The Impact of Society 5.0 on Supply Chain Management: Opportunities and Challenges

Gabriela Ioana Enache
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Gabriela Ioana Enache: Bucharest University of Economic Studies, Romania

REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, 2023, vol. 24, issue 2, 280-292

Abstract: With the use of cutting-edge technologies like AI, blockchain, IoT, and robotics, a new vision for society called Society 5.0 promises to merge the digital and physical worlds. By enabling real-time visibility and control over every component of the supply chain, this new paradigm has the ability to completely alter how supply chain management is done. Increased effectiveness, productivity, and sustainability are just a few benefits that come with using Society 5.0 in supply chain management. However, it also presents substantial difficulties such data privacy, cybersecurity, and ethical issues. This study investigates how Society 5.0 influences supply chain management, showing both the advantages and disadvantages of this new paradigm. It also offers advice on how businesses should get ready to benefit from Society 5.0 while minimizing its possible hazards.

Keywords: supply chain management; Society 5.0; blockchain; Artificial Intelligence; Cyber Threats (search for similar items in EconPapers)
JEL-codes: C87 J23 O33 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:rom:rmcimn:v:24:y:2023:i:2:p:280-292

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