that underlies
the operations and performance of businesses. Recent research has examined the effect of green
logistics management on the sustainability performance of businesses. However, we contend that
the relationship between green logistics management and the sustainability performance of firms
is not direct but mediated through circular economy practices. We analyze the direct and indirect
effects of green logistics management on business sustainability performance via circular economy
practices, using the natural resource-based view and resource dependence theory as our theoretical
underpinnings. This study also assesses the moderating effect of supply chain traceability on the
associations. Drawing upon the empirical data from 211 Bangladeshi manufacturing SMEs, we
performed the PLS-SEM technique to assess the hypotheses. The findings show that green logistics
management positively affects organizations’ circular economy practices and sustainability perfor-
Citation: Zhou, B.; Siddik, A.B.; mance. Furthermore, supply chain traceability strongly affects SMEs’ circular economy practice but
Zheng, G.-W.; Masukujjaman, M. fails to moderate the linkage between green logistics and sustainability performance. Finally, circular
Unveiling the Role of Green Logistics economy practice mediates the linkage between SMEs’ green logistics management and sustainability
Management in Improving SMEs’
performance. We also conducted the Sobel test to validate the mediation. Our findings advance the
Sustainability Performance: Do
natural resource-based view and resource dependence theory while improving the understanding
Circular Economy Practices and
of green logistics management, circular economy practices, and sustainability performance. Given
Supply Chain Traceability
the dearth of literature assessing the complex interactions among these variables, our findings have
Matter? Systems 2023, 11, 198.
https://doi.org/10.3390/
pivotal implications.
systems11040198
Keywords: green logistics management; circular economy practices; sustainability performance;
Academic Editors: Marco Ardolino
supply chain traceability; small and medium enterprises
and Luna Leoni

Received: 6 March 2023

Revised: 31 March 2023
Accepted: 6 April 2023 1. Introduction
Published: 16 April 2023
The environmental consequences of commercial operations have recently garnered
increasing awareness. Academics, organizations, customers, and other stakeholders have
given this issue considerable attention [1,2]. Nowadays, stakeholders require firms to take
accountability for negative repercussions caused by their commercial activities. As a result,
Copyright: © 2023 by the authors.
Licensee MDPI, Basel, Switzerland.
firms worldwide are continuously seeking ways to integrate environmental factors into
This article is an open access article
their strategic planning [3]. The impact of logistics on emissions and energy consumption
distributed under the terms and
has been highlighted in previous studies [4,5]. The growing focus on sustainable practices
conditions of the Creative Commons has brought attention to the importance of Green Logistics (GL), which emphasizes the
Attribution (CC BY) license (https:// environmental impact of logistics activities [6]. GL aims to manage logistics operations to
creativecommons.org/licenses/by/ balance economic, environmental, and social concerns [7]. Therefore, GL plays a crucial
4.0/).

Systems 2023, 11, 198. https://doi.org/10.3390/systems11040198 https://www.mdpi.com/journal/systems

Systems 2023, 11, 198 2 of 19

role in promoting awareness of environmental issues and encouraging stakeholders to

consider the impact of their actions.
Bangladeshi firms, mainly small and medium enterprises (SMEs), had been reluctant
to adopt green and sustainability initiatives [8,9]. Sustainability (the proper combination
of economic, environmental, and social factors) is the most important issue faced by
small and medium-sized enterprises (SMEs) currently, since SMEs must be economy-
focused owing to unpredictability on both the demand and supply sides, as well as to
the existence of countless rivals [10]. Most ecological and sustainability initiatives are
costly, making it more difficult for small and medium-sized enterprises (SMEs) to adhere to
intended environmental and social goals following local rules and global demands, while
staying competitive. Since SMEs do not operate within robust regulatory frameworks,
most SMEs are not eager to improve their sustainability performances [8]. However, the
scenario has recently changed as many manufacturing SMEs implement environmental and
sustainable projects while abiding by international regulations [11]. Moreover, international
organizations are funding Bangladeshi SMEs to incorporate green and environmental
initiatives to attain sustainability goals and ensure workplace safety [12]. Consequently, it
is essential to investigate the crucial drivers of the sustainability performance of Bangladeshi
manufacturing SMEs.
Extant studies on Green Logistics Management (GLM) have mainly emphasized
GLM’s effect on ecological sustainability [13]. Nevertheless, a dearth of literature exists on
how the GLM affects a firm’s sustainability performance (SP) through circular economy
practices (CEP). Circular economy (CE) is a relatively new paradigm that maximizes the
economic, environmental and social components of enterprises to convert the entire society
into one that is more sustainable via the participation of all stakeholders involved. The
circular economy (CE) concept is built on “the regenerative cycle, which facilitates the reuse
of used products, parts, and materials efficiently, thereby increasing profitability and reduc-
ing environmental distraction” [14]. Several studies have documented the challenges and
opportunities of adopting CEP in SMEs. Researchers have established CEP as a crucial pre-
dictor of SMEs’ sustainability performance [9,10,15]. Literature has established that SMEs’
CEP ameliorates their sustainable-oriented innovation and subsequent SP [15–17]. Recent
research indicates that GLM can be regarded as an organizational component supporting
the CEP [4]. Extant literature [18] contended that the GLM is a necessary precondition and
fundamental procedure for establishing a CE. Another stream of literature demonstrates
the pivotal role of the GLM in ameliorating a firm’s sustainability performance. One group
of scholars has corroborated the linkage between the GLM and the different dimensions of
sustainability performance [13,19], while another group has reported the linkage between
the GLM and a firm’s overall SP [5,7,20]. Conversely, another area of research contends
that the relationship between GLM and SP is not always direct [21], creating contradictory
findings in the literature. Some studies have unveiled a significant association between
GLM and SP [22,23], while others have reported an insignificant association [21]. This
inconclusive evidence compels us to study the function of CEP in the interaction between
GLM and SP. As the GLM is a prerequisite for implementing the CEP, which in turn in-
creases the sustainability performance of enterprises, we hypothesize that CEP successfully
mediates the influence of GLM on SP. In addition, we posit that supply chain traceability
(SCT) positively impacts the CEP of firms and acts as a moderator in the GLM-CEP associa-
tion. Recent studies suggest that the exploitation of the SCT can be an essential catalyst
for addressing supply chain disruptions and promoting green initiatives in the logistics
system to help improve CE practices [21,24].
This research draws on the NRBV of firms to conceptualize the GLM as a critical
driver of organizations’ CEP and SP. The NRBV is strongly supported by the research on
GLM and CE, suggesting that organizations seek to improve and reconcile their interaction
with natural settings [25,26]. The NRBV perspective demonstrates how green goods may
offer organizations strategic abilities and favorable ecological impacts [2]. This study
also employs the resource dependence theory (RDT) [19] as a theoretical lens, arguing
Systems 2023, 11, 198 3 of 19

that organizational production depends on acquiring and preserving critical resources.

