Industry 5.0 Beyond Technology: An Analysis Through the Lens of Business and Operations Management Literature

Abstract

Background/purpose: In comparison to Industry 4.0 (I4.0), Industry 5.0 (I5.0) shows a more systemic transformation that includes business innovations driving the transition to a sustainable, human-centric, and resilient industry. I5.0 implies on rethinking business models, ecosystems, managerial practices, etc. while moving toward sustainable development. Despite the novelty of I5.0 and the growing interest in the subject, the literature is still scarce. Therefore, this study aims to analyze the state of the art and understand the approaches that constitute the study of I5.0, through the lens of business and operations management. Method: A systematic literature review was performed through the lens of the business and operations management literature. Results: Four major themes were identified: (i) technological application, (ii) Human Resources and workers, (iii) education, and (iv) business and operations management. For each theme, the implications, future avenues and practical considerations are presented. Conclusions: Most I5.0 studies have focused on Human Resources and workers discussing the role of technological applications on operator safety. Despite I5.0 calls for a step forward in sustainable development, studies on it are scarce. Also, the literature is still missing practical contributions and frameworks for how I5.0 could impact on business management.

Research trends in industry 5.0 and its application in the construction industry

“…Documented records of industry 5.0 date to 2017. But was legitimized by the European Union in 2021 (Borchardt et al. , 2022; Madsen and Berg, 2021) to place environmental, social and economic sustainability as a priority for companies and industries in Europe.…”

“…Documented records of industry 5.0 date to 2017. But was legitimized by the European Union in 2021 (Borchardt et al, 2022;Madsen and Berg, 2021) to place environmental, social and economic sustainability as a priority for companies and industries in Europe. In line with the vision of the European Union (Sindhwani et al, 2022), explains that Industry 5.0 seeks to bring sustainability into practice while integrating human values with technology, thereby enhancing the attainment of the sustainable development goals.…”

Learning Factories towards Industry 5.0: Evolutionary or Revolutionary?

“…The first and most important element is a possible need for a comprehensive maturity assessment, strategy and organisational development. One of the main topics and solutions of this type is human-robot collaboration and collaborative workplace (with subtopics of safety, ergonomics, reskilling and upskilling, but also business and operations management) [15]. Even particular applications, like Production Planning and Control (PPC) systems with I5.0 focus may have such a cumulated implications , which impacts the fundaments of the operational model [16].…”

Creating Dynamic Learning Capability in Learning Framework through Strategic Alliance

“…Industry 5.0 focuses on concepts of sustainability, bioeconomy, and a collaborative environment of technology and human beings that can create a resilient industry and incorporate human social values (Frederico, 2021;Sindhwani et al, 2022). In Industry 5.0 (education and training research themes), universities must incorporate transdisciplinary education, cognitive skills, and social and environmental aspects, supported by digital technologies (Borchardt et al, 2022). Universities must therefore also have multi-education supported by digital technologies to support lifelong learning for employees.…”