Transformative Procurement Trends: Integrating Industry 4.0 Technologies for Enhanced Procurement Processes
Background
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. Methods: this study addresses a critical knowledge gap by conducting a comprehensive review of 111 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. Results: 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. Conclusion: the paper underscores pivotal trends and insights for the evolution of Procurement 4.0, illuminating a path toward more efficient supply chain management.
Other Information
Published in: Logistics
License: https://creativecommons.org/licenses/by/4.0/
See article on publisher's website: https://dx.doi.org/10.3390/logistics7030063
Funding
Open Access funding provided by the Qatar National Library.
History
Language
- English
Publisher
MDPIPublication Year
- 2023
License statement
This Item is licensed under the Creative Commons Attribution 4.0 International License.Institution affiliated with
- Hamad Bin Khalifa University
- College of Science and Engineering - HBKU
- Qatar Gas Transport Company Ltd. (NAKILAT)