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1 – 10 of 14Rashmi Ranjan Panigrahi, Avinash K. Shrivastava and Sai Sudhakar Nudurupati
Effective inventory management is crucial for SMEs due to limited resources and higher risks like cash flow, storage space, and stockouts. Hence, the aim is to explore how…
Abstract
Purpose
Effective inventory management is crucial for SMEs due to limited resources and higher risks like cash flow, storage space, and stockouts. Hence, the aim is to explore how technology and know-how can be integrated with inventory practices and impact operational performance.
Design/methodology/approach
The basis of the analysis was collecting papers from a wide range of databases, which included Scopus, Web of Science, and Google Scholar. In the first phase of the process, a search string with as many as nine related keywords was used to obtain 175 papers. It further filtered them based on their titles and abstracts to retain 95 papers that were included for thorough analysis.
Findings
The study introduced innovative methods of measuring inventory practices by exploring the impact of know-how. It is the first of its kind to identify and demonstrate how technical, technological, and behavioral know-how can influence inventory management practices and ultimately impact the performance of emerging SMEs. This study stands out for its comprehensive approach, which covers traditional and modern inventory management technologies in a single study.
Research limitations/implications
The study provides valuable insights into the interplay between technical, technological, and behavioral know-how in inventory management practices and their effects on the performance of emerging SMEs in Industry 5.0 in the light of RBV theory.
Originality/value
The RBV theory and the Industry 5.0 paradigm are used in this study to explore how developing SMEs' inventory management practices influence their performance. This study investigates the effects of traditional and modern inventory management systems on business performance. Incorporating RBV theory with the Industry 5.0 framework investigates firm-specific resources and technological advances in the current industrial revolution. This unique technique advances the literature on inventory management and has industry implications.
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B.H.V.H. Jayamaha, B.A.K.S. Perera, K.D.M. Gimhani and M.N.N. Rodrigo
Enterprise resource planning (ERP) systems that are equipped with numerous features and functionalities help to improve the profitability of construction corporations around the…
Abstract
Purpose
Enterprise resource planning (ERP) systems that are equipped with numerous features and functionalities help to improve the profitability of construction corporations around the world through enhancing the efficiency of the functions related to cost management. Thus, the purpose of this study was to investigate the applicability of ERP systems for cost management of building construction projects in Sri Lanka.
Design/methodology/approach
A qualitative technique was used in this study, which comprised two-round Delphi-based semistructured interviews. Purposive sampling was used to determine the interviewees. Content analysis was used to evaluate the collected data.
Findings
The findings of this study identified the ERP system as a strategic tool for gaining a competitive advantage for an organization while confirming 14 uses of ERP systems and 16 stages of the cost management process. Eighteen issues were finalized at the end of the interview rounds while categorizing the suitable ERP applications at each stage of the cost management process.
Originality/value
Even though there are numerous distinct studies conducted on cost management and ERP systems, there has been a lack of studies conducted on the synergy between these two areas that can be adapted for the building projects in the Sri Lankan context. Therefore, the findings of this study can bring a new paradigm to the Sri Lankan construction sector by influencing the adaption of correct ERP systems at numerous project stages by providing a competitive edge.
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Udgam Mishra and Nirma Sadamali Jayawardena
It has become obvious to companies that the metaverse may help maximize profits. The purpose of this chapter is to describe the uses and possibilities of metaverse-based virtual…
Abstract
It has become obvious to companies that the metaverse may help maximize profits. The purpose of this chapter is to describe the uses and possibilities of metaverse-based virtual and augmented reality technologies in the future. Brands can now engage with customers at a completely new level of interaction through Metaverse, which cannot be achieved within current marketing channels. Immersive XR environments may require decision makers to reexamine customer journeys, demographic characteristics, and customer personas. The main purpose of this chapter is to present an overview of metaverse applications. Further this section reveals the ways in which the business and education industry can benefit through metaverse applications. Additionally, this section reveals the real-world applications of technology in metaverse for avatar, gaming, and prospects. Finally, this chapter sheds light on the academics and practitioners by showing how metaverse elements can contribute for business processes.
