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Study Of Supply Chain Management and Buyer Supplier Relationship and Industry 4.0 Implementation in the Supply Chain


Dr Deepak Bhimrao Magar , MSPMS Deogiri Institute of Engineering and Management Studies Chh Sambhajinagar Aurangabad; Dr D M Khandare, Swami Ramanand Teerth Marathwada University Nanded; Dr Ramkisan S Pawar, TSSMS PVPIT Bavdhan Pune; Dr Munjadas S Kadam, MGM University Chh Sambhajinagar Aurangabad; Mr Nilesh V Sawadekar, MSPMS Deogiri Institute of Engineering and Management Studies Chh Sambhajinagar Aurangabad


Supply Chain Management, Industry 4.0, Buyer-Supplier Relationship


Supply chain performance represents a swiftly evolving area of research. Many companies are actively seeking tools to enhance performance metrics, particularly in response to the volatile nature of business markets and the need for efficient control of business operations. The prevailing perspective on competitiveness and strategy emphasizes that customer value is created through collaborative efforts among firms with shared objectives, rather than through isolated endeavors. Consequently, there is a growing realization that firms engaging in cooperative, long-term partnerships can enhance the overall operation of the supply chain, benefiting all parties involved. Our findings indicate positive correlations between a) trust and financial performance, and b) supplier involvement and financial performance. However, the relationship between face-to-face site visits and financial performance did not yield significant results. Notably, Industry 4.0 has a discernible impact on Social Capital within Buyer-Supplier Relationships. We have conducted a systematic literature review analyzing 36 academic articles to explore the strategic shifts that Industry 4.0 entails for Social Capital within these relationships. These transformations encompass cognitive, structural, and relational aspects, such as shared vision, social interaction, and trust. This underscores the importance of Social Capital within Buyer-Supplier Relationships and highlights its cultivation, particularly in areas like collaborative decision-making, information sharing, and cross-company integration in Industry 4.0 contexts. Our proposition posits that Industry 4.0 implementation not only necessitates but also fosters Social Capital within Buyer-Supplier Relationships, delineating the coexistence of two diametrically opposed fundamental forms of such relationships within an Industry 4.0 context. This systematic literature review is the first of its kind, offering a comprehensive analysis of the existing body of literature on Buyer-Supplier Relationships in the context of Industry 4.0, shedding light on intricate transformations within the purview of Social Capital. Additionally, it provides a comprehensive overview of the current research landscape and offers several recommendations for future research and managerial practices, notably concerning the involvement of human expertise in strategic tasks within Industry 4.0.

Other Details

Paper ID: IJSRDV11I70026
Published in: Volume : 11, Issue : 7
Publication Date: 01/10/2023
Page(s): 7-10

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