IMPACT OF INDUSTRY 4.0 TECHNOLOGIES ON BUSINESS PERFORMANCE IN THE PHARMACEUTICAL SECTOR OF PAKISTAN

Abstract

This study examines the impact of industry 4.0 technologies, including Big Data, Cyber-physical systems (CPS), Internet of Things (IoT), and Interoperability on business performance (BP). Primary quantitative data were collected via a structured questionnaire from pharmaceutical firms in Islamabad, Karachi, and Peshawar to assess the adoption and utilization of these technologies on BP. In order to analyze the collected data, Smart PLS was used to examine the relationships between industry 4.0 technologies and BP measures.
Based on the analysis, these technologies significantly influence various aspects of business performance, including innovation, productivity and profitability, except BDA has an insignificant impact on profitability and productivity. In addition, the IOT has no impact on innovation, productivity and profitability. This study provides a significant insight for the pharmaceutical sector concerning the industry 4.0 technologies to enhance BP. The findings of this study can be used by the industry stakeholders and pharmaceutical firms to integrate the industry 4.0 technologies in various functions of human resource management, process optimization and strategic planning to maximize the benefits. In an increasingly digitalized landscape, industry 4.0 technologies adoption can help organizations position themselves in the market for sustained growth and resilience.