This study explores the risks associated with digital transformation (DT) solution implementation in the logistics and supply chain management industry, employing a hybrid PLS-SEM-ANN-fsQCA methodology. Despite growing DT adoption, limited research integrates hybrid methodologies to assess risks in emerging markets like Vietnam, where resource constraints amplify vulnerabilities. Anchored in the Technology-Organization-Environment framework with human factors, the research investigates how technological, organizational, environmental, and human elements shape DT solution adoption and associated risks, including financial, operational, cybersecurity, and reputational risks. Results indicate that TOE + H factors significantly impact DT implementation, yet risks are amplified by misalignment, ineffective management, volatile market conditions, and limited digital literacy. Notably, DT solution adoption heightens cybersecurity vulnerabilities. Moderation analyses reveal that high digital literacy, larger firm size, and regulatory compliance mitigate these risks. ANN analysis highlights non-linear relationships, identifying technological and human factors as primary drivers, while fsQCA uncovers configurations, such as strong technological and human factor alignment, linked to successful DT outcomes. Importance-Performance Map Analysis emphasizes prioritizing technological and human factors for efficient resource allocation, promoting sustainable DT by minimizing disruptions and resource inefficiencies. This study enriches the TOE + H framework, providing actionable insights for logistics SMEs to enhance performance, resilience, and environmental sustainability in supply chains.