Supply Chain Management on Sustainable Banking Industry 4.0

Abstract

The banking sector, traditionally characterized by financial transactions and services, has witnessed a transformative evolution due to the advent of Industry 4.0 technologies. This paper explores the impact of Industry 4.0 on supply chain management within the banking industry. Industry 4.0, characterized by the integration of the Internet of Things (IoT), artificial intelligence (AI), block chain, and data analytics, is reshaping the banking supply chain landscape. In response to this paradigm shift, banks are redefining their supply chain strategies to enhance efficiency, transparency, and customer-centricity. The researcher tries to build up a conceptual framework that outlines the key components of supply chain management in the context of Industry 4.0 within the banking sector. This framework considers the interplay of technology, data, processes, and stakeholder collaboration. Another phase of this paper is to discuss the various challenges and risks, such as data security and regulatory compliance, loom large in this digital transformation journey. To navigate this landscape, practical recommendations for banks are also discussed here, addressing challenges and maximizing the benefits of Industry 4.0 adoption in supply chain management. In the current era banking sector continues to adapt to Industry 4.0, this paper discusses the future directions and implications of this transformation, charting a path towards green banking which is more efficient, secure, and customer-centric supply chain management. It contributes to the academic and industry knowledge base, offering guidance for policymakers, regulators, and industry professionals, and raising awareness about the vital intersection of sustainable banking, supply chain management, and Industry 4.0.