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Equipment performance helps the manufacturing sector achieve operational and financial improvements despite process variations. However, the literature lacks a clear index or metric to quantify the monetary advantages of enhanced equipment performance. Thus, the paper presents two innovative monetary performance measures to estimate the financial advantages of enhancing equipment performance by isolating the effect of manufacturing fluctuations such as product mix price, direct and indirect characteristics, and cost changes.

The research provides two measures, ISB (Improvement Saving Benefits) and IEB (Improvement Earning Benefits), to assess equipment performance improvements. The effectiveness of the metrics is validated through a three stages approach, namely (1) experts' binary opinion, (2) sample, and (3) actual cases. The relevant data may be collected through accounting systems, purpose-built software, or electronic spreadsheets.

The findings suggest that both measures provide an effective cost–benefit analysis of equipment performance enhancement. The measure ISB indicates savings from performance increases when equipment capacity is greater than product demand. IEB is utilised when equipment capacity is less than product demand. Both measurements may replace the unitary cost variation, which is subject to manufacturing changes.

Manufacturing businesses may utilise the ISB and IEB metrics to conduct a systematic analysis of equipment performance and to appreciate the financial savings perspective in order to emphasise profitability in the short and long term.

The study introduces two novel financial equipment performance improvement indicators that distinguish the effects of manufacturing variations. Manufacturing variations cause cost advantages from operational improvements to be misrepresented. There is currently no approach for manufacturing organisations to calculate the financial advantages of enhancing equipment performance while isolating production irregularities.

Industry 4.0 has put forward a smart perspective on managing supply chain networks and their operations. The current manufacturing system is primarily data-driven. Industries are deploying new emerging technologies in their operations to build a competitive edge in the business environment; however, the true potential of smart manufacturing has not yet been fully unveiled. This research aims to extensively analyse emerging technologies and their interconnection with smart manufacturing in developing smarter supply chains.

This research endeavours to establish a conceptual framework for a smart supply chain. A real case study on a smart factory is conducted to demonstrate the validity of this framework for building smarter supply chains. A comparative analysis is carried out between conventional and smart supply chains to ascertain the advantages of smart supply chains. In addition, a thorough investigation of the several factors needed to transition from smart to smarter supply chains is undertaken.

The integration of smart technology exemplifies the ability to improve the efficiency of supply chain operations. Research findings indicate that transitioning to a smart factory radically enhances productivity, quality assurance, data privacy and labour efficiency. The outcomes of this research will help academic and industrial sectors critically comprehend technological breakthroughs and their applications in smart supply chains.

This study highlights the implications of incorporating smart technologies into supply chain operations, specifically in smart purchasing, smart factory operations, smart warehousing and smart customer performance. A paradigm transition from conventional, smart to smarter supply chains offers a comprehensive perspective on the evolving dynamics in automation, optimisation and manufacturing technology domains, ultimately leading to the emergence of Industry 5.0.

Second-order system-dynamics engineering (SOSDE) involves constructing and running enterprise manufacturing simulation models with new proposals for operational processes, byproducts, supply chain and/or downstream marketing designs. This paper aims to describe sustainability the principal lessons from enacting SOSDE research for achieving goals in large manufacturing firms.

This study is a case research commentary in the agricultural industry that contributes abductively derives six principal lessons from SOSDE research on introducing sustainability-focused manufacturing and product innovations. Operational processes in large-scale poultry processing plants in an emerging market represent the specific industry and firm domain of this case study. Alternative SOSDE simulation models of decisions, materials flow and outcomes with versus without operational innovations were constructed following one-to-one interviews with experienced farm managers and entrepreneurs.

The principles demonstrate how large farms in a developing nation (i.e. Bangladesh) go about adopting radically innovative manufacturing, supply chain and marketing operations to improve traditional operations. This study confirms and expands on the general observation that SOSDE can help achieve sustainability and environmental, social and governance goals, contribute new value outcomes by converting unused production wastes into valuable byproducts and introduce design efficiencies in production, supply chain and marketing processes. SOSDE complements, while being a revolutionary departure from, “six sigma management programs” that focus on achieving exceptional and near mistake-free manufacturing operations. Both represent distinct philosophies and sets of actions that sometimes can conflict with one another. Embracing both successfully in the same enterprise is a goal that may appear unreachable, seemingly impossible to achieve and yet represents a manufacturing/marketing epitome that is observable in exceptional enterprises.

This paper may generate controversy as well as advance interest in applying SOSDE in introductions of improved manufacturing, supply chain and marketing operations aiming to accomplish radical improvements in sustainability goals.

This commentary describes how using SOSDE and running alternative production simulations with versus without including superior, radically new, process innovations enable the firm to find and eliminate glitches in system changes and reduce the fear associating with breakdowns and financial losses due to inadequate knowledge of operating new industrial procedures and outcomes.

