TY - JOUR
T1 - Industry 4.0 technology and circular economy practices: business management strategies for environmental sustainability
AU - Tang, Yuk Ming
AU - Chau, Ka Yin
AU - Fatima, Arooj
AU - Waqas, Muhammad
N1 - Funding Information:
Supported by Boehringer Ingelheim Pharmaceuticals, Inc.
Publisher Copyright:
© 2022, The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.
Publisher Copyright:
© 2022, The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.
PY - 2022/7
Y1 - 2022/7
N2 - Circular economy and Industry 4.0 are two of the most hotly debated topics in recent decades. They gradually attracted the attention of academics, practitioners, and policymakers from around the globe. The current research looks at the impact of Industry 4.0 on circular economy practices and blockchain technology in order to boost firm performance. The closed questionnaire was used to collect cross-sectional data of 330 respondents, and the partial least squares structural equation modeling (PLS-SEM) modeling framework was used to demonstrate the findings of the study. The results show that blockchain technology improves circular economy practices significantly in terms of green manufacturing (GM), recycling and remanufacturing (RR), and green design (GD) in India. In addition, Industry 4.0 has the potential to improve business operations as well as financial performance and environmental performance significantly. As a result, the current research work offers recommendations for businesses to achieve long-term goals by incorporating Industry 4.0 into manufacturing systems.
AB - Circular economy and Industry 4.0 are two of the most hotly debated topics in recent decades. They gradually attracted the attention of academics, practitioners, and policymakers from around the globe. The current research looks at the impact of Industry 4.0 on circular economy practices and blockchain technology in order to boost firm performance. The closed questionnaire was used to collect cross-sectional data of 330 respondents, and the partial least squares structural equation modeling (PLS-SEM) modeling framework was used to demonstrate the findings of the study. The results show that blockchain technology improves circular economy practices significantly in terms of green manufacturing (GM), recycling and remanufacturing (RR), and green design (GD) in India. In addition, Industry 4.0 has the potential to improve business operations as well as financial performance and environmental performance significantly. As a result, the current research work offers recommendations for businesses to achieve long-term goals by incorporating Industry 4.0 into manufacturing systems.
KW - Blockchain technology
KW - Business management strategies
KW - Circular economy
KW - Environmental sustainability
KW - Industry 4.0
UR - http://www.scopus.com/inward/record.url?scp=85125257446&partnerID=8YFLogxK
U2 - 10.1007/s11356-022-19081-6
DO - 10.1007/s11356-022-19081-6
M3 - Journal article
AN - SCOPUS:85125257446
SN - 0944-1344
VL - 29
SP - 49752
EP - 49769
JO - Environmental Science and Pollution Research
JF - Environmental Science and Pollution Research
IS - 33
ER -
