Modelling of an Economic Process Using Smart Technologies in Manufacturing in the Context of Industry 4.0: A Case Study

Andreea Gabriela Tanase, Alexandru Florin Preda, Raluca Florentina Cretu and Viorel Costin Banta
Additional contact information
Andreea Gabriela Tanase: Bucharest University of Economic Studies, Bucharest, Romania
Alexandru Florin Preda: Bucharest University of Economic Studies, Bucharest, Romania
Raluca Florentina Cretu: Bucharest University of Economic Studies, Bucharest, Romania
Viorel Costin Banta: Bucharest University of Economic Studies, Bucharest, Romania

Oblik i finansi, 2024, issue 4, 169-176

Abstract: ERP-type systems emerged with companies needing to manage complex economic processes, such as supply chain management or sales e-commerce. This article benchmarks step by step how an existing business process in a complex information system such as ERP can be modelled, adapted, and implemented using emerging intelligent technologies. Based on a practical case for a factory in Romania producing subassemblies for the automotive industry, the authors seek to answer three questions: 1) What impact does integrating smart technologies have on the business environment to be competitive in an increasingly technological world? 2) Can the definition of relevant KPIs necessary to highlight the effectiveness of adopting and adapting smart technologies in day-to-day business be a factor in measuring the effectiveness of integrating emerging technologies? 3) Does reshaping business processes by integrating emerging technologies have a positive effect on the business environment? In this practical case, the research method used to remodel the economic processes was the interventionist method. Special attention was paid to how employees, the company's main resource, adapted to the changes that came with integrating these smart technologies into their way of working and how they perceived solving problems using smart technologies. The findings and results of this scientific paper support the positive correlation between the successful implementation of intelligent solutions and the contribution of employees putting them into practice. Thus, adopting and adapting intelligent solutions leads to better positioning the business in a world of constant competition. This paper provides a perspective on how companies need to rethink how they do business and apply policies that make technologies work to help business run smoothly in a changing world and an increasingly pragmatic and unpredictable business environment.

Keywords: RPA – robotic process automation; smart technologies; management; ERP; Industry 4.0; economic process; accounting (search for similar items in EconPapers)
JEL-codes: D24 L86 M10 M15 M41 O33 Z11 (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.afj.org.ua/pdf/1138-modelyuvannya-ekonomichnogo-procesu.pdf (application/pdf)
http://www.afj.org.ua/en/article/1138/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:iaf:journl:y:2024:i:4:p:169-176

DOI: 10.33146/2307-9878-2024-4(106)-169-176

Access Statistics for this article

Oblik i finansi is currently edited by Valeriy Zhuk

More articles in Oblik i finansi from Institute of Accounting and Finance Contact information at EDIRC.
Bibliographic data for series maintained by Serhiy Ostapchuk ().