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Book part
Publication date: 13 December 2023

Leena Wanganoo and Rajesh Tripathi

Climate change and digitisation are unquestionably the two defining features of this era. Both present immense challenges with unimaginable consequences for humankind while…

Abstract

Climate change and digitisation are unquestionably the two defining features of this era. Both present immense challenges with unimaginable consequences for humankind while promising enormous rewards for those who can adequately address their adverse effects. These two critical factors must be considered while establishing strategies for the businesses' future operations. Hence, post-pandemic, especially with the rise of online commerce, packages and documents are delivered around the globe nearly every day, propelling the logistics industry's growth. This is not the critical challenge in logistics, the issue of sustainability, particularly as the returns are increasing exponentially, leading to a significant impact on transportation is and its reliance on fossil fuel has made it a prime target for society's growing environmental concerns. Thus, real-time visibility, collaboration and integration in reverse logistics (RL) are imperative for business sustainability. The most applicable Industry 4.0 technologies in RL are the Internet of Things (IoT), cloud computing, blockchain and digital twin that enable the defragmentation of the RL market.

This chapter analyses the technological impact of Industry 4.0 on RL. This research investigates the challenges faced by the logistics industry in the context of sustainability and how digital transformation can bring many potential benefits across the entire value chain. This chapter also presents a guidance for a framework based on the literature review that tends to favour the development of elastic logistics, implying improved company responsiveness to market conditions. The study contributes to the body of literature and the establishment of the framework for planning on the application of various Industry 4.0 technologies in developing eco-friendly and sustainable reverse logistics framework.

Details

Fostering Sustainable Development in the Age of Technologies
Type: Book
ISBN: 978-1-83753-060-1

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Advances in Librarianship
Type: Book
ISBN: 978-0-12024-618-2

Book part
Publication date: 26 October 2017

Ronald K. Klimberg, Samuel Ratick and Harvey Smith

Multiple linear regression (MLR) is a commonly used statistical technique to predict future values. In this paper, we examine the situation in which a given time series dataset…

Abstract

Multiple linear regression (MLR) is a commonly used statistical technique to predict future values. In this paper, we examine the situation in which a given time series dataset contains numerous observations of important predictor variables that can effectively be classified into groups based on their values. In such situations, cluster analysis is often employed to improve the MLR models predictive accuracy, usually by creating separate regressions for each cluster. We introduce a novel approach in which we use the clusters and cluster centroids as input data for the predictor variables to improve the predictive accuracy of the MLR model. We illustrate and test this approach with a real dataset on fleet maintenance.

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Advances in Business and Management Forecasting
Type: Book
ISBN: 978-1-78743-069-3

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Book part
Publication date: 4 December 2020

Gauri Rajendra Virkar and Supriya Sunil Shinde

Predictive analytics is the science of decision-making that eliminates guesswork out of the decision-making process and applies proven scientific procedures to find right…

Abstract

Predictive analytics is the science of decision-making that eliminates guesswork out of the decision-making process and applies proven scientific procedures to find right solutions. Predictive analytics provides ideas on the occurrences of future downtimes and rejections thereby aids in taking preventive actions before abnormalities occur. Considering these advantages, predictive analytics is adopted in various diverse fields such as health care, finance, education, marketing, automotive, etc. Predictive analytics tools can be used to predict various behaviors and patterns, thereby saving the time and money of its users. Many open-source predictive analysis tools namely R, scikit-learn, Konstanz Information Miner (KNIME), Orange, RapidMiner, Waikato Environment for Knowledge Analysis (WEKA), etc. are freely available for the users. This chapter aims to reveal the best accurate tools and techniques for the classification task that aid in decision-making. Our experimental results show that no specific tool provides the best results in all scenarios; rather it depends upon the datasets and the classifier.

Abstract

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Digital Transformation Management for Agile Organizations: A Compass to Sail the Digital World
Type: Book
ISBN: 978-1-80043-171-3

Book part
Publication date: 16 January 2024

Ayodeji E. Oke and Seyi S. Stephen

This chapter discussed the implementation of the digital twin (DT) idea into construction. Through the adoption of DTs into construction practices, construction professionals have…

Abstract

This chapter discussed the implementation of the digital twin (DT) idea into construction. Through the adoption of DTs into construction practices, construction professionals have been able to project an identical virtual concept of sections of the project execution right from the onset. In the introduction and discussing of its origin, the DT was further assessed about its applications in construction beneficial in enhancing project delivery. Other sections like barriers, drivers and benefits of the DT in construction summarised what this chapter represents in terms of discussing the new involvement of digital tools in construction execution, management and sustainability.

