IDEAS home Printed from https://ideas.repec.org/a/eee/proeco/v240y2021ics0925527321002206.html
   My bibliography  Save this article

Smart product service system hierarchical model in banking industry under uncertainties

Author

Listed:
  • Tseng, Ming-Lang
  • Bui, Tat-Dat
  • Lan, Shulin
  • Lim, Ming K.
  • Mashud, Abu Hashan Md

Abstract

This study adopts the diffusion of innovation theory as to develop the smart product service system model in banking industry due to prior studies are lacking in identifying the attributes. The smart product service system functions are bearing high uncertainty and system complexity; hence, the hybrid method of fuzzy Delphi method and fuzzy decision-making trial and evaluation laboratory to construct a valid hierarchical model and identified the causal interrelationships among the attributes. The smart product service system hierarchical model with eight aspects and 41 criteria are proposed enriching the existing literature and that identify appropriate strategies to achieve operational performance. The results show that seven aspects and 22 criteria are determined as the valid hierarchical model. The institutional compression, digital platform operation, and e-knowledge management are the causing aspects helps to form smart product service system operational performance in high uncertainty. For practices, the banking decision-makers should develop innovative actions relied on the forcible compression, cyber-physical systems, industrial big data, cloud service allocation and sharing, and transparency improvement as they are most importance criteria playing a decisive role in a successful SPSS. This provides guidelines for banking industry practice in Taiwan encouraging the miscellany of digital technology accomplishment for sustainable target.

