The purpose of this study is to explore how operational excellence (OPEX) can be redefined in the era of Industry 5.0 (I5.0) by integrating human-centric, sustainability and resiliency principles. This study investigates the role of emerging technologies and I5.0 to align OPEX with the United Nations Sustainable Development Goals (SDGs) and highlights the involvement of multiple stakeholders in this transformation. This is particularly relevant for Ibero-American countries, where organisations are increasingly seeking to incorporate sustainability and human-centric values into their operational models to meet global development targets.The authors adopted a conceptual and literature-based approach to review and synthesise academic literature and industry reports on OPEX, Industry 4.0 (I4.0) and I5.0. This study examines how cobots, digital twins, artificial intelligence and blockchain can be integrated with sustainability principles within OPEX systems and can be mapped to specific SDGs through a multi-stakeholder perspective.This study finds that I5.0 shifted the OPEX from efficiency-focused to inclusive, resiliency and sustainability. OPEX in I5.0 supports SDG 8 (Decent Work), SDG 9 (Industry and Innovation), SDG 12 (Responsible Production), SDG 13 (Climate Action) and SDG 17 (Partnerships) by enabling human–machine collaboration and circular practices. This study emphasises that multi-stakeholder engagement is critical to achieve these outcomes. These findings hold strong potential to guide the ongoing OPEX transformations across Ibero-American organisations aiming to align with their global SDG benchmarks.This study provides the guidelines to industries and policymakers on redesigning OPEX models to balance competitiveness with social and environmental responsibilities. This study offers the specific strategic directions that can support Ibero-American countries in incorporating I5.0 principles into their operational systems to support SDGs.This paper offers one of the initial structured discussions that integrates OPEX, I5.0 principles and SDGs into a single framework, which is shifting the theoretical view of OPEX from a firm-centric process capability to a multi-stakeholder sustainability enabler.