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Sustainable performance in SMEs using big data analytics for closed-loop supply chains and reverse omnichannel
Syed Abdul Rehman Khan1, Muhammad Sohail Tahir2, Adnan Ahmed Sheikh3,4
1School of Management and Engineering, Xuzhou University of Technology, Xuzhou, China.
Heliyon
|September 12, 2024
Summary
Big data analytics (BDA) enhances circular economy (CE) dual systems, improving small and medium-sized enterprises
Area of Science:
- Business and Management
- Environmental Science
- Information Science
Background:
- Circular economy (CE) dual systems, including closed-loop supply chains (CLSC) and reverse omnichannel (ROC), are crucial for sustainable firm performance (SFP) in small and medium-based enterprises (SMEs).
- Product return knowledge (PRK) plays a vital role in reinforcing these systems and facilitating active returns within CE.
- Existing research has not fully explored the synergistic effects of big data analytics (BDA) on these dual CE systems and their impact on SMEs.
Purpose of the Study:
- To examine the advantages of utilizing big data analytics (BDA) on CE dual systems (CLSC and ROC) for enhancing SFP in SMEs.
- To investigate how PRK strengthens the network of relationships and facilitates active returns in CE.
- To determine if BDA improves product return processes, CLSC operations, and ROC service capabilities.
Main Methods:
- Structural Equation Model (SEM) analysis using AMOS v24.
- Data collected from a simple random sample of 232 SMEs in Pakistan.
- Hypothesis testing to validate the proposed framework on the interplay between BDA, CE dual systems, PRK, and SFP.
Main Results:
- Big data analytics (BDA) significantly enhances the efficiency of the circular economy (CE) system.
- Closed-loop supply chains (CLSC) are strengthened by the development of product return knowledge (PRK), which improves network performance.
- Reverse omnichannel (ROC) offers limited performance benefits unless supported by BDA, while PRK is essential for achieving firm performance objectives.
Conclusions:
- Firms must strategically choose between CLSC (requiring operational capabilities) and ROC (requiring service capabilities).
- BDA is a key enabler for optimizing CE dual systems and improving SFP.
- PRK is indispensable for enhancing a firm's capability to sense, seize, and reconfigure processes, facilitating active returns in CE.
