THE CHALLENGES AND OPPORTUNITIES OF INDUSTRY 4.0-A REVIEW

Main Article Content

Sreenivasan Jayashree
C. A. Malarvizhi
Mohammad Nurul Hassan Reza

Abstract

The Fourth Industrial Revolution, most encouraging industrial wave puts remarkable challenges and opportunities for organizations from the industrial, managerial and operational viewpoint. The achievement of the most recent innovations of Industry 4.0 and the change of creation methodology includes surprising challenges and opportunities in the ground of work and future manufacturing procedures require novel capabilities (Horváth, and Szabó, 2019). Sometimes the organizations face tremendous difficulties to identify the challenges as well as the opportunities of Industry 4.0. Hence, the challenges and opportunities of Industry 4.0 should be recognized appropriately, assessed precisely and afterward should be executed consequently. With the expectation of understanding the aspects of challenges and opportunities of Industry 4.0 as a disruptive industrial issue and to contribute the existing literature an arranged review strategy was executed to assemble the literature.

Article Details

Section

References

[1] Adolph, S., Tisch, M., & Metternich, J. (2014). Challenges and approaches to competency development for future production. Journal of International Scientific Publications–Educational Alternatives, 12(1), 1001-1010.

[2] Basl, J. (2017). Pilot study of readiness of Czech companies to implement the principles of Industry 4.0. Manag. Prod. Eng. Rev. 8, 3–8.

[3] Bauer, W., Hämmerle, M., Schlund, S., Vocke, C. (2015). Transforming to a hyper-connected society and economy – towards an “Industry 4.0.”. Procedia Manuf. 3, 417–424.

[4] Cimini, C., Pinto, R., Pezzotta, G., Gaiardelli, P. (2017). The transition towards industry 4.0: business opportunities and expected impacts for suppliers and manufacturers. In: Advances in Production Management Systems. The Path to Intelligent, Collaborative and Sustainable Manufacturing. APMS 2017. IFIP Advances in Information and Communication Technology Springer, Cham, pp. 119–126.

[5] de Sousa Jabbour, A. B. L., Jabbour, C. J. C., Foropon, C., & Godinho Filho, M. (2018). When titans meet–Can industry 4.0 revolutionise the environmentally-sustainable manufacturing wave? The role of critical success factors. Technological Forecasting and Social Change, 132, 18-25.

[6] Horváth, D., & Szabó, R. Z. (2019). Driving forces and barriers of Industry 4.0: Do multinational and small and medium-sized companies have equal opportunities? Technological Forecasting and Social Change, 146, 119-132.

[7] K. Zhou, T. Liu, and L. Zhou. (2016). Industry 4.0: Towards Future Industrial Opportunities and Challenges, in International Conference on Fuzzy Systems and Knowledge Discovery, pp. 2147–2152.

[8] Kiel, D., Müller, J., Arnold, C., Voigt, K.-I. (2017b). Sustainable Industrial Value Creation: Benefits and Challenges of Industry 4.0. International Society for Professional Innovation Management (ISPIM), Vienna, pp. 1–21.

[9] Lins, T., Oliveira, R.A.R. (2017). Energy efficiency in industry 4.0 using SDN. In: IEEE 15th International Conference on Industrial Informatics (INDIN), pp. 609–614 Emden.

[10] Müller, J. M., & Voigt, K. I. (2018). Sustainable industrial value creation in SMEs: A comparison between industry 4.0 and made in China 2025. International Journal of Precision Engineering and Manufacturing-Green Technology, 5(5), 659-670.

[11] Paritala, P.K., Manchikatla, S., Yarlagadda, P.K. (2016). Digital manufacturing-applications past, current, and future trends. Procedia Eng 174, 982–991.

[12] Pereira, A. C., & Romero, F. (2017). A review of the meanings and the implications of the Industry 4.0 concept. Procedia Manufacturing, 13, 1206-1214.

[13] R. Schmidt, M. Möhring, R.-C. Härting, C. Reichstein, P. Neumaier, and P. Jozinovi?. (2015). Industry 4.0 - Potentials for Creating Smart Products: Empirical Research Results, in International Conference on Business Information Systems, pp. 16–27.

Similar Articles

You may also start an advanced similarity search for this article.