Suggested Citation

  • Tseng, Ming-Lang & Bui, Tat-Dat & Lan, Shulin & Lim, Ming K. & Mashud, Abu Hashan Md, 2021. "Smart product service system hierarchical model in banking industry under uncertainties," International Journal of Production Economics, Elsevier, vol. 240(C).
    • Handle: RePEc:eee:proeco:v:240:y:2021:i:c:s0925527321002206
    DOI: 10.1016/j.ijpe.2021.108244
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0925527321002206
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.ijpe.2021.108244?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Qiang Zhang & Xiaonong Lu & Zhanglin Peng & Minglun Ren, 2019. "Perspective: a review of lifecycle management research on complex products in smart-connected environments," International Journal of Production Research, Taylor & Francis Journals, vol. 57(21), pages 6758-6779, November.
    2. Phung, Manh-Trung & Cheng, Cheng-Ping & Guo, Chuanyin & Kao, Chen-Yu, 2020. "Mixed Network DEA with Shared Resources: A Case of Measuring Performance for Banking Industry," Operations Research Perspectives, Elsevier, vol. 7(C).
    3. Min, Hokey, 2019. "Blockchain technology for enhancing supply chain resilience," Business Horizons, Elsevier, vol. 62(1), pages 35-45.
    4. Cenamor, J. & Rönnberg Sjödin, D. & Parida, V., 2017. "Adopting a platform approach in servitization: Leveraging the value of digitalization," International Journal of Production Economics, Elsevier, vol. 192(C), pages 54-65.
    5. Michel Lander & Pursey Heugens, 2009. "Structure! Agency! (And Other Quarrels): Meta-Analyzing Institutional Theories of Organization," Post-Print hal-00623835, HAL.
    6. Yu, Ming-Miin & Lin, Chung-I & Chen, Kuan-Chen & Chen, Li-Hsueh, 2021. "Measuring Taiwanese bank performance: A two-system dynamic network data envelopment analysis approach," Omega, Elsevier, vol. 98(C).
    7. Opricovic, Serafim & Tzeng, Gwo-Hshiung, 2004. "Compromise solution by MCDM methods: A comparative analysis of VIKOR and TOPSIS," European Journal of Operational Research, Elsevier, vol. 156(2), pages 445-455, July.
    8. Frishammar, Johan & Richtnér, Anders & Brattström, Anna & Magnusson, Mats & Björk, Jennie, 2019. "Opportunities and challenges in the new innovation landscape: Implications for innovation auditing and innovation management," European Management Journal, Elsevier, vol. 37(2), pages 151-164.
    9. Esteban Lafuente & Yancy Vaillant & Ferran Vendrell-Herrero, 2019. "Territorial servitization and the manufacturing renaissance in knowledge-based economies," Regional Studies, Taylor & Francis Journals, vol. 53(3), pages 313-319, March.
    10. Ho, Jonathan C. & Wu, Chorng-Guang & Lee, Chung-Shing & Pham, Thanh-Thao T., 2020. "Factors affecting the behavioral intention to adopt mobile banking: An international comparison," Technology in Society, Elsevier, vol. 63(C).
    11. Huang, Tai-Hsin & Hu, Chu-Nan & Chang, Bao-Guang, 2018. "Competition, efficiency, and innovation in Taiwan’s banking industry — An application of copula methods," The Quarterly Review of Economics and Finance, Elsevier, vol. 67(C), pages 362-375.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Tseng, Ming-Lang & Bui, Tat-Dat & Lim, Ming K. & Fujii, Minoru & Mishra, Umakanta, 2022. "Assessing data-driven sustainable supply chain management indicators for the textile industry under industrial disruption and ambidexterity," International Journal of Production Economics, Elsevier, vol. 245(C).
    2. Ya-Ping Hu & Chun-Wei Lin & Eko Hariyadi, 2024. "Achieving Sustainability in Banking through Smart Product-Service Systems: An Integrated Robust Fuzzy DEMATEL," International Journal of Economics and Financial Issues, Econjournals, vol. 14(5), pages 81-91, September.
    3. Gupta, Rohit & Rathore, Bhawana, 2024. "Exploring the generative AI adoption in service industry: A mixed-method analysis," Journal of Retailing and Consumer Services, Elsevier, vol. 81(C).
    4. Yang, Zaoli & Li, Qin & Charles, Vincent & Xu, Bing & Gupta, Shivam, 2023. "Supporting personalized new energy vehicle purchase decision-making: Customer reviews and product recommendation platform," International Journal of Production Economics, Elsevier, vol. 265(C).
    5. Ching-Hsin Wang & Yi-Chun Chen & Jovi Sulistiawan & Tat-Dat Bui & Ming-Lang Tseng, 2021. "Hybrid Approach to Corporate Sustainability Performance in Indonesia’s Cement Industry," Sustainability, MDPI, vol. 13(24), pages 1-21, December.
    6. Svenja Damberg & Yide Liu & Christian M. Ringle, 2024. "Does culture matter? Corporate reputation and sustainable satisfaction in the Chinese and German banking sector," Journal of Marketing Analytics, Palgrave Macmillan, vol. 12(1), pages 6-24, March.
    7. Bag, Surajit & Gupta, Shivam & Chan, Hau-Ling & Kumar, Ajay, 2024. "Building smart product-service systems capabilities for circular supply chains in the Industry 4.0 era," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 188(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Shubhangini Rajput, 2024. "Analysis of Industry 4.0 technological enablers for sustainable supply chain transparency in a fuzzy environment," Business Strategy and the Environment, Wiley Blackwell, vol. 33(8), pages 8616-8636, December.
