A1 Journal article (refereed), original research

Industry 4.0 and the circular economy: A literature review and recommendations for future research


LUT Authors / Editors

Publication Details
Authors: Awan Usama, Sroufe Robert, Shahbaz Muhammad
Publisher: Wiley: 24 months
Publication year: 2021
Language: English
Related Journal or Series Information: Business Strategy and the Environment
Start page: 1
End page: 23
Number of pages: 23
ISSN: 0964-4733
eISSN: 1099-0836
JUFO-Level of this publication: 1
Open Access: Not an Open Access publication

Abstract

Research regarding the Fourth Industrial Revolution (Industry
4.0) and the circular economy has gained traction since 2014. Paralleling the growth in the internet of
things (IoT), the circular economy poses both risks and opportunities to
various stakeholders in its development. This
literature review aims to identify Industry 4.0 stakeholders' interests
and expectations regarding integrating
how the IoT can be part of circular economy management. Contributions include identifying
various IoT tools for dealing with circular economy challenges while
contributing to best practices implementation. The transition of the circular economy within Industry 4.0 requires a
better understanding of government,
suppliers, international organizational interests, and expectations regarding
the IoT. This study enables future research on circular
economy practices and their potential for a range of sustainability benefits to
manufacturing firms. This study's findings allow practitioners and
researchers to understand the literature and critical elements of the
transition towards a more circular economy.


Last updated on 2021-20-01 at 10:05