This results in an organization’s dependency on its surrounding environment, leading
to interdependent organizational behavior and uncertainties. Extant studies have drawn
upon the RDT to define the SCT, as the SCT requires multiple stakeholders’ collaboration
and strong relationships [21]. This study uses the NRBV to understand how the GLM
drives the CEP and SP of organizations and the RDT to predict how the SCT will lead
to an improved CEP. Thus, this research addresses the following questions: RQ1: Does
green logistics management affect manufacturing SMEs’ sustainability performance? RQ2:
What roles do circular economy practices and supply chain traceability play in improving
sustainability performance of SMEs?
We aim to assess the interconnection among GLM, SCT, CEP and SP, and make several
crucial contributions accordingly. First, this study increases the prevalence of NRBV and
RDT by establishing the significance of these theories in studying green logistics in an
emerging economy context. Second, our study advances the GL, CE, and SP literature
by assessing the pivotal role of the GLM in enhancing the CEP and SP of firms. Third,
no former study has established the mediating function of CEP in the GLM-SP linkage.
This scholarship supplements the extant body of knowledge by assessing CEP’s role
in the interplay between the GLM and SP of firms. Finally, our research expands the
understanding of the SCT’s function in attaining the CE and sustainability objectives,
which opens the door for further research.
The remaining sections of the paper are structured in the following manner: in the
second section, we review relevant literature on GLM, CEP, SP and SCT. Section 3 outlines
the research methodology of this paper. Section 4 highlights the findings, whereas Section 5
delves into them. The study ends with evaluating the theoretical and practical effects of the
GLM on the sustainability of SMEs through enhanced CEP, in addition to considering the
study’s shortcomings and possible future directions.

2. Literature Review
2.1. The Natural Resource-Based Theory
Since Hart’s [26] introduction of the NRBV in the mid-1990s, more environmental
scholars have emphasized the enterprises’ internal characteristics when investigating corpo-
rate greening. Nevertheless, this paradigm is inadequate since it disregards the significance
of external factors in determining the advancement of corporate environmentalism [27].
In light of today’s very competitive economic climate [28], it is essential to look at how
competitiveness affects environmental activism. Researchers can better comprehend the
boundary conditions in converting environmental drives into environmental policies and,
ultimately, beneficial business results by including this external aspect in the analysis.
According to the NRBV theory, environmental practices such as GLM can prevent environ-
mental pollution and protect the environment by remanufacturing used or malfunctioning
products [21], which can serve as strategic resources for firms. The theory suggests that
recycled products may provide a preemptive competitive advantage for the firm, since
they can be used as preferred materials for production. Numerous studies have utilized
the NRBV to examine the role of green and environmental practices like GLM, SCT, and
CEP in enhancing organizational sustainability. GLM could serve as a strategic resource to
create a competitive advantage in the context of NRBV theory [29]. The literature contends
that green practices such as GLM and CEP may be considered vital in carrying out the
three natural environment strategies proposed by NRBV: “pollution prevention”, “product
stewardship”, and “sustainable development” [21,30]. Hence, this paper draws upon the
NRBV to investigate GLM’s role in promoting a superior CEP and SP.

2.2. Resource Dependence Theory

The resource dependence theory (RDT) is a crucial paradigm for comprehending the
strength of organizations concerning their engagement with their environments [31]. This
extends Emerson’s [32] theory of power-dependent relations, which posits that the more
Systems 2023, 11, 198 4 of 19

reliant one firm is on another, the more power the second firm has over the first. Pfeffer and
Salancik [33] proposed the RDT, highlighting the limited resources of individual businesses
and their necessity to form alliances with external partners. RDT asserts that accessibility
to scant materials in an external business setting and a business’s dependency on such
materials is determined by its actions and sustainability [33].
The critical underlying tenet of RDT is that organizations are rarely independent in
terms of strategically vital resources, causing them to depend on other organizations [34].
In addition, businesses aim to reduce uncertainty and control this dependence by carefully
creating official and informal connections with other businesses [35]. According to the RDT,
businesses rely on one another’s environments to access capital, labor, and other essential
resources [36]. Previously conducted studies suggest that businesses tend to develop
harmonious and cooperative relationships with one another [37]. The RDT has been used
in the existing literature to assess the influence of various supply chain procedures and
strategies on company outcomes [21,38]. In order to be implemented effectively, the SCT
supports the notion that necessitates the involvement of external stakeholders. Due to
the SCT’s extensive supply chain-wide activities, it may be practically difficult for its
adoption by a single organization [21]. The SCT incorporates both a specific product and its
constituent parts [39], and, as proposed by the RDT, it necessitates cooperative interaction
between a focal organization and its stakeholders. Surprisingly, the RDT also presents
companies with excellent regulatory processes for readjusting their framework and attitude
to help minimize the unpredictability and reliance on the external environment [40]. These
regulatory mechanisms encompass partnerships based on influence or trust, coalitions,
joint buying contracts, and other strategic alliances that can promote implementing CE in
their supply chain operations.

