Inhibitors of Industry 4.0 and Circular Economy in Manufacturing Industry Supply Chains

Abstract

Circular economy (CE) and Industry 4.0 (I4.0) are clearly gaining popularity around the world because to their ability to integrate breakthrough technology with unique circular production and business models. This study conducted a systematic literature review, followed by expert intervention, to identify the 16 inhibitors hindering the implementation of a combination of CE practices and I4.0 technologies in the manufacturing industry supply chain. This paper has used ISM, Fuzzy MICMAC, and Fuzzy AHP approach to analyse the interrelationship among inhibitors and highlight the most critical of them. The findings of the paper suggest ‘missing competitive leadership and ‘lack of capital' are the most critical inhibitors, hindering the implementation of I4.0 and CE approach, depriving the manufacturing sector from enormous incentives. This one-of-a-kind original research paper is a holistic attempt to highlight the key elements of manufacturing and production supply chain. The results of the study will help the SCM companies to devise the strategies for achieving excellence.