    2. Kabadurmus, Ozgur & Kayikci, Yaşanur & Demir, Sercan & Koc, Basar, 2023. "A data-driven decision support system with smart packaging in grocery store supply chains during outbreaks," Socio-Economic Planning Sciences, Elsevier, vol. 85(C).
    3. M.V. Leonov, 2021. "Review of Modern Approaches for Assessing the Effectiveness of Banking," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 20(2), pages 294-326.
    4. Yi Peng, 2015. "Regional earthquake vulnerability assessment using a combination of MCDM methods," Annals of Operations Research, Springer, vol. 234(1), pages 95-110, November.
    5. Zheng, Guozhong & Wang, Xiao, 2020. "The comprehensive evaluation of renewable energy system schemes in tourist resorts based on VIKOR method," Energy, Elsevier, vol. 193(C).
    6. Milad Zamanifar & Seyed Mohammad Seyedhoseyni, 2017. "Recovery planning model for roadways network after natural hazards," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 87(2), pages 699-716, June.
    7. Pedro Ponce & Citlaly Pérez & Aminah Robinson Fayek & Arturo Molina, 2022. "Solar Energy Implementation in Manufacturing Industry Using Multi-Criteria Decision-Making Fuzzy TOPSIS and S4 Framework," Energies, MDPI, vol. 15(23), pages 1-19, November.
    8. Wenyao Niu & Yuan Rong & Liying Yu & Lu Huang, 2022. "A Novel Hybrid Group Decision Making Approach Based on EDAS and Regret Theory under a Fermatean Cubic Fuzzy Environment," Mathematics, MDPI, vol. 10(17), pages 1-30, August.
    9. Syed Imran Zaman & Sharfuddin Ahmed Khan & Sahar Qabool & Himanshu Gupta, 2023. "How digitalization in banking improve service supply chain resilience of e-commerce sector? a technological adoption model approach," Operations Management Research, Springer, vol. 16(2), pages 904-930, June.
    10. Wabukala, Benard M. & Bergland, Olvar & Mukisa, Nicholas & Adaramola, Muyiwa S. & Watundu, Susan & Orobia, Laura A. & Rudaheranwa, Nichodemus, 2024. "Electricity security in Uganda: Measurement and policy priorities," Utilities Policy, Elsevier, vol. 91(C).
    11. Hisham Alidrisi, 2021. "An Innovative Job Evaluation Approach Using the VIKOR Algorithm," JRFM, MDPI, vol. 14(6), pages 1-19, June.
    12. Abbas Keramati & Fatemeh Shapouri, 2016. "Multidimensional appraisal of customer relationship management: integrating balanced scorecard and multi criteria decision making approaches," Information Systems and e-Business Management, Springer, vol. 14(2), pages 217-251, May.
    13. Chen, Kuan-Chen & Lin, Sun-Yuan & Yu, Ming-Miin, 2022. "Exploring the efficiency of hospital and pharmacy utilizations in Taiwan: An application of dynamic network data envelopment analysis," Socio-Economic Planning Sciences, Elsevier, vol. 84(C).
    14. Serafim Opricovic, 2009. "A Compromise Solution in Water Resources Planning," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 23(8), pages 1549-1561, June.
    15. María Pilar de la Cruz López & Juan José Cartelle Barros & Alfredo del Caño Gochi & Manuel Lara Coira, 2021. "New Approach for Managing Sustainability in Projects," Sustainability, MDPI, vol. 13(13), pages 1-27, June.
    16. Zheng Yuan & Baohua Wen & Cheng He & Jin Zhou & Zhonghua Zhou & Feng Xu, 2022. "Application of Multi-Criteria Decision-Making Analysis to Rural Spatial Sustainability Evaluation: A Systematic Review," IJERPH, MDPI, vol. 19(11), pages 1-31, May.
    17. Khaled Alshehri & Mohadese Basirati & Devin Sapsford & Michael Harbottle & Peter Cleall, 2024. "Nature-Based Secondary Resource Recovery under Climate Change Uncertainty: A Robust Multi-Objective Optimisation Methodology," Sustainability, MDPI, vol. 16(16), pages 1-27, August.
    18. Lupo, Toni, 2015. "Fuzzy ServPerf model combined with ELECTRE III to comparatively evaluate service quality of international airports in Sicily," Journal of Air Transport Management, Elsevier, vol. 42(C), pages 249-259.
    19. Jing Zhang & Xinglong Feng & Aixiang Wu & Haiyong Cheng & Zhengrong Li & Shaoyong Wang & Wei Sun & Chong Chen, 2025. "Critical early warning of underground debris flows in mines based on rainfall–collapse characteristics," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 121(1), pages 423-445, January.
    20. Alamoodi, A.H. & Zaidan, B.B. & Zaidan, A.A. & Albahri, O.S. & Chen, Juliana & Chyad, M.A. & Garfan, Salem & Aleesa, A.M., 2021. "Machine learning-based imputation soft computing approach for large missing scale and non-reference data imputation," Chaos, Solitons & Fractals, Elsevier, vol. 151(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:proeco:v:240:y:2021:i:c:s0925527321002206. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ijpe .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.