2.3. Green Logistics Management and Sustainability Performance

“Green logistics” refers to “supply chain management practices and strategies that
reduce the environmental and energy footprint of freight distribution, which focuses on
material handling, waste management, packaging, and transport” [3]. GL activities are
interdependent, and the efforts made in one area often compromise the sustainability of
others, which disrupts logistics managers’ decision-making processes. Reusable pack-
aging systems, for example, improve resource efficiency and reduce costs but increase
the number of reverse logistics routes and, consequently, transportation emissions [24].
Bhattacharya et al. [41] stated that using sustainable energy in supply chain operations
might enhance environmental sustainability by reducing carbon emissions and economic
performance and resolving numerous challenges that confound company managers. Green
principles incorporate environmental considerations into logistical activities to advance
society [42]. In 1991, the first green design research addressed the importance of green
designs in mitigating the various effects of production wastes. Fortes [6] argued that the
dominant themes in literature conducted over the previous two decades were green designs,
operations, reverse logistics, waste disposal, and green production.
With growing awareness and market choice for environmentally friendly products,
corporations today emphasize sustainability practices [25]. Yet, many SME businesses
have inefficient production of goods and services [8,43]. Hence, manufacturing SMEs
face several challenges when striving to adopt sustainable practices [44]. According to
Bratt et al. [45], there is no universal definition of sustainability: what it entails varies
depending on the problem at hand; analogously, the three pillars of sustainability (economic,
environmental and social) must be implemented for SMEs to be more sustainable in terms
of logistics management [21]. A few studies have explored the linkage between green
logistics management (GLM) and corporate sustainability performance [1,21]. GLM entails
the gathering and exchanging of information, freight transportation, stock management,
and material management across the supply chain [46,47]. Extant literature suggests that
green information management, reverse logistics, green transportation, efficient waste
management, and sustainable monitoring and assessment all play a role in reducing carbon
Systems 2023, 11, 198 5 of 19

emissions, waste, energy, and resource consumption, resulting in increased operating

performance and environmental sustainability [21]. Khan [23] contended that the GLM
promotes environmental and societal welfare by cutting down on emissions and waste
products. GLM practices are necessary for environmental sustainability [22], implying
green packaging, recycling, repairing, reprocessing, efficient disposal of used products,
use of eco-friendly diesel fuel, and using green energy sources all enhance SP. Thus, we
hypothesized that:

H1: GLM positively impacts firms’ SP.

2.4. Green Logistics Management and Circular Economy Practices

The CE notion is gradually gathering momentum, with companies adopting its tenets
into their environmental initiatives. CE seeks to retain the monetary value of products,
resources, and energy while reducing wastage [3]. CE is a concept that highlights the
generation of value through the intelligent use of resources and the diminishing nega-
tive ecological impact throughout the lifespan of goods, thereby allowing the reuse of
materials [48]. Due to the abundance of proposed CE definitions, it is nearly impossi-
ble to make an objective choice. Thus, the authors have settled for the one advanced by
Kirchherr et al. [49] following their analysis of 114 CE definitions: “A circular economy
describes an economic system that is based on business models which replace the ‘end-
of-life’ concept with reducing, alternatively reusing, recycling and recovering materials
in production/distribution and consumption processes, thus operating at the micro level
(products, companies, consumers), meso-level (eco-industrial parks) and macro level (city,
region, nation and beyond), to accomplish sustainable development, which implies creating
environmental quality, economic prosperity, and social equity, to the benefit of current and
future generations” [49].
Green logistics is an essential requirement and fundamental mechanism for the ad-
vancement of CE. CE and industrial ecology demand the effective circulation and recycling
of resources across businesses as a prerequisite. The objective is to optimize the produc-
tion logistics and regulate the supply chains of enterprises effectively engaging in the CE
system [18]. The concept of GL arose to lessen environmental consequences produced by
logistics adopting a method of environmental preservation. GL is closely linked to the CE in
terms of the technical cycle [50], and both are related to sustainability [51]. The CE suggests
that GL should be developed outside a business’s supply chain and not limited to waste
collection and recycling efforts [52] to retain the value and utility of the resource for as long
as possible, in addition to offering considerable value chain benefits. Julianelli et al. [53]
highlighted several essential success elements of GL that enable companies to achieve their
CE objectives. Based on these arguments, we posit that:

H2: GLM positively impacts firms’ CEP.

2.5. Circular Economy Practices and Sustainability Performance

The CE is an emerging business and economic model that enables businesses to adopt
a more resource-efficient resource usage pattern by increasing value via the conservation
and renewal of resources as soon as a product reaches the end of its useful life [54]. CE
practices (CEP) are observed to improve corporate performance by increasing product
reuse and closed flow while minimizing energy losses, emissions, pollution and costs [55].
Throughout the manufacturing and consuming processes, the CE adheres to the 3R concept
(“reduce”, “reuse” and “recycle” materials) [55]. The concept has been a focal topic for
scholars and practitioners, owing to its potential for material reductions, time savings,
abatement of negative externalities, effects, and pressures, as well as the establishment
of new firms and jobs, all while deriving economic rewards [56]. Material circularity,
natural resource usage, and product longevity result from CE-based production systems
linked with sustainable growth [55,57]. With the involvement of all its stakeholders, the
Systems 2023, 11, 198 6 of 19

CE evolved as a modern philosophy that maximizes companies’ economic, environmental,

and social concerns to move society toward higher sustainability [17]. Some CE researchers
and practitioners argued that CE implicitly incorporates elements of economic and environ-
mental sustainability [58]. In addition, Walker et al. [59] observed in their qualitative study
that most of the leading organizations involved in CE believed that applying CE practices
would most likely result in improved SP. Dey et al. [10] proposed an efficient method
for implementing CEP in SME organizations by employing proper approaches, resource
allocation, and competence development. According to Katz-Gerro and López Sintas [60],
11,000 SMEs in EU-28 member states engage in CE activities. They show that the CEP that
SMEs are most likely to engage in are waste minimization, replanning energy consump-
tion, redesigning goods and services, using renewable energy, and water usage. Another
study by Prieto-Sandoval et al. [61] identified vital tactics, resources, and competencies for
applying CEP in Spanish SMEs across their receive, produce, distribute, use, and recover
activity area. Rodríguez-Espíndola [62] contended that CEP promotes sustainable-oriented
innovation to boost the SP of Mexican SMEs. Chowdhury [16] concluded that CEP is a
crucial driver of SP in Vietnamese SMEs. Therefore, this study hypothesizes that:

H3: CEP positively impacts SMEs’ SP.

