Assessment of barriers to IoT-enabled circular economy using an extended decision- making-based FMEA model under uncertain environment

Abstract

The Circular Economy (CE) is an industrial system that is repaired or revived with intent and design. The concept of reuse in the CE has also significantly increased the operational capabilities and intricacy of the network. In the same way, The IoT is an emerging technology designed to control challenges of the concept of circular economy. This article aims to identify and rank barriers to IoT-enabled CE in the concept of Industry 4.0. In this research, new integrated approach based on Step-wise Weight Assessment Ratio Analysis (SWARA) and Multi-Objective Optimization on the basis of the Ratio Analysis (MOORA) in the field of Pythagorean fuzzy sets (PFS) has been produced to cover some disadvantages of Failure Mode and Effects Analysis (FMEA) method include lack of complete prioritization and inability to decide the different significance of risk factors in an uncertain environment. In the proposed method, the first Risk Priority Number (RPN) is ascertained by the FMEA team. Then risk factors are weighed using the SWARA method and barriers are prioritized using the MOORA method in PFS. The computational approach of the suggested method is also implemented through a case study of the problem of ranking barriers to IoT-enabled CE, which certifies the efficiency and validity of the presented method. In addition, this sensitivity analysis study was carried out to exhibit permanence of the proposed method and to make a comparison for the efficacy analysis of achieved results and the results show that produced method is compared with other developed methods, it is more efficient and usable in the field of PFS.