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Rohit Raj, Vimal Kumar, Nagendra Kumar Sharma and Pratima Verma
The purpose of this study is to examine how Industry 4.0 (I4.0) implementation might improve marketing performance (MP). Early adopters now have the chance to capitalize on the…
Abstract
Purpose
The purpose of this study is to examine how Industry 4.0 (I4.0) implementation might improve marketing performance (MP). Early adopters now have the chance to capitalize on the advantages of this successful implementation owing to the transition to I4.0. To improve MP, businesses must be able to identify and manage their effective implementation of I4.0 technologies, which are essential to improve industrial performance.
Design/methodology/approach
A survey was created and sent to 311 samples of manufacturing companies. To investigate the hypothesis created in this context, the study includes a survey-based analysis. To present the study’s findings, partial least squares-structural equation modeling has been used.
Findings
According to the findings, it can be concluded that an efficient implementation of Industry 4.0 (EII) can improve MP by positively impacting consumer loyalty and increasing customer loyalty (CL) positively enhancing by product customization (PC). The study’s key results, however, are how both PC and CL affect MP.
Research limitations/implications
The intensive production technologies that are at the center of I4.0 will be better understood by professionals thanks to this study. The Internet of Things, artificial intelligence, additive manufacturing, sophisticated robots and many more are examples of these technologies. I4.0’s application strengthens efficiency and high-quality production. The I4.0 concept is gaining popularity in both developed and emerging countries due to its higher performance. Additionally, business people are actively working to implement I4.0 and make it a big success.
Originality/value
The study identifies the successful adoption of I4.0 that has a substantial impact on businesses’ MP. However, there is a lack of noteworthy studies that can concentrate on the marketing reach with I4.0 deployment. As a result, the goal of the current research is to comprehend how I4.0 will affect MP.
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Neeraj Kumar Jha, Naga Vamsi Krishna Jasti, Phaneendra Kiran Chaganti, Srinivas Kota and Gaurav Nagpal
Sustainable production (SP) is an efficient and influential approach of production for Indian manufacturing industries as it preserves the social, environmental and economic…
Abstract
Purpose
Sustainable production (SP) is an efficient and influential approach of production for Indian manufacturing industries as it preserves the social, environmental and economic aspects of production activities altogether. The objective of this research work is to investigate the implementation status of SP practices in Indian manufacturing industries by utilizing empirical survey methodology.
Design/methodology/approach
A questionnaire survey methodology was adapted, and the questionnaire was prepared by intense literature survey along with by opinions from experts in the field of SP. This questionnaire was sent to 753 different organizations at different locations across India. This study collected responses from manufacturing industries as per 2021 directory of Confederation of Indian Industries for the duration of 7 week. Top level managers were the target respondents. The study propagated with 242 responses which were observed complete in all respects.
Findings
The study identified that though the majority of the organizations are claiming to follow SP practices since long time, they actually are lagging in proper understanding SP practices. Majority of them are implementing it in specific departments in their organization. They are coming across multiple barriers in the implementation of SP practices among which unrecognized financial benefits and lack of proper government policies are prime. The study suggests that the Indian organizations needs feasible framework with adaptable guidelines.
Research limitations/implications
This work is centered towards manufacturing organizations and targets only the leading industrial sectors in India. Thus, the outcomes of this study may not be generalized for all the sectors of Indian industries. Additionally, it can also be assumed that higher number of responses would have contributed to more clear visualization of implementation status of SP practices among Indian industries.
Originality/value
Sustainable approaches in production activities are very lucrative for industries worldwide, due to their advantages. Numerous researchers are also putting their efforts to explore more about various aspects of sustainability. Mostly they are focusing on single or few aspects of SP and its implementation in particular region or country. Very few research works are dedicated to knowing the implementation status of SP in Indian manufacturing industries and they are limited in various aspects. This study presents a dedicated approach to investigate the implementation status of SP practices in Indian manufacturing industries.
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Gede Ariadi, Desak Nyoman Sri Werastuti and Komala Inggarwati
This research aims to analyze the influence of sustainable supply chains on the performance of farmer groups in the province of Bali, Indonesia. The authors focus on mediating…
Abstract
Purpose
This research aims to analyze the influence of sustainable supply chains on the performance of farmer groups in the province of Bali, Indonesia. The authors focus on mediating variables that were Joint Efforts and Sharing Activities based on resource dependence theory.
Design/methodology/approach
This research data used observations of 214 farmer groups in Bali Province with partial least square-structural equation modelling analysis.