Moreover, existing literature on the connection between GL and SP has yielded incon-
clusive results. Some scholars have found a positive linkage between GL and SMEs’ SP [1,5],
while others have argued that GL does not consistently affect corporate sustainability [21].
The inconsistency in findings may be due to mediating variables affecting the link between
GL and SP. This study proposes that CEP has a mediating function in the connection
between GL and SMEs’ sustainability performance. Previous research has established that
GL is a crucial driver of firms’ circular economy practices [48,63], improving organizational
SP [17,64]. Consequently, we posit that:

H4: CEP mediates the linkage between GLM and SP.

2.6. Green Logistics Management, Supply Chain Traceability, and Circular Economy Practices
Most supply chain operations are undocumented and untraceable [30], impeding
organizations’ efforts to eliminate detrimental and inessential processes from the supply
chain to help cut down on wastage and emissions and preserve scarce resources [65]. Prior
literature has established the SCT as a solution that enables businesses to monitor and
trace supply chain operations [66]. The SCT can be defined as the “tracing and tracking of
products and activities from the suppliers to the end-consumers and back to the suppliers
or manufacturers, which aims at augmenting the effort of firms toward the achievement
of improved environmental, social, and business sustainability” [21]. Trivellas et al. [24]
suggest that with logistics traceability facilitated by technological innovations, stakehold-
ers may readily obtain reliable and accurate data, resulting in significant resource and
material savings for businesses. Traceability considerably increases product movement,
thus facilitating overall logistics operations. In addition, adopting blockchain technology
for SCT improves information availability and interaction among multiple supply chain
participants, thus enhancing the movement of products and resources [67]. Furthermore, it
is suggested that SCT based on technology ensures the availability of information, thereby
preventing several fraudulent acts such as fake ownership and data manipulation [14].
The CEP entails applying eco-friendly measures that help minimize numerous en-
ergy and production cycles, hence regulating several sustainability challenges, including
harmful emissions and material wastes [68]. Integrating several eco-friendly practices in
logistics management ensures optimal performance by enhancing features such as dura-
bility, maintenance, reuse and refurbishment. However, increased costs, talent gaps, lack
of awareness about these approaches, quality sacrifices, and supply chain complexities
impede the application these green initiatives [69]. Recent research suggests that deploy-
ing SCT can be pivotal in addressing these obstacles and encouraging green practices in
 including harmful emissions and material wastes [68]. Integrating several eco-friendly
practices in logistics management ensures optimal performance by enhancing features
such as durability, maintenance, reuse and refurbishment. However, increased costs,
talent gaps, lack of awareness about these approaches, quality sacrifices, and supply chain
Systems 2023, 11, 198 complexities impede the application these green initiatives [69]. Recent research suggests 7 of 19
that deploying SCT can be pivotal in addressing these obstacles and encouraging green
practices in the logistics system to help enhance CE practices [21,24]. Traceability within
the logistics
the supply chain
systemistoessential for improving
help enhance CE practices the[21,24].
green Traceability
supply chain processes
within and
the supply
procedures and a company’s sustainable performance to reduce
chain is essential for improving the green supply chain processes and procedures and a its adverse
environmental
company’s effects [70].
sustainable By utilizing
performance a company’s
to reduce its adverse technological
environmental assets to develop
effects [70]. By
supply chain traceability among its members, green practices could significantly
utilizing a company’s technological assets to develop supply chain traceability among impactits
the improvement
members, of sustainability
green practices performance
could significantly [71].the
impact When the supply
improvement of chain is traceable,
sustainability per-
the green [71].
formance logistics
When process and protocols
the supply are simpler
chain is traceable, theto handle
green because
logistics any sustainability
process and protocols
issues can be identified and rectified at the root. Nandi [72] argued that
are simpler to handle because any sustainability issues can be identified and rectified supply at chain
the
traceability is essential for enhancing the agility of the logistics system to promote
root. Nandi [72] argued that supply chain traceability is essential for enhancing the agility circular
economy
of practices.
the logistics Thus,
system we positcircular
to promote that: economy practices. Thus, we posit that:

H5: SCT positively impacts firms’ CEP.

H6: SCT moderates the relationship between GLM and CEP.

Drawing on the literature review, we developed the following conceptual framework

(Figure 1):

Figure 1.
Figure 1. Conceptual
Conceptual model.
model.

3. Methods
3.1. Sample and
3.1. Sample and Data
Data Collection
Collection
The
The data
data for
for this
this study
study were
were gathered
gathered from
from Bangladeshi
Bangladeshi SMEs
SMEs that
that have
have adopted
adopted
green
green practices to improve sustainability performance. These SMEs were chosen because
practices to improve sustainability performance. These SMEs were chosen because
they conduct business
they conduct business in
in aa highly
highly volatile
volatile setting
setting where
where green
green practices
practices such
such as
as GLM,
GLM, SCT,
SCT,
and
and CEP are crucial for ecological success. Furthermore, SMEs make up the core of the
CEP are crucial for ecological success. Furthermore, SMEs make up the core of the
Bangladeshi economy, directly
Bangladeshi economy, directly employing
employing millions
millions of
of people
people [73].
[73]. Although
Although Bangladeshi
Bangladeshi
SMEs are reluctant
SMEs are reluctant to
to adopt
adopt environmental
environmental practices,
practices, the
the scenario
scenario has
hasimproved
improvedrecently.
recently.
Several international organizations
Several international organizations have
have funded
funded SMEs
SMEs inin different
different sectors
sectors to
to implement
implement
green initiatives and ensure safety [8]. Hence, it is essential to assess how GLM, SCT and
CEP can improve environmental sustainability in Bangladeshi SMEs.
The researchers used a self-administered questionnaire to investigate the influence
of GLM and SCT on CEP and SP in Bangladeshi SMEs. We performed a pilot study with
33 respondents, including four academics and 29 SME owners. Following their feedback,
we made minor modifications to the survey questions. Our survey targeted SME managers
who understood their enterprises’ operations and performance comprehensively. The
researchers distributed the survey to 270 SMEs, accompanied by a cover letter explaining
our research goals and mentioning their voluntary engagement. Our respondents were
advised that their data would be kept anonymous and used exclusively for scholarly study.
Systems 2023, 11, 198 8 of 19

We were able to obtain 211 complete usable questionnaires, resulting in a response rate of
78%. The data collection period was between April to August 2022.

