Exploring Internet of Things adoption challenges in manufacturing firms: A Delphi Fuzzy Analytical Hierarchy Process approach

Hasan Shahriar, Md Saiful Islam, Md Abrar Jahin, Istiyaque Ahmed Ridoy, Raihan Rafi Prottoy, Adiba Abid and M F Mridha

PLOS ONE, 2024, vol. 19, issue 11, 1-23

Abstract: Innovation is key to gaining a sustainable edge in an increasingly competitive global manufacturing landscape. For Bangladesh’s manufacturing sector to survive and thrive in today’s cutthroat business environment, adopting transformative technologies such as the Internet of Things (IoT) is not a luxury but a necessity. This article tackles the formidable task of identifying and comprehensively evaluating the impediments to IoT adoption in the Bangladeshi manufacturing industry. We delve deeply into the complex terrain of IoT adoption challenges by synthesizing expert insights and a meticulously selected body of contemporary literature. We employ a robust methodology combining the Delphi method with the fuzzy Analytical Hierarchy Process to systematically analyze and prioritize these challenges. Using this methodology, we leveraged the combined expertise of domain specialists and subsequently employed fuzzy logic techniques to address the inherent ambiguities and uncertainties within the data. Our findings highlight this clear path. They reveal that among the myriad barriers, “Lack of top management commitment to implementing new technology” (B10), “High initial implementation investment costs” (B9), and “Risks associated with switching to a new business model” (B7) loom most extensive, demanding immediate attention. These insights are not confined to academia but serve as a pragmatic guide for industrial managers. Armed with the knowledge gleaned from this study, managers can craft tailored strategies, set well-informed priorities, and embark on a transformational journey toward harnessing the vast potential of IoT in the Bangladeshi industrial sector. This article provides a comprehensive understanding of IoT adoption challenges and industry leaders with the tools necessary to navigate these challenges effectively. This strategic navigation, in turn, contributes significantly to enhancing the competitiveness and sustainability of Bangladeshi manufacturing in the IoT era.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:plo:pone00:0311643

DOI: 10.1371/journal.pone.0311643

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