Unveiling barriers to the integration of blockchain-based circular economy and Industry 5.0 in manufacturing industries: A strategic prioritization approach

Devika Kannan*, Alireza Shamekhi Amiri, Mayssam Tarighi Shaayesteh, Arash Khalili Nasr, Hassan Mina

*Corresponding author for this work

Research output: Contribution to journalJournal articleResearchpeer-review

Abstract

Although Industry 4.0 plays the role of a catalyst in the transition from a linear economy to a circular economy (CE), some sustainability goals are neglected by prioritizing machines over humans. Industry 5.0 insists on combining technology with human values to achieve sustainable development goals. Therefore, the integration of CE and Industry 5.0 leads to sustainable synergy in various industries, especially in manufacturing industries. However, their integration is always associated with challenges and barriers. This study identifies a set of these barriers in the electric vehicle battery production industry from the financial, technical, supply chain, cultural, and regulatory and processes perspectives through a deep literature review. The fuzzy weighted influence non-linear gauge system method is used to analyze the relationship between identified barriers and their prioritization. Finally, we leverage the knowledge of four experts from an electric vehicle battery manufacturing company in Southeast Asia to validate the proposed approach and to rank the barriers. The results demonstrate that immature technology providers are the biggest obstacle in the integration of blockchain-based CE and Industry 5.0 in the electric vehicle battery manufacturing industry.

Original languageEnglish
JournalBusiness Strategy and the Environment
ISSN0964-4733
DOIs
Publication statusE-pub ahead of print - 2024

Bibliographical note

Publisher Copyright:
© 2024 The Author(s). Business Strategy and the Environment published by ERP Environment and John Wiley & Sons Ltd.

Keywords

  • blockchain technology
  • circular economy
  • electric vehicle battery production
  • fuzzy weighted influence nonlinear gauge system method
  • Industry 4.0
  • Industry 5.0

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