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Modelling of an Economic Process Using Smart Technologies in Manufacturing in the Context of Industry 4.0: A Case Study

Author

Listed:
  • Andreea Gabriela Tanase

    (Bucharest University of Economic Studies, Bucharest, Romania)

  • Alexandru Florin Preda

    (Bucharest University of Economic Studies, Bucharest, Romania)

  • Raluca Florentina Cretu

    (Bucharest University of Economic Studies, Bucharest, Romania)

  • Viorel Costin Banta

    (Bucharest University of Economic Studies, Bucharest, Romania)

Abstract

ERP-type systems emerged with companies needing to manage complex economic processes, such as supply chain management or sales e-commerce. This article benchmarks step by step how an existing business process in a complex information system such as ERP can be modelled, adapted, and implemented using emerging intelligent technologies. Based on a practical case for a factory in Romania producing subassemblies for the automotive industry, the authors seek to answer three questions: 1) What impact does integrating smart technologies have on the business environment to be competitive in an increasingly technological world? 2) Can the definition of relevant KPIs necessary to highlight the effectiveness of adopting and adapting smart technologies in day-to-day business be a factor in measuring the effectiveness of integrating emerging technologies? 3) Does reshaping business processes by integrating emerging technologies have a positive effect on the business environment? In this practical case, the research method used to remodel the economic processes was the interventionist method. Special attention was paid to how employees, the company's main resource, adapted to the changes that came with integrating these smart technologies into their way of working and how they perceived solving problems using smart technologies. The findings and results of this scientific paper support the positive correlation between the successful implementation of intelligent solutions and the contribution of employees putting them into practice. Thus, adopting and adapting intelligent solutions leads to better positioning the business in a world of constant competition. This paper provides a perspective on how companies need to rethink how they do business and apply policies that make technologies work to help business run smoothly in a changing world and an increasingly pragmatic and unpredictable business environment.

Suggested Citation

  • Andreea Gabriela Tanase & Alexandru Florin Preda & Raluca Florentina Cretu & Viorel Costin Banta, 2024. "Modelling of an Economic Process Using Smart Technologies in Manufacturing in the Context of Industry 4.0: A Case Study," Oblik i finansi, Institute of Accounting and Finance, issue 4, pages 169-176, December.
  • Handle: RePEc:iaf:journl:y:2024:i:4:p:169-176
    DOI: 10.33146/2307-9878-2024-4(106)-169-176
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    More about this item

    Keywords

    RPA – robotic process automation; smart technologies; management; ERP; Industry 4.0; economic process; accounting;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature

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