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Driving Profitable Business Growth Through Economical Optimization, Energy Management, and Industrial 5.0 Innovations

Lalchhantluangi Pachuau (Department of Management, Pachhunga University College, Aizawl, India), D. N. S. Bhaskar (Department of Humanities and Social Sciences, Vasavi College of Engineering (Autonomous), Hyderabad, India), V. Manimegalai (Department of Management Studies, Nandha Engineering College (Autonomous), Erode, India), Yashswini Varde (Department of Management, International Institute of Management Studies, Pune, India), Harshitha Y. S. (Department of Business and Management, Christ University (Deemed), Bengaluru, India), and S. Murugan (Gona College of Technology, India)

EISBN13: 9798369373071|DOI: 10.4018/979-8-3693-2643-5.ch015

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Abstract

The chapter emphasizes the significance of economic optimization, energy efficiency, and Industrial 5.0 innovations in driving sustainable growth and profitability in today's business landscape. It highlights the strategic allocation of resources to maximize efficiency and minimize costs, using lean management principles, automation, and data analytics. Energy management is crucial for reducing operational costs and mitigating environmental impact, using renewable energy sources and smart technologies. Industrial 5.0, a new era of industrial transformation, combines automation, connectivity, and data exchange, with technologies like artificial intelligence, IoT, and blockchain.

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Driving Profitable Business Growth Through Economical Optimization, Energy Management, and Industrial 5.0 Innovations

Abstract