3.2. Respondents’ Profile

The complete dataset gathered and processed for this research consisted of the replies
of 211 managers from Bangladeshi small and medium-sized firms (SMEs). Most participants
(79%) had been hired by their respective companies for at least a year and held their current
or most recent managerial roles for at least the same period. In addition, a substantial
share (84%) of managers aged between 25 and 50 had attained postsecondary education or
above (74%). 58% of the companies supplied services directly to consumers, 15% of the
companies served other businesses, and 27% of the companies connected directly with
both individuals and businesses. 39% of the sample was comprised of wholesale and retail
establishments, which constituted the majority of the responding SMEs. In addition, there
were restaurants (26%), pharmacies (21%) and electronics stores (14%). Regarding the
age of the companies, the poll targeted four age groups: 3 years (17%), 3–5 years (31%),
6–10 years (29%), and >10 years (22%). Despite these qualities, 54% of SMEs had fewer than
20 employees, 32% had between 21 and 50 employees, and 14% had above 50 employees.

3.3. Measures
We used a variety of questionnaire items to evaluate all of our propositions, which were
obtained from prior studies, with a few items adjusted to fit the context of the investigation.
Exogenous factors were assessed using a seven-point Likert scale. The instrument was
developed according to the guidelines outlined by Mishra et al. [63]. We provided the
research constructs and items to four academics and 29 SME experts for pilot testing. They
were asked to rate the extent to which they believed these items accurately measured
their related concepts. Based on their feedback, some of the questions were revised. We
drew twenty items from relevant literature. To assess the green logistics management of
SMEs, we used five elements from previous research [46,74] as metrics to determine if firms
were engaged in green monitoring, assessment, delivery and transportation, green storage
and green packaging. The supply chain traceability of the companies was assessed using
five elements from the study by Cousins et al. [30]. We then employed five items from
Zeng et al. [75] and Zhu et al. [76] to evaluate the mediator CEP. Finally, we estimated
the sustainability performance of the SMEs using five items developed by Agyabeng-
Mensah et al. [74]. Before conducting the primary inquiry, we revised the questionnaire
based on the feedback received from the SME experts. The measurement items used in this
study are presented in Table 1.
Table 1. Measurement Items.

Variables Codes Items Sources

GL1 Green education, monitoring and evaluation Agyabeng-Mensah et al. [21,74],
GL2 Green transportation and distribution
GL3 Green warehousing and packaging Baah et al. [46]
Green Logistics Management
GL4 Waste management and recycling
GL5 Sustainable logistics information system
SCT1 Identifying the sources of our raw materials
Tracking the processes involved in producing products
SCT2 Cousins et al. [30]
throughout our complete supply chain
Supply Chain Traceability Tracing the origins of our purchases through the entire
SCT3
supply chain
SCT4 Tracking the environmental performance of our complete supply
SCT5 Knowing what chemicals or elements are in our purchase
CEP1 The firm is devoted to reducing the unit product manual input.
The firm is devoted to reducing the consumption of raw
CEP2
materials and energy.
Circular Economy Practices CEP3 Product packaging materials are used repeatedly. Zeng et al. [75] and Zhu et al. [76]
The leftover material is used repeatedly to manufacture
CEP4
other products.
CEP5 Recycling waste and garbage are reprocessed.
Systems 2023, 11, 198 9 of 19

Table 1. Cont.

Variables Codes Items Sources

Minimization of environmental mishaps, waste generation, and
SP1
reduced usage of toxic and harmful materials
SP2 Reduced the environmental impacts of products/service
Sustainability Performance Minimization of energy consumption and increased rate of
SP3 Agyabeng-Mensah et al. [74]
renewable energy consumption
Improved stakeholders’ knowledge of green activities and
SP4
involvement in planning and executing environmental practices
SP5 Improved community health and safety

3.4. Data Analysis Technique

This exploratory and confirmatory investigation aimed to examine GLM’s impact on
SP through CEP. Numerous statistical methods were used to acquire more precise infor-
mation and inferences. For example, the gathered replies were coded and inspected for
mistakes before using analytical procedures. SPSS version 20.0 and Smart-PLS version
3.3.4 were used for statistical analysis to assess the research framework [77] for PLS path
modeling to test the dataset. SPSS was initially used to filter the data, identify missing
values and outliers, assess descriptively, and evaluate the sample demographic distribution.
The links between latent variables in the conceptual framework were then evaluated using
PLS-SEM [9]. PLS-SEM was chosen because it is suitable for the examination of complex
constructs and exploratory and confirmatory investigations. It indicated increasing the
variance of endogenous constructs interpreted by the exogenous variables in reverse to
represent the experimental covariance matrix [78], and this research framework was con-
structed with the help of several pre-existing theories. Thus, PLS-SEM [62] was necessary
for predicting latent variables in the model. A total of 5000 iterations were used to calculate
the non-parametric bootstrapping [9]. After executing PLS-SEM, the data were assessed in
two phases [62]. First, the reliability and validity of the outer model’s measurement model
were evaluated using composite reliability (CR), average variance extracted (AVE) and
Cronbach’s alpha (CA) on a total of 211 valid samples. In the second stage, we determined
the potential association between these variables. We concluded by performing a mediation
analysis. We used the structural model evaluated using the pertinent outcomes of mea-
surements in this study model and the significance and impacts of path parameters [79].
Harman’s single-factor assessment was performed per Podsakoff et al.’s [80] guidelines to
test common method bias (CMB). A single component constituted 40.35% of the variance,
which is below the threshold of 50 percent. Hence, CMB was not an issue in this research.

4. Results
4.1. Measurement Model
While assessing the measurement model, we omitted an item (CE1) from the analysis
due to its low factor loadings (<0.60) [81] and employed CA and CR to determine the
reliability of the constructs (Figure 2). All CRs exceeded the recommended value of
0.70 [82]. The CA values for each construct also exceeded the 0.70 criterion, confirming the
reliability assumption as stated by Hair et al. [83]. To establish the convergent validity (CV),
Fornell and Larcker [84] suggest that the AVE values should exceed 0.5 [85]. This study also
confirmed the CV, since each model item has a large and significant standardized loading
on its target construct [86]. The AVE values of our model constructs, ranging from 0.574 to
0.829, corroborate the CV of the measures (Table 2).
 reliability assumption as stated by Hair et al. [83]. To establish the convergent validity
(CV), Fornell and Larcker [84] suggest that the AVE values should exceed 0.5 [85]. This
study also confirmed the CV, since each model item has a large and significant
standardized loading on its target construct [86]. The AVE values of our model constructs,
Systems 2023, 11, 198
ranging from 0.574 to 0.829, corroborate the CV of the measures (Table 2). 10 of 19

Figure 2. Measurement
Figure model.
2. Measurement model.

