Unveiling barriers to the integration of blockchain‐based circular economy and Industry 5.0 in manufacturing industries: A strategic prioritization approach

Although Industry 4.0 plays the role of a catalyst in the transition from a linear economy to a circular economy (CE), some sustainability goals are neglected by prioritizing machines over humans. Industry 5.0 insists on combining technology with human values to achieve sustainable development goals...

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Bibliographic Details
Published in:Business strategy and the environment 2024-12, Vol.33 (8), p.7855-7886
Main Authors: Kannan, Devika, Amiri, Alireza Shamekhi, Shaayesteh, Mayssam Tarighi, Nasr, Arash Khalili, Mina, Hassan
Format: Article
Language:English
Subjects:
Barriers
Blockchain
blockchain technology
Circular economy
Economics
electric vehicle battery production
Electric vehicles
fuzzy weighted influence nonlinear gauge system method
Industrial development
Industry 4.0
Industry 5.0
Integration
Literature reviews
Manufacturing
Manufacturing industry
Plant layout
Prioritizing
Supply
Supply chains
Sustainability
Sustainable development
Technology
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Summary:Although Industry 4.0 plays the role of a catalyst in the transition from a linear economy to a circular economy (CE), some sustainability goals are neglected by prioritizing machines over humans. Industry 5.0 insists on combining technology with human values to achieve sustainable development goals. Therefore, the integration of CE and Industry 5.0 leads to sustainable synergy in various industries, especially in manufacturing industries. However, their integration is always associated with challenges and barriers. This study identifies a set of these barriers in the electric vehicle battery production industry from the financial, technical, supply chain, cultural, and regulatory and processes perspectives through a deep literature review. The fuzzy weighted influence non‐linear gauge system method is used to analyze the relationship between identified barriers and their prioritization. Finally, we leverage the knowledge of four experts from an electric vehicle battery manufacturing company in Southeast Asia to validate the proposed approach and to rank the barriers. The results demonstrate that immature technology providers are the biggest obstacle in the integration of blockchain‐based CE and Industry 5.0 in the electric vehicle battery manufacturing industry.
ISSN:0964-4733
1099-0836
DOI:10.1002/bse.3886