Transformation of the product lifecycle value chain towards industry 5.0

Abstract

The transition from Industry 4.0 to Industry 5.0 has broadened the focus of enterprises, moving beyond their organisational boundaries limits to embrace the interconnected structure within the product lifecycle value chain. Despite this shift, there remains a significant gap in research on the framework for transforming the product lifecycle value chain from Industry 4.0 to Industry 5.0. Thus, building upon the achievements of Industry 4.0, the proposed value chain transformation frameworks are proposed, which can improve sustainability and resilience while considering human needs. The frameworks offer enterprises a comprehensive understanding of the structure and strategic approach required for the Industry 5.0 product lifecycle value chain transformation. Finally, the authors summarise six research challenges and opportunities and eleven research questions to advance the transformation of the Industry 5.0 product lifecycle value chain.