Introductions of superior radically new innovations in industrial manufacturing and marketing via SOSDE frequently include manufacturing firms embracing new environment sustainability objectives and additional marketable byproducts from the firm's main productions lines. This commentary offers details on how this process is enacted in poultry manufacturing in an economically emerging nation.

Running simulations in SOSDE research offers a low-cost, fast and in-depth method to test “what-if” impacts of enhanced and radical innovations into product/service manufacturing operations – benefits supporting the recommendation to apply systems dynamics in business and industrial marketing.

The purpose of this paper is to investigate how different manufacturing technologies are bundled together and how these bundles influence operations performance and, indirectly, business performance. With the emergence of Industry 4.0 (I4.0) technologies, manufacturing companies can use a wide variety of advanced manufacturing technologies (AMT) to build an efficient and effective production system. Nevertheless, the literature offers little guidance on how these technologies, including novel I4.0 technologies, should be combined in practice and how these combinations might have a different impact on performance.

Using a survey study of 165 manufacturing plants from 11 different countries, we use factor analysis to empirically derive three distinct manufacturing technology bundles and structural equation modeling to quantify their relationship with operations and business performance.

Our findings support an evolutionary rather than a revolutionary perspective. I4.0 technologies build on traditional manufacturing technologies and do not constitute a separate direction that would point towards a fundamental digital transformation of companies within our sample. Performance effects are rather weak: out of the three technology bundles identified, only “automation and robotization” have a positive influence on cost efficiency, while “base technologies” and “data-enabled technologies” do not offer a competitive advantage, neither in terms of cost nor in terms of differentiation. Furthermore, while the business performance impact is positive, it is quite weak, suggesting that financial returns on technology investments might require longer time periods.

Relying on a complementarity approach, our research offers a novel perspective on technology implementation in the I4.0 era by investigating novel and traditional manufacturing technologies together.

The purpose of this paper is to explore and disseminate knowledge about quantum-inspired computing technology's potential to solve complex challenges faced by the operational agility capability in Industry 4.0 manufacturing and logistics operations.

A multi-case study approach is used to determine the impact of quantum-inspired computing technology in manufacturing and logistics processes from the supplier perspective. A literature review provides the basis for a framework to identify a set of flexibility and agility operational capabilities enabled by Industry 4.0 Information and Digital Technologies. The use cases are analyzed in depth, first individually and then jointly.

Study results suggest that quantum-inspired computing technology has the potential to harness and boost companies' operational flexibility to enhance operational agility in manufacturing and logistics operations management, particularly in the Industry 4.0 context. An exploratory model is proposed to explain the relationships between quantum-inspired computing technology and the deployment of operational agility capabilities.

This is study explores the use of quantum-inspired computing technology in Industry 4.0 operations management and contributes to understanding its potential to enable operational agility capability in manufacturing and logistics operations.

The study proposes to determine the impending challenges to lean integration with Industry 4.0 (I4.0) in manufacturing that aims at achieving desired operational performance. Integrating lean and Industry 4.0 as the two industrial approaches is synergetic in providing operational benefits such as increasing flexibility, improving productivity, reducing cost, reducing delivery time, improving quality and value stream mapping (VSM). There is an urgent need to understand the integrated potential of OPEX strategies like lean manufacturing and also to determine the challenges for manufacturing SMEs and further suggest a strategic roadmap for the future.

The current work has used a combined approach on interpretative structural modeling (ISM) and fuzzy Matrice d'impacts croisés multiplication appliquée á un classment (MICMAC) approach to structure the multiple level analysis for the implementation challenges to integrate OPEX strategies with Industry 4.0.

The research has found that the indulgence of various implementation issues like lack of standardization, lack of vision and lack of trained support, all are the major challenges that inhibit the integration of OPEX strategies with I4.0 technologies in manufacturing.

The research has investigated the internal factors acting as a roadblock to lean and Industry 4.0 adoption. Further studies may consider external factors to lean and Industry 4.0 implementation. Also, further research may consider other operational excellence approaches and extend further to relevant sectors.

This study provides the analysis of barriers that is useful for the managers to take strategic actions for implementing OPEX strategies with I4.0 in smart manufacturing.

The research determines the adoption challenges towards the integrated framework. This is the first study to explore challenges in integrating OPEX strategies with I4.0 technologies in manufacturing SMEs.

A quantitative theoretical model is proposed to measure how productivity performance can be affected by strategic decisions related to specific competitive priorities.

This study proposes the Primary Transformation Model (PTM) and an equation to measure cause-and-effect relationships between productivity and competitive priorities.