Table 2. Summary
Table Results
2. Summary of of
Results Measurement Model.
Measurement Model.

Constructs.
Constructs. Items FactorFactor
Items Loading
Loading CACA CRCR AVE
AVE VIF
VIF
GL1 GL1 0.7700.770
GL2 GL2 0.8180.818
Green
GreenLogistics
Logistics Management GL3 0.707 0.832 0.880 0.596 1.181
GL3 GL4 0.7070.781 0.832 0.880 0.596 1.181
Management GL5
GL4 0.7810.780
SCT1 0.793
GL5 SCT2 0.7800.806
SCT1
Supply Chain Traceability SCT3 0.7930.717 0.816 0.871 0.574 1.181
SCT4 0.744
SCT2 SCT5
0.8060.725
Supply Chain
SCT3 CE2 0.7170.927 0.816 0.871 0.574 1.181
Traceability CE3
SCT4
Circular Economy Practices 0.7440.954 0.931 0.951 0.829
CE4 0.877 1.155
SCT5 CE5 0.7250.881
Circular Economy CE2 SP1 0.9270.893
SP2 0.914 0.931 0.951 0.829
Practices CE3
Sustainability Performance SP3 0.9540.887 0.890 0.920 0.698 n.a
SP4 0.738
SP5 0.724
Note: CA = Cronbach’s Alpha, CR = Composite Reliability, AVE = Average Variance Extracted, n.a = not applicable.

In addition, it is critical to analyze the discriminant validity (DV) of the constructs in a

measuring model. The Fornell–Larker and Heterotrait–Monotrait correlation ratio (HTMT)
criteria were used to determine the DV of our constructs. Regarding the first criterion, the
square root of the AVE was calculated for each latent construct [87]. To ensure an acceptable
DV, the diagonal values in the associated rows and columns should be substantially larger
than the off-diagonal elements [88]. Table 3 shows that this requirement holds for all the
factors of our measurement model.
Systems 2023, 11, 198 11 of 19

Table 3. Fornell–Larcker Criterion.

Constructs GL SCT CEP SP

Green Logistics Management 0.772
Supply Chain Traceability 0.391 0.758
Circular Economy Practices 0.366 0.517 0.910
Sustainability Performance 0.591 0.461 0.495 0.835
Note: Values in italics represent the square root of AVE.

The HTMT ratio was subsequently employed to assess the model’s DV. Our assessment
revealed that the model possessed a solid DV, as evidence suggests that the HTMT ratios of
the constructs listed in Table 4 are less than the 0.85 recommended by Henseler et al. [89].
The largest HTMT value obtained was 0.667, thus confirming the constructs’ DV. Altogether,
the constructs of our model exhibited a high degree of reliability and validity.

Table 4. HTMT Criterion.

Supply Circular
Green Logistics
Chain Traceability Economy Practices
Supply Chain Traceability 0.474
Circular Economy Practices 0.402 0.579
Sustainability Performance 0.667 0.547 0.532

4.2. Structural Model

The dataset was examined for potential multicollinearity issues before analyzing the
structural model. The correlation analysis revealed the maximum correlation value of
the latent constructs as 0.591, indicating the absence of multicollinearity. The variance
inflation factor (VIF) was also measured for each construct to ensure its robustness. The
VIF values of the latent constructs were found to be 1.181, 1.181, and 1.155 for the GL, SCT
and CEP, respectively. The values were significantly less than the highest threshold of 5.00,
confirming the model’s lack of multicollinearity [90]. After ensuring the model was not
multicollinear, it was suitable for the PLS-SEM. The measurement model is presented in
Figure 2.
We used the SmartPLS 3.3.4 software to assess the structural model and test the
proposed hypotheses in this investigation (see Figure 3). The bootstrapping technique
was deployed with 5000 subsamples to determine the significance of the latent construct
associations [91]. Since the PLS does not provide the overall goodness of fit metrics, the
R2, and Q2 remain the principal methods for determining the predictive potential of the
structural model (Wasko & Faraj, 2005). Table 4 indicates that all R2 values exceed 0.1 (CEP
R2 = 0.299, SP R2 = 0.439). As a result, the capability for prediction was established [92].
In addition, the Q2 value proves the predictive relevance of the endogenous components,
with a value exceeding 0 indicating its predictive relevance. The findings also indicated
that the predictive relevance of the constructs in this study is substantial (CEP Q2 = 0.242,
SP Q2 = 0.300) (see Table 5). Also, the model fit was evaluated using the SRMR from the
PLS-SEM. The SRMR coefficient was observed to be 0.08, which is less than the maximum
threshold of 0.10, suggesting good fit of our model.
Systems 2023, 11, x FOR PEER REVIEW 13 of 19

Systems 2023, 11, 198 12 of 19

Figure 3. Structural model.

