Transformative Procurement Trends: Integrating Industry 4.0 Technologies for Enhanced Procurement Processes
<i>Background</i>: the advent of Industry 4.0 (I4.0) innovations has revolutionized supply chain management through technologies like the Internet of Things (IoT) and Artificial Intelligence (AI) integrated into procurement processes. <i>Methods</i>: this study addresses a cr...
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| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2023-09-01
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| Series: | Logistics |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2305-6290/7/3/63 |
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| Summary: | <i>Background</i>: the advent of Industry 4.0 (I4.0) innovations has revolutionized supply chain management through technologies like the Internet of Things (IoT) and Artificial Intelligence (AI) integrated into procurement processes. <i>Methods</i>: this study addresses a critical knowledge gap by conducting a comprehensive review of <i>111</i> papers sourced from the Scopus database. These papers are classified into seven sub-themes encompassing I4.0 or procurement 4.0 (P4.0), big data, IoT, additive manufacturing, blockchain, e-procurement, and AI. <i>Results</i>: the investigation reveals that I4.0 technologies, particularly e-procurement and blockchain, have garnered substantial attention. Such technologies offer diverse value propositions, encompassing streamlined supplier evaluation, lead time reduction, cost optimization, and enhanced data security. <i>Conclusion</i>: the paper underscores pivotal trends and insights for the evolution of Procurement 4.0, illuminating a path toward more efficient supply chain management. |
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| ISSN: | 2305-6290 |