The fourth industrial revolution (I4.0) has changed the traditional business model, bringing various benefits, including increased efficiency and productivity in organizations. However, to attain success in I4.0 practices requires collaboration from various stakeholders. This study objectives to identify the facilitators of I4.0 practices that can lead to successful collaboration among stakeholders from a circular perspective. An extensive literature review is performed to identify 14 potential facilitators. Further, the study adopts a mixed methodology of Best-Worst Method (BWM) and Interpretive Structural Modeling (ISM) to analyze the interconnectedness among the identified facilitators. BWM method was used to determine the relative importance of the identified facilitators, while ISM technique was used to determine the relationships between the facilitators of I4.0 practices. The findings from the study reveal that to strengthen stakeholder collaboration, organizations need to focus more on training and capacity-building programs and create more opportunities for technology exchange.