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Leveraging the industry 4.0 technologies for improving agility of project procurement management processes

Author

Listed:
  • Santosh B. Rane

    (Sardar Patel College of Engineering, Bhavan’s Campus)

  • Yahya A. M. Narvel

    (Sardar Patel College of Engineering, Bhavan’s Campus)

Abstract

Recently, due to continually varying demands and shorter time to market, the existing Project Procurement Management (PPM) processes are incapable of coping up with the pace. There is a need of an agile model to manage procurement projects effectively. This article aims to developing strategies for executing the PPM processes with more agility by leveraging the capabilities and merits of industry 4.0 technologies along with selective Critical Success Factors (CSFs). For improving agility in PPM, this study identifies CSFs from the literature and experts’ review, the CSFs were then prioritized based on their significance, followed by establishing relationships and exploring interactions among CSFs using Total Interpretitive Structureal Modelling (TISM) and Fuzzy Cross-Impact Matrix Multiplication Applied to Classification (MICMAC). Furthermore, an agile project implementation plan was developed based on the findings of TISM and FuzzyMICMAC, which provides a systematic approach for strategically achieving the CSFs. Lastly, strategies were developed to improve agility in key processes of PPM by utilizing the new-age technologies Industry 4.0 like Internet of Things (IOT), Mobility, Business Intelligence, Blockchain, Chatbot, Robotic Process Automation (RPA) and other technologies. The strategies and the agile project implementation plan thus developed as an outcome of this research can be leveraged by industries of various domains for improving agility in any of their business processes.

Suggested Citation

  • Santosh B. Rane & Yahya A. M. Narvel, 2021. "Leveraging the industry 4.0 technologies for improving agility of project procurement management processes," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 12(6), pages 1146-1172, December.
    • Handle: RePEc:spr:ijsaem:v:12:y:2021:i:6:d:10.1007_s13198-021-01331-4
    DOI: 10.1007/s13198-021-01331-4
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    References listed on IDEAS

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    2. Govindan, Kannan & Jain, Preeti & Kr. Singh, Rajesh & Mishra, Ruchi, 2024. "Blockchain technology as a strategic weapon to bring procurement 4.0 truly alive: Literature review and future research agenda," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 181(C).
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