The interdependence between productivity and competitive priorities was studied using the PTM and the proposed model indicates that strategies that improve external performance also impact internal productivity. It was also observed that the compatibility between competitive priorities depends on the initial manufacturing conditions and the implementation method adopted.

The proposed model is theoretical and, as such, is an abstraction of reality and does not consider all possible aspects. It consists of a novel approach that still requires further empirical testing. The PTM provides insights about the trade-offs between productivity and strategic objectives, as well, contributes to the ongoing research on manufacturing strategy and can be further developed in future studies.

The main practical implication is to allow companies to relate their strategic decisions to their productivity performance.

This research also contributes to societal issues by enabling firms to better align strategic objectives and operations, which ultimately allows offering products more suited to the needs of customers, thus making better use of the required resources and favoring economic growth.

The model proposed allows objective assessment of actions aiming at operational efficiency and effectiveness, in addition to providing insights into cause-and-effect relationships between productivity and competitive priorities. The model can also be used in empirical investigations on manufacturing strategy.

The purpose of this paper is to investigate, from a thorough review of the literature, the role of metaverse-based quality 4.0 (MV-based Q4.0) in achieving manufacturing resilience (MFGRES). Based on a categorization of MV-based Q4.0 enabler technologies and MFGRES antecedents, the paper provides a conceptual framework depicting the relationship between both areas while exploring existing knowledge in current literature.

The paper is structured as a comprehensive systematic literature review (SLR) at the intersection of MV-based Q4.0 and MFGRES fields. From the Scopus database up to 2023, a final sample of 182 papers is selected based on the inclusion/exclusion criteria that shape the knowledge base of the research.

In light of the classification of reviewed papers, the findings show that artificial intelligence is especially well-suited to enhancing MFGRES. Transparency and flexibility are the resilience enablers that gain most from the implementation of MV-based Q4.0. Through analysis and synthesis of the literature, the study reveals the lack of an integrated approach combining both MV-based Q4.0 and MFGRES. This is particularly clear during disruptions.

This study has a significant impact on managers and businesses. It also advances knowledge of the importance of MV-based Q4.0 in achieving MFGRES and gaining its full rewards.

This paper makes significant recommendations for academics, particularly those who are interested in the metaverse concept within MFGRES. The study also helps managers by illuminating a key area to concentrate on for the improvement of MFGRES within their organizations. In light of this, future research directions are suggested.

The integration of Total Productive Maintenance (TPM) and Industry 4.0 (I4.0) is an emerging model, and the global pressure of various stakeholders raises scepticism of any emerging model towards providing sustainability. Therefore, this research aims to identify and rank the potential significant drivers of an integrated model of I4.0 and TPM to guide manufacturing enterprises towards sustainability.

This research follows a four-phase methodology including literature review and expert opinion to select the sustainability indicators and I4.0-integrated TPM key drivers, followed by employing the analytic hierarchy process approach for weight determination of sustainability indicators. The research then deploys the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) to prioritise the I4.0-integrated TPM key drivers based on their effect on various sustainability indicators. Finally, a sensitivity analysis is conducted to check the robustness of the TOPSIS.

The findings establish the top five most influential key drivers of an I4.0-integrated TPM system, which include top management support, formal I4.0 adoption program, mid-management involvement and support, solid TPM baseline knowledge and high engagement of the production team. These top drives can lead manufacturing firms towards sustainability.

The digitalisation of shop floor practices, such as TPM, could be adapted by shop floor managers and policymakers of manufacturing companies to deliver sustainability-oriented outcomes. In addition, this research may aid decision-makers in the manufacturing sector in identifying the most important drivers of I4.0 and TPM, which will assist them in more effectively implementing an integrated system of I4.0 and TPM to practice sustainability. The scope of TPM applicability is wide, and the current research is limited to manufacturing companies. Therefore, there is a huge scope for developing and testing the integrated system of I4.0 and TPM in other industrial settings, such as the textile, food and aerospace industries.

This research makes a first-of-its-kind effort to examine how an I4.0-integrated TPM model affects manufacturing companies' sustainability and how such effects might be maximised.

This study examines the performance effect of working capital for a large sample of Indian manufacturing firms in light of supply chain disruption, i.e. the COVID-19 pandemic.

This study is based on secondary data collected from the Prowess database on Indian manufacturing firms listed on the Bombay Stock Exchange (BSE) 500. Panel data regression analyses are used to estimate all models. Moreover, this study has employed robust standard errors to consider for heteroscedasticity concerns.

The results challenge the current notion of working capital investment and reveal that higher working capital has a positive and significant impact on firm performance. Further, it highlights that Indian manufacturing firms suffered financially post-COVID-19 as they significantly lack the working capital to run day-to-day operations.

This research contributes to the scant literature by examining the association between working capital financing and firm performance in light of the COVID-19 pandemic, representing typical developing economies like India.