Findings
The critical findings of this study are as follows: sustainable supply chain has a direct effect on sustainability performance; and joint efforts and sharing activities concurrently partially mediate the link between sustainable supply chain and sustainability performance. In explicit, farmers’ sharing activities are a more vital mediating variable than joint efforts in the researched linkage.
Practical implications
Joint efforts and the sharing of activities have an essential role in supply chain development that encourages farmer groups to collaborate with other supply chain parties to achieve sustainability performance.
Originality/value
Sustainable development is the primary goal of the organization, but problems occur in the horticultural supply chain, which is based on economic, environmental and social aspects.
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Mehmet Bulent Durmusoglu and Canan Aglan
The inherent variability on process times and demand are the factors that prevent the efficient application of lean philosophy in multi-project product development (PD…
Abstract
Purpose
The inherent variability on process times and demand are the factors that prevent the efficient application of lean philosophy in multi-project product development (PD) environments. Considering this variability, a hybrid push–pull project control system is developed, and value stream costing (VSC) analysis is performed to reflect the relation between project lead time, capacity and project cost. The assessment of the push/pull project control on lead time improvement and long-term savings on capacity have been aimed with the proposed complete design structure.
Design/methodology/approach
In a team-based structure, formed through clustering, push control techniques for planning tasks within cross-functional teams and pull control techniques for planning tasks between cross-functional teams are developed. The final step evaluates the proposed structure through VSC and long-term savings have been pointed out, especially in terms of freed-up capacity. For the validation of the proposed methodology, an office furniture manufacturing firm’s PD department has been considered and the performance of the hybrid system has been observed through simulation experiments and based on the simulation results, the lean system is evaluated by VSC.
Findings
The results of simulation experiments show a superior performance of the proposed hybrid push/pull project control mechanism under different settings of cycle time between projects or shortly project cycle time, dispatching rules within teams and variability levels. The results of the Box-Score (tool to apply VSC) indicate increased capacity in the long term to add extra projects during the planning period with the same project lead time and without additional cost.
Research limitations/implications
Although extensive simulation experiments have been performed to quantify the effect of project control structure and positive results have been reported on lead time and cost, the proposed design structure has not been tested in all existing PD environments.
Originality/value
To the best of authors’ knowledge, the quantification of the effect of hybrid project control with VSC is the first attempt to be applied in lean PD projects.
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Ahmad Abdullah, Shantanu Saraswat and Faisal Talib
The primary aim of this research is to conduct a comprehensive investigation into the essential elements of Industry 4.0 implementation within Indian Micro, Small and Medium…
Abstract
Purpose
The primary aim of this research is to conduct a comprehensive investigation into the essential elements of Industry 4.0 implementation within Indian Micro, Small and Medium Enterprises (MSMEs). Acknowledging the MSME sector as a crucial contributor to the Indian economy and industrial development, the study delves into the assessment of MSMEs based on Industry 4.0 components. Additionally, it explores the profound impact of these components on various performance factors, including organizational performance, sustainability performance and human-related aspects. The paper further ranks these identified components based on their significance within the MSME sector.
Design/methodology/approach
Employing a combination of methodological approaches, the research utilizes the Best and Worst Method (BWM), Data Envelopment Analysis (DEA) and calculates the Maturity Index for Industry 4.0 components. The BWM, a recognized multi-criteria decision-making technique, is initially applied to determine the weights and rankings of the identified components. Furthermore, the study evaluates 30 MSMEs, spanning manufacturing and service sectors, through the DEA approach. Industry 4.0 components are treated as inputs, and performance factors serve as outputs. Data for the analysis are collected through questionnaires distributed to the selected MSMEs. Lastly, the Maturity Index for MSMEs is also calculated.
Findings
From the result of the BWM method “assistive manufacturing” was found to be a highly weighted key component of Industry 4.0. From the DEA analysis out of 30 MSMEs 13 SMEs were highlighted as being efficient, whereas 17 MSMEs were judged to be inefficient. Furthermore, from the maturity index calculation, overall Maturity Index was determined to be 3.33 which shows that Industry 4.0 is in its initial stage of implementation, but it has gained pace in its implementation.
