Holistic Approach to Value Chain Creation: From Human Resources Management Towards Customer Satisfaction

Nenad Medic, Milan Delic, Dragana Slavic, Jelena Culibrk and Nemanja Tasic ()
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Nenad Medic: Faculty of Technical Sciences, University of Novi Sad, 21000 Novi Sad, Serbia
Milan Delic: Faculty of Technical Sciences, University of Novi Sad, 21000 Novi Sad, Serbia
Dragana Slavic: Faculty of Technical Sciences, University of Novi Sad, 21000 Novi Sad, Serbia
Jelena Culibrk: Faculty of Technical Sciences, University of Novi Sad, 21000 Novi Sad, Serbia
Nemanja Tasic: Faculty of Technical Sciences, University of Novi Sad, 21000 Novi Sad, Serbia

Sustainability, 2025, vol. 17, issue 12, 1-16

Abstract: Value chains are facing different challenges, caused by emerging technologies as well as Industry 4.0 and Industry 5.0 principles. In order to successfully deliver valuable products to their customers, firms have to adapt, transform, and continuously improve their operational processes. Digital technologies will enable digital supply chains which will be decentralized and composed of autonomous modules. Although the elements of the value chain are independent, this paper shows how they affect each other’s performance. In this study, a model which shows how human resources management impacts customers’ satisfaction is presented. Additionally, this model reveals direct and indirect relations between human resources management, processes, supply chain actors, and customers. The conducted study was based on the variance-based method, while the model was constructed using the “PLSPM” package in R software. Additionally, the confirmatory factor analysis was applied for assessing the construct constitution. Taking into account that “A chain is only as strong as its weakest link”, firms can use these findings to seek for performance indicators and problem causes across the whole value chain and not only in one of its elements.

Keywords: Industry 5.0; continuous improvement; manufacturing; supply chain (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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