Industry 4.0 as an Enabler of Circular Business Models: Within the clothing industry
(2021) IBUH19 20211Department of Business Administration
- Abstract
- This study investigates the role of Industry 4.0 as an enabler of circular business models within the clothing industry. The research was conducted based on a thorough investigation of the clothing industry through both an ethnographic content analysis and two interviews. Both the concepts of circular business models and Industry 4.0 are relatively new and more importantly, Industry 4.0 is a concept that is not fully developed as it is still underway. The research was, therefore, meaningful in order to contribute to a more complete understanding of what the current status of development is and where there is yet unrealized potential. The findings suggest that clothing companies are aware of the role of Industry 4.0 technologies as enablers... (More)
- This study investigates the role of Industry 4.0 as an enabler of circular business models within the clothing industry. The research was conducted based on a thorough investigation of the clothing industry through both an ethnographic content analysis and two interviews. Both the concepts of circular business models and Industry 4.0 are relatively new and more importantly, Industry 4.0 is a concept that is not fully developed as it is still underway. The research was, therefore, meaningful in order to contribute to a more complete understanding of what the current status of development is and where there is yet unrealized potential. The findings suggest that clothing companies are aware of the role of Industry 4.0 technologies as enablers of the circular economy. However, the implementation of the technologies is not very widespread yet in the industry. Consumer behavior, financial limits and company perception and knowledge of the technologies are important factors currently hindering the implementation. Meanwhile, circular business models are associated with high cost savings as they will imply that the companies no longer need to extract resources. For this reason, the circular business models are also desirable for companies as it will likely be a solution to urgent environmental issues. While many clothing companies are currently developing circular business models and implementing Industry 4.0 technologies, there is still unrealized potential in how the technologies are used to facilitate and define the development of circular business models. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9053638
- author
- Alatalo, Alexandra LU and Ekelund, Elvira LU
- supervisor
- organization
- course
- IBUH19 20211
- year
- 2021
- type
- M2 - Bachelor Degree
- subject
- keywords
- Circular Economy, Circular Business Models, Circularity, Industry 4.0, 4th Industrial Revolution, Artificial Intelligence, Machine Learning, Internet of Things, Additive Manufacturing, ReSOLVE Framework, Product-Service Systems, Cyberphysical Systems, Rs Principles
- language
- English
- id
- 9053638
- date added to LUP
- 2021-06-24 14:56:01
- date last changed
- 2021-06-24 14:56:01
@misc{9053638,
abstract = {{This study investigates the role of Industry 4.0 as an enabler of circular business models within the clothing industry. The research was conducted based on a thorough investigation of the clothing industry through both an ethnographic content analysis and two interviews. Both the concepts of circular business models and Industry 4.0 are relatively new and more importantly, Industry 4.0 is a concept that is not fully developed as it is still underway. The research was, therefore, meaningful in order to contribute to a more complete understanding of what the current status of development is and where there is yet unrealized potential. The findings suggest that clothing companies are aware of the role of Industry 4.0 technologies as enablers of the circular economy. However, the implementation of the technologies is not very widespread yet in the industry. Consumer behavior, financial limits and company perception and knowledge of the technologies are important factors currently hindering the implementation. Meanwhile, circular business models are associated with high cost savings as they will imply that the companies no longer need to extract resources. For this reason, the circular business models are also desirable for companies as it will likely be a solution to urgent environmental issues. While many clothing companies are currently developing circular business models and implementing Industry 4.0 technologies, there is still unrealized potential in how the technologies are used to facilitate and define the development of circular business models.}},
author = {{Alatalo, Alexandra and Ekelund, Elvira}},
language = {{eng}},
note = {{Student Paper}},
title = {{Industry 4.0 as an Enabler of Circular Business Models: Within the clothing industry}},
year = {{2021}},
}