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Data-driven decision making with Blockchain-IoT integrated architecture: a project resource management agility perspective of industry 4.0

Author

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  • Santosh B. Rane

    (Sardar Patel College of Engineering)

  • Yahya Abdul Majid Narvel

    (Sardar Patel College of Engineering)

Abstract

Recently due to excessive competition, un-predictable market, disruptive business models and exponential growth in the complexity of technology and innovation, the existing PRM tools and techniques do not cope effectively, leading to scarcity/abundance of resources and induced overheads, which is the major challenge faced by PRM. This article discusses various key challenges faced by asset intensive EPC (Engineering, Procurement and Construction) industry related to managing their resources. Further, the challenges were modelled and analyzed using Ishikawa diagram and Pareto chart for identifying the significant causes. Considering the mentioned challenges, this article develops a Blockchain-IoT integrated architecture for providing Business Intelligence to improve agility of PRM process for the EPC industry. The developed architecture provides EPC industries with the capabilities like real-time data capture along with autonomous coordination of the resources with increased capacity of decentralization, trust-less transactions, security and transparency leading to improved process agility. This article gives a new dimension towards utilization of Blockchain blended with the boons of IoT technology and also gives a way forward to other asset-intensive industries to re-design their PRM in a more agile way.

Suggested Citation

  • Santosh B. Rane & Yahya Abdul Majid Narvel, 2022. "Data-driven decision making with Blockchain-IoT integrated architecture: a project resource management agility perspective of industry 4.0," 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. 13(2), pages 1005-1023, April.
    • Handle: RePEc:spr:ijsaem:v:13:y:2022:i:2:d:10.1007_s13198-021-01377-4
    DOI: 10.1007/s13198-021-01377-4
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    References listed on IDEAS

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    1. Arun Bhiva Rane & Vivek K. Sunnapwar & Santosh Rane, 2016. "Strategies to overcome the HR barriers in successful lean implementation," International Journal of Procurement Management, Inderscience Enterprises Ltd, vol. 9(2), pages 223-247.
    2. Santosh B. Rane & Yahya A.M. Narvel & Niloy Khatua, 2017. "Development of mechanism for mounting secondary isolating contacts (SICs) in air circuit breakers (ACBs) with high operational reliability," 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. 8(2), pages 1816-1831, November.
    3. Gosling, J. & Purvis, L. & Naim, M.M., 2010. "Supply chain flexibility as a determinant of supplier selection," International Journal of Production Economics, Elsevier, vol. 128(1), pages 11-21, November.
    4. Agarwal, Ashish & Shankar, Ravi & Tiwari, M.K., 2006. "Modeling the metrics of lean, agile and leagile supply chain: An ANP-based approach," European Journal of Operational Research, Elsevier, vol. 173(1), pages 211-225, August.
    5. Santosh B. Rane & Yahya A. M. Narvel, 2016. "Reliability assessment and improvement of air circuit breaker (ACB) mechanism by identifying and eliminating the root causes," 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. 7(1), pages 305-321, December.
    6. Santosh B. Rane & Nandkumar Mishra, 2018. "Roadmap for business analytics implementation using DIPPS model for sustainable business excellence: case studies from the multiple fields," International Journal of Business Excellence, Inderscience Enterprises Ltd, vol. 15(3), pages 308-334.
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    Cited by:

    1. Jaya Kumari & Ramin Karim & Adithya Thaduri & Pierre Dersin, 2022. "A framework for now-casting and forecasting in augmented asset management," 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. 13(5), pages 2640-2655, October.
    2. Freire de Souza, Meiry Altino & Aguilar Madeira, Maria José & Carvalho, Luísa & Filipe Alexandre, Pereira Duarte & Lurdes, Simão, 2024. "Confluence of Factors that Influence Business Model by Digitalisation and Industry 4.0 Technologies," Cuadernos de Gestión, Universidad del País Vasco - Instituto de Economía Aplicada a la Empresa (IEAE).

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