A mixed-method analysis of Industry 4.0 technologies in value generation for collaborative consumption companies

Hannan Amoozad Mahdiraji · Hojatallah Sharifpour Arabi · Moein Beheshti · Demetris Vrontis

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Sharing Economy and Platforms Digital Transformation in Industry Service and Product Innovation

Abstract

Purpose This research aims to extract Industry 4.0 technological building blocks (TBBs) capable of value generation in collaborative consumption (CC) and the sharing economy (SE). Furthermore, by employing a mixed methodology, this research strives to analyse the relationship amongst TBBs and classify them based on their impact on CC. Design/methodology/approach Due to the importance of technology for the survival of collaborative consumption in the future, this study suggests a classification of the auxiliary and fundamental Industry 4.0 technologies and their current upgrades, such as the metaverse or non-fungible tokens (NFT). First, by applying a systematic literature review and thematic analysis (SLR-TA), the authors extracted the TBBs that impact on collaborative consumption and SE. Then, using the Bayesian best-worst method (BBWM), TBBs are weighted and classified using experts’ opinions. Eventually, a score function is proposed to measure organisations’ readiness level to adopt Industry 4.0 technologies. Findings The findings illustrated that virtual reality (VR) plays a vital role in CC and SE. Of the 11 TBBs identified in the CC and SE, VR was selected as the most determinant TBB and metaverse was recognised as the least important. Furthermore, digital twins, big data and VR were labelled as “fundamental”, and metaverse, augmented reality (AR), and additive manufacturing were stamped as “discretional”. Moreover, cyber-physical systems (CPSs) and artificial intelligence (AI) were classified as “auxiliary” technologies. Originality/value With an in-depth investigation, this research identifies TBBs of Industry 4.0 with the capability of value generation in CC and SE. To the authors’ knowledge, this is the first research that identifies and examines the TBBs of Industry 4.0 in the CC and SE sectors and examines them. Furthermore, a novel mixed method has identified, weighted and classified pertinent technologies. The score function that measures the readiness level of each company to adopt TBBs in CC and SE is a unique contribution.

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References

2003Towards a Methodology for Developing Evidence‐Informed Management Knowledge by Means of Systematic Review 2014Best-worst multi-criteria decision-making method 2021Scientific procedures and rationales for systematic literature reviews (SPAR‐4‐SLR)2018The limits of trust-free systems: A literature review on blockchain technology and trust in the sharing economy 2019Bayesian best-worst method: A probabilistic group decision making model 2021How to Promote User Purchase in Metaverse? A Systematic Literature Review on Consumer Behavior Research and Virtual Commerce Application Design 2023Leveraging digital capabilities toward a circular economy: Reinforcing sustainable supply chain management with Industry 4.0 technologies 2021Probiotics, prebiotics and synbiotics improved the functionality of aquafeed: Upgrading growth, reproduction, immunity and disease resistance in fish

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