Improving triple bottom line (TBL) performance: analyzing impacts of industry 4.0, lean six sigma and circular supply chain management

The primary objective of the article is to scrutinize the potential benefits of amalgamating industry 4.0 technologies, lean six sigma practices (LSSP), and circular supply chain management (CSCM) to augment overall performance across economic, environmental, and social dimensions, commonly referred to as the triple bottom line. The research uses survey methodology to collect data from senior-level employees in 224 manufacturing organizations and analyze it using structural equation modeling. Based on the analytical findings, it is evident that Industry 4.0 has a direct and significant impact solely on the economic dimension of triple bottom line performance. The relationship between Industry 4.0 and environmental performance is completely influenced by the implementation of LSSP and CSCM. In terms of social performance, the impact of LSSP appears to be not significant, whereas CSCM acts as a full mediator. Finally, with economic performance, LSSP and CSCM partially mediate between the industry 4.0 deployment and triple bottom line performance. There are some limitations, such as the potential lack of generalizability due to the inclusion of a specific demographic and time frame, for which alternative research strategies, such as longitudinal studies or case-study-based designs, may be more appropriate. Study results may assist senior management in developing a strategic framework to improve their organization's triple bottom line performance, advance its sustainability initiatives, and bolster its market competitiveness. Graphical abstract