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Digital innovation and Industry 4.0 for global value chain resilience: Lessons learned and ways forward
Author(s) -
Dilyard John,
Zhao Shasha,
You Jacqueline Jing
Publication year - 2021
Publication title -
thunderbird international business review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.553
H-Index - 37
eISSN - 1520-6874
pISSN - 1096-4762
DOI - 10.1002/tie.22229
Subject(s) - multinational corporation , resilience (materials science) , business , software deployment , value (mathematics) , global value chain , industrial organization , perspective (graphical) , industry 4.0 , covid-19 , international trade , computer science , physics , finance , machine learning , artificial intelligence , embedded system , thermodynamics , comparative advantage , operating system , medicine , disease , pathology , infectious disease (medical specialty)
This perspective article highlights some major implications of the recent pandemic (Covid‐19) on global value chains (GVCs) and how the pandemic can accelerate the adoption of digital and Industry 4.0 technologies in GVCs, with attention paid to multinational enterprises and small‐medium enterprises. Particularly, it discusses the potential value of digital technologies in enhancing GVC resilience for better mitigation of disruptions caused by future global shocks. It also proposes useful avenues for future policy considerations to support and direct deployment of digital technologies across key stakeholders in GVCs.