Details

A Digital Path to Sustainable Infrastructure Management
Type: Book
ISBN: 978-1-83797-703-1

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Book part
Publication date: 7 September 2012

Josip Obradović and Mira Čudina

Purpose – This chapter presents research on determinants of economic hardship and the effect of economic hardship on marital quality in two social contexts in Croatia: postwar…

Abstract

Purpose – This chapter presents research on determinants of economic hardship and the effect of economic hardship on marital quality in two social contexts in Croatia: postwar recovery period (Study 1) and economic recession starting in 2009 to present (Study 2).

Methodology/approach – In Study 1 the sample consisted of 505 married couples (quota sample of Zagreb and neighboring villages). In Study 2 the sample consisted of 850 married couples (quota sample of Zagreb and 14 regions in Croatia). We have used the SPSS 18 Mixed Linear Model approach for data analysis. A number of variables representing individual characteristics of marital partners were entered as level 1. A number of variables representing marital dyad (duration of marriage, size of the family) were entered as level 2.

Findings – The variables of education, employment status, and size of the family turned out to be most predictive for economic hardship in both studies. Also, in both studies economic hardship turned out to be a very important predictor of marital quality.

Research limitations – The limitations of the studies are the absence of longitudinal approach and a probability sample.

Social implications – The studies carry important social implications showing that in the absence of government or community social support, partners’ social support could moderate negative effect of economic hardship on marital quality. We assume that this conclusion could be generalized to other social contexts as well.

Originality/value of chapter – The strength and originality of the studies was in multilevel approach in data analysis and treating marital partners as a dyad.

Book part
Publication date: 30 March 2022

Marina S. Reshetnikova and Irina A. Pugacheva

The purpose of the chapter is to focus on the global industrial robotics market and trends of its development. In the framework of this chapter, the authors made the forecast of…

Abstract

The purpose of the chapter is to focus on the global industrial robotics market and trends of its development. In the framework of this chapter, the authors made the forecast of industrial robots' market future values in this chapter with the linear regression method and an econometric model. This analysis has provided a conclusive answer to the question about the prospects of the industrial robotics market and the leading countries. The completed forecast showed that the global robotics market will continue to grow, thanks to the wider adoption of industrial robots, which will be used in new industries, the development of contactless user interfaces, which, among other things, will be implemented in the automotive applications, the focus on predictive maintenance and remote monitoring of equipment, as well as the transition of a large number of enterprises to digital management and full automation of existing equipment to improve the quality and productivity of processes. The authors show that in 2020 the global robotics market volume decreased due to the COVID-19 pandemic and major shift in production value chains, but in 2021 the indicator will grow again, but not so rapidly, at a more moderate pace. By 2025, the global industrial robotics market may exceed $61.4 billion, with a growth rate of 8.5%.

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Current Problems of the World Economy and International Trade
Type: Book
ISBN: 978-1-80262-090-0

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Book part
Publication date: 4 December 2023

Mohammad Shamsu Uddin, Mehadi Hassan Tanvir, Md. Yasir Arafat and Jakia Sultana Jane

Industry 5.0 is referred to the subsequent industrialization. The ultimate goal of this transformation is to enable manufacturing solutions through collaboration with man and…

Abstract

Industry 5.0 is referred to the subsequent industrialization. The ultimate goal of this transformation is to enable manufacturing solutions through collaboration with man and machine which are more user-friendly and increase work quality in comparison to Industry 4.0. This will be accomplished through the consumption of the creative potential of human specialists in the creation of an industry with more efficient, clever, and precise machines. It is predicted that several exciting breakthroughs and apps will help Industry 5.0 in its plan to gain more productivity and supply personalized goods in an open system. On the other hand, Industry 5.0 has had a greater global and international renown from the very beginning of its existence. Machine learning (ML) technology, the Internet of Things (IoT), and big data will create a collaboration with people, robots, and other intelligent devices. Industry 5.0 continues to serve as an attractive driver for our society's workforce skills and young talent in search of purposeful professional lives. There are some challenges as well, such as working with advanced robots requires people to develop skills. People need to gain proper knowledge about collaboration with smart machines and the robot manufacturers industry. However, this ultimate overhaul is necessary for the industry to certify its reason as a solution provider for our society. These things will unquestionably ensure the long-term sustained development (SD) of any nation's economy.

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Fostering Sustainable Businesses in Emerging Economies
Type: Book
ISBN: 978-1-80455-640-5

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Technology vs. Government: The Irresistible Force Meets the Immovable Object
Type: Book
ISBN: 978-1-83867-951-4

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