Abstract:
Purpose: This review paper aims to analyze the interconnection of Industry 4.0 (I4.0)
and the Circular Economy (CE) within the supply chain management concept,
focusing on how these standards can collectively lead to improved sustainability and
efficient operations. The study pursues to identify the collaborations between digital
technologies and circular economic practices while submitting a thorough knowledge
of their collective influences on supply chain applications and sustainability.
Design/Methodology/Approach: A systematic literature review was conducted,
developing outcomes, based on several research articles, that analyze the association
amongst Industry 4.0 technologies, such as the Internet of Things (IoT), big data
analytics and automation, and circular economy moralities. The review incorporates
empirical studies, theoretical frameworks, and case studies to deliver a complete
interpretation of the present research states on this topic.
Findings: The findings determine that the collaboration between the Industry 4.0
technology applications evidently boosts the performance of circular economy
practices in the supply chain field. Digital tools increase efficient resource
management, zero waste base, and enhanced collaboration among stakeholders,
collectively leading to sharped operational efficiency and sustainability. Furthermore,
the review emphasizes the demand for collaborations in-between several industries
and stakeholder involvement as a critical success factor for the effective
implementation of circular-based business models.
Practical implications: The consequent findings of this review study can direct the
followers to adopt short-term circular economy initiatives within their existing supply
chains while uplifting Industry 4.0 technologies. Since digitalized solutions not only
heighten resource use, but also endorse interconnective performance among cross
industries, organizations are advised to adopt them, thus increasing the inclusive
supply chain flexibility. Research Limitations: This review study is restricted to the space of early studies;
those may not be able to comprehend the entire relevant research under this topic. In
addition to that, the suddenly converting nature of Industry 4.0 and circular
economy thoughts insists the enduring research work to step with the latest expansions
and practices.
Originality value: Through granting an inclusive combination of how Industry 4.0
and circular economy philosophies can be unified within supply chains, this study
adds further values to the prior structure of knowledge. It highlights the necessity for
additional observed research to discover the real-world applications and findings of
this combination in different industrial frameworks.
