Industry 5.0 technologies and firm performance: mediating role of supply chain management
Faisol Faisol, Sri Aliami, Risky Aswi Ramadhani, Vikas Kumar
Abstract
This study investigates the pivotal role of supply chain management (SCM) intermediaries in transforming the potential benefits of IOT, Big Data, AI, and Block chain technologies towards the tangible business outcomes. By synthesizing insights from empirical data, the study elucidates how SCM acts as a catalyst in optimizing the implementation and utilization of these advanced technologies in Industry 5.0 Era. Data were collected from 159 companies that have either adopted or are in the process of adopting these technologies within their supply chain operations. Utilizing Partial Least Square-Structural Equation Modelling (PLS-SEM), the study explores and validates the intricate relationships between the variables in the research model. The findings affirm a positive correlation between technology adoption and company performance, highlighting SCM’s significant mediating role. The results indicate that the beneficial impacts of IOT, Big Data, AI, and Block chain on corporate performance are substantially moderated by the effectiveness of SCM practices. Enhancing SCM capabilities is crucial for companies to fully leverage evolving technological advancements and achieve the comprehensive performance improvements.