The MCDM-based Assessment of Solutions for Transition to Sustainable Industry 4.0: The Case of Serbia

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dc.citation.epage16
dc.citation.issue2
dc.citation.rankM51
dc.citation.spage1
dc.citation.volume57
dc.contributor.authorPopović, Gabrijela
dc.contributor.authorFedajev, Aleksandra
dc.contributor.authorStanujkić, Dragiša
dc.date.accessioned2025-01-15T09:29:02Z
dc.date.available2025-01-15T09:29:02Z
dc.date.issued2024
dc.description.abstractIndustry 4.0 implies the transformation of organizations into digital entities. It represents a new level of industrial development that has changed demands, competition, industry structure, and sustainability awareness. The primary objective of this paper is to use Multiple-Criteria Decision Making (MCDM) to identify the principal obstacles and solutions for successfully adopting the technologies that will facilitate a transition of the Serbian industry to sustainable Industry 4.0. The barriers' significance was defined using the Preference Selection Index – PSI. The assessment of the solutions was performed by three decision-makers using the following MCDM methods: PSI, Compromise Ranking of Alternatives from Distance to Ideal Solution – CRADIS, and Integrated Simple Weighted Sum-Product Method—WISP. The results revealed that logistics, reverse logistics management, and technology integration are the most significant barriers. The significance of logistics and warehousing management lies in their role as crucial facilitators for the sustainable development of industries, ensuring efficient and responsible movement, storage, and distribution of goods. Also, the application and development of new technologies can improve efficiency and reduce the environmental impact of the Serbian industry. Based on the MCDM methods, the framework enabled the assessment of the barriers and solutions for technology adoption in light of the current business conditions in the Republic of Serbia. Managers and policymakers can easily perceive the main obstacles and optimal actions needed to fulfill the requirements of Industry 4.0 and promote sustainable operations.
dc.identifier.doi10.28934/ea.24.57.2.pp1-16
dc.identifier.issn1821-2573
dc.identifier.issn2560-3949
dc.identifier.urihttps://repozitorijum.tfbor.bg.ac.rs/handle/123456789/5953
dc.language.isoen
dc.publisherInstitut ekonomskih nauka, Beograd
dc.rights.licenseCC-BY
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/
dc.sourceEconomic Analysis
dc.subjectSustainable Industry 4.0
dc.subjectPSI
dc.subjectWISP
dc.subjectCRADIS
dc.subjecttechnologies
dc.titleThe MCDM-based Assessment of Solutions for Transition to Sustainable Industry 4.0: The Case of Serbia
dc.typearticle
dc.type.versionpublishedVersion

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