A Cross-Sector Comparison of Industry 5.0

Abstract

Industry 4.0 and Industry 5.0 are changing the ways business operations are carried out. The organisations across the sectors have been facing challenges in managing the supply chain and logistics across the UK and the world. Industrial Revolution 4.0 has led to the use of digital technologies to improve the efficiency and effectiveness of supply chain processes, such as demand forecasting, inventory management, transportation routing, and order fulfillment. Industry 5.0 is an attempt to humanise the use of potential new-age digital technologies that can for sustainable supply chain management and logistics in the FMCG and automotive sectors. The chapter also advises operation and strategic managers to follow the latest trends in these technologies and follow some short-, medium-, and long-term strategies to gain a competitive edge in the market.