Figure 3. Structural model.
Table 5. Predictive Power of the Model.
Table 7. Sobel Test for Mediation.
Endogenous Constructs 2
R 2
Qp-Value
Test Statistic Std. Error
Circular
SobelEconomy
test Practices 2.688 0.299 0.023 0.2420.007
Sustainability Performance 0.439 0.300
Aroian test 2.651 0.023 0.008
Goodman test 2.728 0.022 0.006
After assessing the model’s multicollinearity, predictive relevance, and goodness of
5.fit, we analyzed
Discussion and the direct and indirect paths between the GL, SCT, CEP and SP. Table 6
Conclusions
represents each hypothesis’s path coefficients.
Improving corporate sustainability practices and performance is critical for achieving
national Goals. Several businesses implement eco-friendly and sustainable approaches
Table 6. Results of Hypothesis Testing.
that promote superior firm-level SP. Several companies, for instance, have incorporated
green supply
Hypotheses chain management (GSCM) strategies
Coefficients into their business procedures
t-Statistics Remarks to
ensure sustainability. A vital component of a sustainable supply chain is GLM, which may
H1: GL → SP 0.481 (0.063) *** 7.512 Supported
play aH2: significant
GL → CEP role in driving corporate
0.195 (0.061) *** SP. Consequently,
3.174 our paper aimed to assess
Supported
the function of
H3: CEP → SP green logistics in propelling
0.318 (0.064) *** SMEs’ SP via CEP.
4.984 Supported
First,
H4: GL → weCEP observed
→ SP that 0.061
GLM(0.022)
promotes
*** organizational 2.837 sustainability. This finding is
Supported
similar H5:toSCT → CEP of earlier
the outcome 0.443studies
(0.055) [1,5],
*** which reported 8.045 a strong association
Supported
between
GLH6: GL * SCT
adoption and→ CEP
SP. Green − 0.034 (0.05)
logistics functions, including 0.603 transportation, Notwarehousing,
supported
* p < 0.05, *** p < 0.001.
management, and waste disposal, contribute to an organization’s environment and
overall SP [5]. In addition, Choi and Zhang [93] argued that the GLM substantially boosts
the SPTable 6 reports
of Chinese both the
logistics direct and
companies. indirect
Khan et al.effects of the model
[94]revealed constructs.
that the GLM promotesFirst, the
GL positively impacted firms’ SP (β = 0.481, t = 7.512, p = 0.000),
social sustainability in Asian nations by reducing emissions, and waste materials and
2 confirming hypothesis H1.
Moreover, the GL strongly influenced firms’ circular
improving air quality, ultimately promoting better societal health. Theeconomy practices (β 1 = 0.195, t =
NRBV also 3.174,
p = 0.000),
postulates thatsupporting H2. CEP
GSCM practices strongly
would linked
promote positively
superior with firms’
SP. However, SPreported
[21] (β3 = 0.318,
a
t = 4.984, p = 0.000), confirming H3. The mediation analysis revealed
positive effect of the GL on environmental sustainability but a negative effect on business that the CEP strongly
mediates the GL-SP link (β4 = 0.061, t = 2.837, p = 0.005), confirming H4. Furthermore,
performance.
we found a positive effect of firms’ SCT on their CEP (β4 = 0.443, t = 8.045, p = 0.000),
Second, we noticed that the GLM strongly influences organizational CEP. Firms
validating hypothesis H5. However, the findings depicted that the SCT had no substantial
adopting GL management are more likely to integrate circular economy practices in their
moderating effect on the association between the GL and CEP (β4 = −0.034, t = 0.603,
business than those that have not. Green logistics spurs the repeated usage of product
p > 0.05), invalidating H6. Figure 3 represents the SEM of our analysis.
packaging materials, leftover materials, and recycling waste and garbage reprocessing,
To assess the robustness of our empirical results—which strengthens the implications
of our findings—we conducted the Sobel test to validate our mediation results further. The
Systems 2023, 11, 198 13 of 19

Sobel test result also corroborated the CEP’s mediating role in the interaction between the
GL and SP (β = 0.062, p < 0.05) (see Table 7).

Table 7. Sobel Test for Mediation.

Test Statistic Std. Error p-Value

Sobel test 2.688 0.023 0.007
Aroian test 2.651 0.023 0.008
Goodman test 2.728 0.022 0.006

5. Discussion and Conclusions

Improving corporate sustainability practices and performance is critical for achieving
national Goals. Several businesses implement eco-friendly and sustainable approaches that
promote superior firm-level SP. Several companies, for instance, have incorporated green
supply chain management (GSCM) strategies into their business procedures to ensure
sustainability. A vital component of a sustainable supply chain is GLM, which may play
a significant role in driving corporate SP. Consequently, our paper aimed to assess the
function of green logistics in propelling SMEs’ SP via CEP.
First, we observed that GLM promotes organizational sustainability. This finding is
similar to the outcome of earlier studies [1,5], which reported a strong association between
GL adoption and SP. Green logistics functions, including transportation, warehousing,
management, and waste disposal, contribute to an organization’s environment and overall
SP [5]. In addition, Choi and Zhang [93] argued that the GLM substantially boosts the SP
of Chinese logistics companies. Khan et al. [94] revealed that the GLM promotes social
sustainability in Asian nations by reducing emissions, and waste materials and improving
air quality, ultimately promoting better societal health. The NRBV also postulates that
GSCM practices would promote superior SP. However, [21] reported a positive effect of the
GL on environmental sustainability but a negative effect on business performance.
Second, we noticed that the GLM strongly influences organizational CEP. Firms adopt-
ing GL management are more likely to integrate circular economy practices in their business
than those that have not. Green logistics spurs the repeated usage of product packaging
materials, leftover materials, and recycling waste and garbage reprocessing, thus imple-
menting circular economy practices. Our finding aligns with those of de Souza et al. [48]
and Kazancoglu et al. [95], which also argued that adopting green logistics management
facilitates firms to enhance their overall CEP. In logistics, a more circular and environmen-
tally friendly production process is associated with implementing GL, which strives to
reduce carbon emissions, fossil fuel use, and material returns once it attains the end of its
proper life cycle [48].
Next, our findings revealed that the CEP had a crucial impact on the SP of firms.
Several studies corroborated the strong effect of CEP on the SP of businesses [64]. The
negative impact of business processes on the environment can be mitigated by imple-
menting CEP [96]. CE emerged as a contemporary ideology that optimizes enterprises’
economic, environmental, and social considerations to advance society toward greater
sustainability through the active participation of all stakeholders [17]. Furthermore, we
observed a mediating role of the CEP on the interplay between the GL and SP and that the
GLM influences the circular economy practices of firms [48], subsequently affecting their
organizational sustainability [64].
In addition, we incorporated the SCT as a moderator in our model to investigate
whether it increases or decreases the effect of GL on CEP. The findings revealed that sup-
ply chain traceability, as a critical resource of the firm, strongly drives circular economy
practices. This finding indicates that the tracing and monitoring information regarding
a company’s supply chain operations aid in achieving circular economy objectives. This
observation is akin to prior studies [97,98], which asserted that a firm’s SCT facilitates
its CE activities. Kouhizadeh et al. [99] argued that technological integrations such as
Systems 2023, 11, 198 14 of 19

blockchain technology improves supply chain traceability, which is crucial for implement-
ing circular economy practices in firms [100]. The RDT reveals that enterprises are hardly
self-dependent, requiring resources and stakeholder connections to create a competitive
advantage. As SCT relies on the resources and connections of various stakeholders to
improve sustainable performance, our findings lend credence to RDT. However, evidence
of the SCT’s moderating effect on the GLM-CEP link could not be found.

