Industry 4.0 Challenges for the Business Model

2018

Industry is the part of an economy that manufacture components and goods which are highly automatized. This paper presents a general understanding about the Fourth Industry Revolution- Industry 4.0 approach from a commercial point of view. Firstly, the history of Industrial Revolution is explained and the roadmap to Industry 4.0 is shown. Industry components and the main understanding of Industry 4.0 is explained through the previous studies. Secondly, the most common usage, implementation areas and the challenging points are demonstrated. Commercial and industrial application examples of Industry 4.0 in different sectors and the possible implementation areas are defined based on countries and sectors. Finally, the commercial impacts of this new business model is given from the industrial and human perspectives.

Journal of Sensors

Every so often, a confluence of novel technologies emerges that radically transforms every aspect of the industry, the global economy, and finally, the way we live. These sharp leaps of human ingenuity are known as industrial revolutions, and we are currently in the midst of the fourth such revolution, coined Industry 4.0 by the World Economic Forum. Building on their guideline set of technologies that encompass Industry 4.0, we present a full set of pillar technologies on which Industry 4.0 project portfolio management rests as well as the foundation technologies that support these pillars. A complete model of an Industry 4.0 factory which relies on these pillar technologies is presented. The full set of pillars encompasses cyberphysical systems and Internet of Things (IoT), artificial intelligence (AI), machine learning (ML) and big data, robots and drones, cloud computing, 5G and 6G networks, 3D printing, virtual and augmented reality, and blockchain technology. These technologie...

Proceedings of the Design Society: International Conference on Engineering Design, 2019

With the rapid success of the digital enterprises in the 21st Century, industrial manufacturing is expected to be approaching the fourth industrial revolution, coined Industry 4.0 (I4.0). The instrumental technology that will drive this evolution is the integration of the physical and digital factory into one cyber physical system. There is consensus among academics and industry alike that there will be an integral paradigm shift in how offerings will be developed and manufactured. While there is much confidence that the future factory will have unprecedented capabilities to satisfy complex customer demands, there is little agreement on how individual organisations can utilise these trends. This paper presents a literature review identifying reoccurring themes and trends of I4.0 and their expected effect on future manufacturing. Central characteristics, challenges and opportunities are identified and discussed. The findings can provide support in developing actionable strategies for...

2020

Received: 25 January 2019 Abstract Accepted: 14 August 2019 Low cost manufacturing of quality products remains an essential part of present economy and technological advances made it possible. Advances and amalgamation of information technology bring the production systems at newer level. Industry 4.0, factory for future, smart factory, digital manufacturing, and industrial automation are the new buzz words of industry stalwarts and academicians. These new technological revolutions bound to change not only the complete manufacturing scenarios but many other sectors of the society. In this paper an attempt has been made to capture the essence of Industry 4.0 by redefining it in simple words, further its complex, disruptive nature and inevitability along with technologies backing it has been discussed. Its enabling role in manufacturing philosophies like Lean Manufacturing, and Flexible Manufacturing are also reported. At last the challenges its adoption and future research areas are ...

SAGE Open, 2016

This article is focused on the importance and influence of Industry 4.0 and consequently the Internet-connected technologies for the creation of value added for organizations and society. The contribution of the article is mainly conceptual. With the development of the Internet, the Internet of things that is central to the new industrial revolution has led to “Industry 4.0.” The aim of this article is to synthesize the known theory and practices of Industry 4.0, and to investigate the changes that will result from Industry 4.0 and with the development of the Internet of things.

Proceedings on Engineering Sciences, 2022

Industry 4.0 is a new level of value chain organization and management , which is likely to change the way processes, supply chain, and business models operate , which is why many companies are evaluating the concepts and applications synthesized under the term Industry 4.0 to develop their own business strategies, which under this new industrial disruption, which is founded on some basic principles such as interoperability, virtualization, decentralization, real-time capabilities, service orientation, etc., and where there are, for example, smart factories capable of creating virtual copies of the physical world, monitoring physical processes, self-managing, optimizing, and making decisions autonomously in real time. The need to integrate processes within enterprise between ERP and shop-floor level and also across enterprise boundaries for optimal and collaborative environment, to highlight the importance of real time information access in order to make decision and to show the importance of predictive maintenance in a production environment prompted this research. Information obtained from industries were analyzed. The results however, showed that industry 4.0, if fully adopted would increase production of goods and services and also save time consumed during production stage.

Wireless Networks, 2019

The fourth industrial (r)evolution called Industry 4.0 transfers production to a different dimension of productivity, flexibility and also mobility. Enterprises using advanced technologies such as Mobile Technologies, Big Data Analytics, Cloud Computing, Internet of Things, etc. and using intelligent resources (e.g. mobile devices, mechatronic machines, means of transport) communicating with each other via the Internet in real time can produce customized products quickly and at low cost. On the one hand the Industry 4.0 concept creates great benefits for the client, and on the other hand raises challenges for industrial enterprises. There is a need to improve existing and create new business models that will combine the potential of many enterprises and together create innovative, very modern production networks based on mobile technologies and the Internet of Things. The article presents the results of research about the creation of innovative production networks operating in the e...

Organizacja i Zarządzanie : kwartalnik naukowy, 2019

After three industrial revolutions, the fourth has come, transferring production to sophisticated networks of companies equipped with intelligent devices, machines, and means of transport, communicating with each other using modern technologies. It creates new challenges for industrial companies; it requires existing business models to be redefined. The development of the Industry 4.0 concept forces modern companies, especially small and medium-sized enterprises, to quickly and flexibly adapt to the changing demand conditions. This is reflected in the creation of new business models, ones that allow for the introduction of innovations, the rapid reorganization of processes, and very flexible adaptation of enterprises to the conditions of a changing environment. The aim of the article is to present the concept of a business model assuming the creation of a network of small and medium-sized enterprises that are able to generate added value for their clients in the era of Industry 4.0.

Research, Society and Development

The production models created by the industry throughout the twentieth century are now put in check in the face of technological developments and the new digital transformation of manufacturing, known as Industry 4.0 (I4.0). Although many advantages and possibilities are still perceived from this transition, there is little discussion about the business models that will best adapt to this context, making it opportune to review the business models that emerge or are adapted to this new paradigm. This study aims to study the business models related to I4.0, in order to understand how these models support the value creation and how the alignment takes place with the strategy, in addition to identifying gaps for future studies. The methodology used was a systematic literature review, using bibliometrics and network and content analysis. This research had a descriptive purpose, making use of secondary sources through bibliographic survey, with consultation of SCOPUS and Web of Science da...

Industry 4.0 - Current Status and Future Trends, 2020

Industry 4.0 and related technologies will remain at the top agenda of manufacturing systems until respective digital transformation is completed. In order to increase the speed of the transformation and the respective performance, a taxonomy of industry 4.0 is proposed in this chapter. The taxonomy is defined through four aspects including strategic understanding, managerial practices, technological infrastructure and developments, as well as human intervention with respective skills and competencies. Each aspect of these is defined and further subcategorized in order to reveal the real dynamics of industry 4.0 and respective implementations. Generating the taxonomy would also easy the categorization of the respective efforts and make the assessment processes to be carried out more effectively. It is also believed that the proposed taxonomy will be the source of generating a maturity model of industry 4.0. Note that the proposed taxonomy and respective components are defined by reviewing 620 papers, maturity models, and industry 4.0 projects.