Supply chain sustainability risk management in a digitally VUCA changing world

Ocicka, Barbara; Turek, Jolanta

doi:10.4324/9781003219958-8

Cited by 5 publications

(3 citation statements)

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“…Additionally, the perspective of different interest groups (stakeholders) should be considered in defining the risk related to sustainable development (Van Vliet et al, 2020). In this regard, SR can be defined as the possibility of a deviation from the economic, social or environmental value expected by stakeholders (Ocicka & Turek, 2021). Enterprise Sustainability Risk Management (ESRM) is perceived as an extension of the enterprise risk management (ERM) concept (Abdul Aziz et al, 2016).…”

Section: Sustainability Risk Management In Industry 40mentioning

confidence: 99%

“…SRM in global multi-tier supply chains requires the deployment of the latest solutions, including T4.0. Furthermore, digital transformation may accelerate the development of an integrated, collaborative, and data-driven SCSRM (Ocicka & Turek, 2021). In business terms, Gong and Rebiere (2021, p. 13) noted the revolutionary character of digital transformation (DT), stressing that it refers to "a fundamental change of a whole new form, function or structure with the adoption of digital technologies that create new value".…”

Section: Sustainability Risk Management In Industry 40mentioning

confidence: 99%

“…In fact, the COVID-19 pandemic has accelerated technology investment and digital transformation in many business areas, including sustainability risk management (SRM). It is clear that T4.0, such as additive manufacturing, artificial intelligence, Big Data analytics, blockchain, cloud computing, digital platforms, and the Internet of Things, have the potential to successfully support SRM (Ocicka & Turek, 2021). Digital transformation offers previously unexploited opportunities in risk management and impacts that are still not well recognized, especially in the early stage of T4.0 adoption.…”

Section: Introductionmentioning

confidence: 99%

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The role of Industry 4.0 technologies in driving the financial importance of sustainability risk management

Turek,

Ocicka,

Rogowski

et al. 2023

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Research background: The climate crisis is one of the greatest challenges the world is facing in the 21st century. The global response to this problem must comprise transitions in land and ecosystems, energy, urban, infrastructure, and industrial systems and a transformation in enterprise and risk management. With the global pressure to fight climate change and achieve the Sustainable Development Goals, the innovative potential of Industry 4.0 technologies (blockchain, Big Data analytics, the Internet of Things, cloud computing, artificial intelligence, 3D additive manufacturing and technology platforms) has been subject to enormous interest among researchers and practitioners. Additionally, the COVID-19 pandemic has accelerated technology investment and digital transformation in many business areas, potentially including sustainability risk management. Purpose of the article: The purpose of this paper is to explore the scope of Industry 4.0 technology implementation in sustainability risk management and its financial impact. Methods: Based on the survey research, the authors verified if enterprises implementing Industry 4.0 technologies during the last five years are benefiting from their investment depending on the number of technologies. Due to the ordinal measurement scale of the analyzed variables, the verification of hypotheses was carried out using the Mann-Whitney U test. Findings & value added: In the opinion of the managers surveyed, the number of Industry 4.0 technologies implemented in the sustainability risk management process does not affect the enterprise’s aggregate Financial Performance Indicator, individual financial indicators (ROA, ROE, OPM, NPM and FLR) and the enterprise’s ability to manage financial risk. This study contributes to the literature on the technological transformation of the sustainability risk management process and its financial importance. The design and implementation of sustainable development strategies imply a long-term perspective, including the achievement of risk management effects in this area. The implementation of one technology, let alone two or more, is a difficult and time-consuming management challenge before synergy effects are achieved in an integrated technological eco-system.

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Section: Sustainability Risk Management In Industry 40mentioning

confidence: 99%

Section: Sustainability Risk Management In Industry 40mentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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