Abstract

The present research is intended to investigate the concept of lean thinking in managing of supply chains with a specific focus on technical theoretical models and frameworks based on Industry 4.0 technologies. To create value, it is important in identification of steps required to value, mapping of the value stream and creation of rapid sequence steps for value creation as well as elimination of excessive material handling steps and reduce inefficiencies. This research adopts a methodological framework based on a hybrid model consisting of two proposed and existing conceptual models on the topic of research and performs a comparative analysis of the findings of the chosen models. According to the findings, the adoption of lean thinking practices in supply chains can be crucial in addressing existing constraints and challenges such as lack of strategic vision, lack of competent personnel and lack of understanding of the Industry 4.0 technologies, which pose significant challenge for the supply chains system. Essentially, the lean practices can be considered as standard indicators of weaknesses in supply chain operations.

Keywords: Industry 4.0, Simulation-Based Optimization, Lean Thinking, Supply Chains Sequence, Data Mining.