5.1. Theoretical and Practical Implications

This work has many theoretical implications for the existing GLM and sustainability
literature. First, our paper supplements the conceptual framework of the NRBV and
RDT, hence enriching the sparse literature on developing countries’ SMEs. Our findings
extend the scope of the NRBV and RDT to understand the factors driving CEP and SP in a
highly competitive business environment. Second, our research provides factual analysis
to reinforce the assertion that GLM implementation is crucial for enhancing CEP and
SP [4]. Following the NRBV hypothesis, our results demonstrate that GLM favors the
CEP and SP. This result is similar to findings from studies undertaken in other locations
worldwide. This illustrates that the NRBV paradigm is not region-specific and can be
deployed everywhere to meet CEP and SP objectives. As a result, our scholarship broadens
the scope of enterprises’ NRBV.
Third, our study adds to the corpus of knowledge by revealing a direct link between
CEP and SP. It suggests that a more considerable degree of circular economy activities
significantly benefit the SP of Bangladeshi SMEs. Given that most studies that have found
a direct association between CEP and SP have been undertaken in developed nations, this
observation is an essential supplement to the current research in emerging economies [17].
The NRBV paradigm contributes to advancing the discourse on the role of green initiatives,
particularly CEPs, in the SP of organizations.
Fourth, the current study contributes to the literature by examining the mediating
effect of CEP on the interaction between the GLM and SP. Green logistics and sustainability
studies have mostly emphasized the CEP as an outcome of the GLM [48] and a stimulus
of firms’ SP [17,64], overlooking its function as a mediator. Therefore, we focus on the
mediating factor of CEP between GLM and SP. Our empirical evidence suggests that CEP
positively mediates the connection between the GLM and SP and implies that energy
and resource usage reduction, recurring use of materials, and reprocessing of recyclable
materials enhance the implementation of green transportation and distribution, green
warehousing, waste management, and sustainable logistics information systems in to
enhance firms’ SP substantially. Given that no earlier research has explored the crucial
mediating function of the CEP in the GLM-SP relationship, our findings provide an essential
contribution to the field.
Fifthly, our research improves our understanding of the significance of SCTs in ac-
complishing CE and sustainability objectives. The findings give evidence for the direct
role of SCT in boosting CEP in Bangladeshi SMEs. The study indicates that identifying
and managing information on a firm’s warehouse activities, transport, and distribution
challenges in logistics has a direct impact on the company’s CEP. This research broadens
the application of the RDT, and the findings pave the way for future studies to explore the
relationship between SCT and GLM in other industries and domains.
In conclusion, the findings of this research have broad consequences for administrators,
regulators and policymakers. This research recommends that a company integrate multiple
GSCM initiatives with on-the-ground processes while adhering to the CEP to increase
efficiency and achieve SP. The CE is a low-cost method several businesses utilize to turn
linear economic systems into circular ones enabling long-term corporate sustainability. CE
business models may assist in overcoming resource shortage issues while increasing the
value of the enterprise. Furthermore, the CEP will boost a company’s core competencies in
achieving corporate sustainability. Stakeholders are now urged to consider GLM, while
building a sustainability action plan and reviewing the results delivered by their CEP.
Systems 2023, 11, 198 15 of 19

Considering SMEs are vital contributors to the area’s rising economies, the study will
substantially impact the South Asian region. In conclusion, this study’s findings are pivotal
since they offer a profound comprehension of the actual execution of the GL and CEP to
obtain better SP.

5.2. Limitations and Future Research Avenues

Despite making significant contributions, the study’s findings may be subject to
limitations that could guide future studies. This study collected data from small and
medium-sized enterprises in Bangladesh, which may limit the universal applicability of
its conclusions. Future research may consider collecting data from other regions and
industries to verify our observations’ reliability. Moreover, although the study samples
appropriately represent the intended population, the sample size may influence the findings.
Consequently, future studies may consider employing additional strategies to increase
respondent participation. Moreover, we adopted the PLS-SEM approach for data analysis
and model validation. In the future, covariance-based structural equation modeling (CB-
SEM) could be employed to confirm the results in other contexts. Moreover, we explored
the moderating effect of SCT on the link between GLM and CEP. However, future research
may also expand its moderating effect on other relationships. Finally, we adopted the SP
as a single construct from the extant literature. However, a growing body of literature
recognizes the SP as a multi-dimensional construct incorporating economic, environmental
and social performance. Thus, future researchers may employ a multi-dimensional SP
construct to measure how GL and CEP affect firms’ SP.

Author Contributions: Conceptualization, B.Z. and A.B.S.; Data curation, M.M.; Formal analysis,
G.-W.Z.; Funding acquisition, B.Z.; Investigation, A.B.S.; Methodology, B.Z. and G.-W.Z.; Project
administration, M.M.; Resources, G.-W.Z. and M.M.; Software, M.M.; Supervision, G.-W.Z.; Validation,
B.Z.; Visualization, A.B.S.; Writing—original draft, B.Z. and A.B.S.; Writing—review & editing, B.Z.,
G.-W.Z. and M.M. All authors have read and agreed to the published version of the manuscript.
Funding: This study was funded by the China Postdoctoral Science Foundation (Grant no. 2019M663757)
and Ministry of Education of the People’s Republic of China: “Research on the transmission path and
Improvement Countermeasures of 3PLs’ service capability to the performance under the background
of high quality development (Grant Number is 20XJC790015)”.
Institutional Review Board Statement: Not applicable.
Informed Consent Statement: Not applicable.
Data Availability Statement: The data that support the findings of this study are available from the
corresponding authors upon reasonable request.
Acknowledgments: The researchers would like to express their gratitude to the anonymous re-
viewers for their efforts to improve the quality of this paper.
Conflicts of Interest: The authors declare no conflict of interest.

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