Practical implications
The research contributes to practical implications by offering a more accurate assessment of the state of Industry 4.0 implementation within MSMEs. The introduced maturity index proves instrumental in pinpointing key components that have received inadequate attention. This information is crucial for MSME managers and policymakers, guiding them in allocating resources effectively, addressing areas requiring attention and facilitating progress in the implementation of Industry 4.0. The study serves as a valuable tool for MSMEs to enhance their overall operational efficiency.
Originality/value
The research’s originality lies in its application of a comprehensive approach, combining BWM, DEA and the introduction of a maturity index for Industry 4.0 components in the MSME context. By employing these methodologies, the study not only identifies influential components but also provides a nuanced understanding of their relative significance. The research contributes significantly to the broader understanding of Industry 4.0 adoption, particularly, in the vital MSME sector within the Indian context. The findings are valuable for researchers, practitioners and policymakers seeking insights into improving the efficiency and effectiveness of MSMEs in the era of Industry 4.0.
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Gayatri Panda, Monika Arora, Indrajit Ghoshal, Jose Arturo Garza-Reyes and Mahender Singh Kaswan
With the evolving landscape of technology and innovations, metaverse has revealed a huge potential for changing the world. Gradually, it has expanded its wings to different…
Abstract
Purpose
With the evolving landscape of technology and innovations, metaverse has revealed a huge potential for changing the world. Gradually, it has expanded its wings to different sectors, including higher education. The key purpose of this research work is to synthesize the existing literature on metaverse in higher education and develop future research directions for researchers.
Design/methodology/approach
The present study uses the “Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA)” technique to recognize relevant articles from the database, i.e. SCOPUS. Furthermore, it conducts a “bibliometric analysis and systematic literature review” to explore the research area of metaverse in higher education.
Findings
The findings reveal that the synthesis and analysis of existing literature led to the identification of an intellectual structure, which resulted in the formation of four clusters. These clusters are defined as attributes related to metaverse applications in higher education, sustainable management of complex learning practices, customization of the teaching–learning process through the metaverse and model development. The theoretical structure informs the co-word analysis and thematic map, identifying four themes: the basic theme, motor theme, niche theme and decline theme. Finally, the social structure is assessed in terms of the author’s network and collaboration across countries.
Research limitations/implications
The study investigated the conceptual structure by developing a thematic map and social structure by measuring the relationship between country–author collaboration through bibliographic coupling (BC). The study also identified future research avenues based on the “TCCM (theory, context, characteristics, and methodology)” framework for future researchers and practitioners.
Originality/value
The research study thrives on enlarging the review scope to measure the metaverse’s role in higher education. Though bibliometric studies have been developed in the metaverse, no study has attempted to measure the relationship between metaverse in higher education using bibliometric and TCCM framework. Thus, developing a synthesized work provides a comprehensive picture of the research domain.
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Hai-Ninh Do, Ngoc Bich Do, Thao Kim Nguyen and Tra My Nguyen
This study investigates the impact of personal, organisational and innovation capability on technological innovation and further impacts on small and medium enterprises’ (SMEs'…
Abstract
Purpose
This study investigates the impact of personal, organisational and innovation capability on technological innovation and further impacts on small and medium enterprises’ (SMEs') performance during uncertainty. Moreover, the moderator role of social sustainability orientation on the relationships of technological innovation, innovation performance and organisational resilience is also examined.
Design/methodology/approach
A quantitative approach using 524 SME responses and Smart PLS 4.0 are adopted in this research.
Findings
The results indicate a correlation between three types of capabilities with technological innovation and further conversion to organisational resilience. Additionally, social sustainability shows a negative moderating effect between innovation performance and organisational resilience. The research findings advanced the resources-based-view (RBV) by proposing three capability dimensions as platforms for SMEs' innovation success, which later generate resilience possibilities. Specifically highlighted in this study are the personal capabilities of managers, organisational capabilities and innovation capabilities in setting business objectives and resource allocation towards economic and sustainable goals during turbulence and uncertainty.
Originality/value
This study investigates the role of technological innovation and innovation on SME resilience. Notably, we deploy the social sustainability orientation as moderators towards the relationship between technological innovation, innovation performance and SMEs’ resilience. SMEs employing social sustainability orientation might negatively inhibit the translation from innovation performance to SME resilience, providing novel insights into navigating uncertainty in modern business. It has no effect on the relationship between technological innovation and its consequences.
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