Application of the Industry 4.0 Technologies to Enhance Supply Chain Resilience in a Vuca World

Abstract

The present business scenario is characterized by volatility, uncertainty, complexity, and ambiguity, presenting significant challenges for supply chain management. To overcome these supply chain challenges, there is growing need to explore the application of Industry 4.0 technologies, that make the supply chain more responsive, intelligent and predictive. The research aims to study the potential of industry 4.0 technologies, such as data analytics, artificial intelligence, and the Internet of Things, can be explore in order to enhance the sustainability and to make the supply chain resilient under the VUCA environment. This study interviews experts in the dairy business in India’s National Capital Region and reviews the relevant literature to identify critical enablers. In order to establish a dairy supply chain system that could withstand and thrive in a volatile, uncertain, complex, and ambiguous (VUCA) setting, it was essential to analyze enablers and employ the Fuzzy Decision-Making Trial and Evaluation Laboratory (Fuzzy DEMATEL) to mitigate the uncertainty and imprecision of field specialists. Findings indicate that of the enablers, “ Fair-Pay Blockchain” has the greatest “Prominence” and “Relation,” hence maximizing its impact. The research classifies relationships based on cause and effect, interaction level, and facilitator status. Managers may be able to use this study’s findings to build a more robust and efficient supply chain system, which would boost their company’s bottom line.