Economic business partnerships within Industry 4.0: new technologies in management

Abstract

The article deals with the problem of using new technologies in manage-ment for economic business partnerships within Industry 4.0 that involves strategic interaction with business partners as well as evaluating key busi-ness partners and deciding on the strategy for interaction with them. The relationship revealed between the strategic-economic interests of the com-pany and the business partners has laid a foundation for the company profile in terms of vertical strategic interaction within Industry 4.0. This makes it possible to evaluate the business partner support / opportunism, and thus to visualize any risks or opportunities that may be exerted by ex-ternal stakeholders of the company and to assist in raising awareness of significant interaction. The developed algorithm makes it possible to rank suppliers using the ABC and VEN methods and evaluate them based on the reporting matrix. The role of analytical information in supplier relationship management (SRM) under conditions of variable economic factors has been substantiated within Industry 4.0. The results of this study are of cur-rent interest for generating relevant information so as to develop sustaina-ble reporting by company within Industry 4.0. The findings of the study can be used to gain and strengthen a company's competitive advantage, since the effective supplier engagement can ensure the implementation of a procurement management strategy to support both the supply chain and achievement of goals of the entire logistics system of the company.