Authors : Foluso Israel Taiwo; Olalekan Oladipo

Volume/Issue : Volume 11 - 2026, Issue 8 - August

Google Scholar : https://tinyurl.com/4ze8kz9t

DOI : https://doi.org/10.38124/ijisrt/26aug758

Note : A published paper may take 4-5 working days from the publication date to appear in PlumX Metrics, Semantic Scholar, and ResearchGate.

Abstract : The fourth industrial revolution, Industry 4.0, represents a paradigm shift in manufacturing, supply chain management, and procurement, driven by the convergence of artificial intelligence (AI), the Internet of Things (IoT), and cyberphysical systems. This paper develops an integrated academic framework examining the transformative impact of Industry 4.0 technologies on procurement and accounting functions. Drawing on established literature and emerging empirical evidence, the research proposes a conceptual model that bridges the technological capabilities of Industry 4.0 with the strategic imperatives of procurement excellence and financial accountability. The analysis demonstrates that digital transformation enables a transition from traditional, transactional procurement to Procurement 4.0—a data-driven, strategic function characterized by predictive analytics, automated processes, and enhanced supplier collaboration. Furthermore, the paper explores the implications for accounting practices, including real-time cost allocation, activity-based costing in networked environments, and the emergence of AI-augmented financial control systems. The findings contribute to both academic discourse and professional practice by providing a theoretically grounded framework for understanding and implementing Industry 4.0-enabled procurement and accounting systems.

Keywords : Industry 4.0, Procurement 4.0, Digital Transformation, Accounting Information Systems, Artificial Intelligence, Internet of Things, Supply Chain Management, Strategic Sourcing.

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