The Financial Strategy for the Development Of Industry 4.0 in the Countries with Developing Economy
DOI:
https://doi.org/10.59219/jheds.04.01.54Keywords:
Financial Strategy, Industry 4.0, Financial and Economic Development, Digital Technology, Empirical StudiesAbstract
Industry 4.0 incorporates cutting-edge digital technology into the supply chain and manufacturing operations to build a more intelligent, networked system. 4.0, which uses digital technology to automate and simplify processes, is the financial strategy for creating and digitizing the supply chain. Issues confronting the supply chain sector may have an answer thanks to financial and economic development strategy technology. It is a safe, decentralized digital ledger that can transparently and impenetrably record data and transactions. With the use of this technology, a common supply chain information database that is available to everyone engaged in the financial plan for the nation's development can be established. A few advantages of implementing financial and economic development strategy technology in the supply chain sector for financial and economic development strategy are increased traceability and transparency, decreased fraud and counterfeiting risk, faster and more secure payment processing, and enhanced cooperation amongst supply chain participants. Studies on applying financial and economic development strategy technology in supply chains are still scarce. Work presents a thorough step-by-step model based on institutional and resource-based innovation diffusion theory to fill this research vacuum. The model is validated with data from Pakistan and the United Arab Emirates, revealing significant differences between the variables driving both countries' innovation and adoption stages of financial and economic development strategies. The study provides insightful information on how financial and economic development strategies are employed in developing countries' financial strategies.
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