The concept of "Industry 4.0" is expected to bring a multitude of benefits for industrial value creation. However, the associated risks hamper its implementation and lack a comprehensive overview. In response, the paper proposes a framework of risks in the context of Industry 4.0 that is related to the Triple Bottom Line of sustainability. The framework is developed from a literature review, as well as from 14 in-depth expert interviews. With respect to economic risks, the risks that are associated with high or false investments are outlined, as well as the threatened business models and increased competition from new market entrants. From an ecological perspective, the increased waste and energy consumption, as well as possible ecological risks related to the concept "lot size one", are described. From a social perspective, the job losses, risks associated with organizational transformation, and employee requalification, as well as internal resistance, are among the aspects that are considered. Additionally, risks can be associated with technical risks, e.g., technical integration, information technology (IT)-related risks such as data security, and legal and political risks, such as for instance unsolved legal clarity in terms of data possession. Conclusively, the paper discusses the framework with the extant literature, proposes managerial and theoretical implications, and suggests avenues for future research.

Purpose Industry 4.0 is assumed to yield extensive industry-spanning opportunities. However, exploiting these opportunities requires a targeted implementation of Industry 4.0. The purpose of this paper is to generate a deeper understanding of relevant implementation action. Existing recommendations are mostly general, highly aggregated and difficult to grasp. Yet, specific and concrete actions that need to be taken to accelerate the realization of Industry 4.0 are essential. Design/methodology/approach The article uses 13 semi-structured in-depth expert interviews as the source of empirical data. The interviews were conducted with managers from Industry 4.0-experienced German manufacturing companies. All interviews are analyzed using qualitative content analysis. Findings The study reveals relevant and targeted aspects for Industry 4.0 implementation: the development of Industry 4.0-specific know-how, securing financial resources, integrating employees into the implementation process and establishing an open-minded and flexible corporate culture. Further aspects include comprehensive planning processes, cooperation with external partners, proper handling of data interfaces, interdisciplinary communication, an adaptable organizational structure and data security. Research limitations/implications The paper is limited to German manufacturing enterprises and should be transferred to other industries and countries. Practical implications The study supports managers to effectively implement Industry 4.0 within their organizations and consequently benefit from Industry 4.0 and derives recommendations for future research. Originality/value The paper is among the first to give specific and concrete examples for lessons learned from Industry 4.0 implementation, directly obtained from industrial application.

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PurposeThe study analyses how Industry 4.0 and underlying digital technologies influence the design of ecosystems in global value chains (GVCs).Design/methodology/approachA qualitative-exploratory research design is used. It deploys a multiple case study based on semi-structured interviews with 73 German managers of multinational enterprises. Applying a qualitative content analysis, the expert interviews are inductively analyzed and triangulated with secondary data to develop a synthesized data structure.FindingsThe analysis reveals a general tendency towards decentralization of value chain activities. Depending on the nature of each activity and several contextual factors, however, hybrids between centralization and decentralization of processes can be observed in Industry 4.0 environments. Consequences for global ecosystems are altered cooperation with business partners, new organizational forms and novel market environments.Research limitations/implicationsGiven inherent limitations in scope and methodology, the study calls for cross-industry and cross-country analyses. Further studies should research implications of Industry 4.0 changes in ecosystems and GVCs, and the role digital platforms can play in this context.Practical implicationsThe results help companies to analyze and adapt their role in ecosystems and associated GVC activities to Industry 4.0 environments, thus staying competitive in changing market conditions.Originality/valueThis study is among the first to empirically investigate the influence of Industry 4.0 on ecosystems embedded in GVCs. Reflecting existing company environments, it adds an international and company-external perspective to Industry 4.0 research.

about specific changes implied by digital platforms in industrial value creation, regarding the potentials that arise through their application, and especially involving adequate implementation strategies for companies (

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Purpose This study analyzes how technological changes in the context of Industry 4.0 influence buyer-supplier relationships (BSRs). Design/methodology/approach The study is explorative in nature; hence, an empirical qualitative research design is applied. It bases on 45 expert interviews with managers from German and Austrian industrial companies as empirical data. A qualitative content analysis is conducted to inductively analyze the empirical material and to identify common patterns, themes and categories. Findings The paper finds that future transactions are mainly based on digitized, automated procedures, transferring various value creation processes to platforms. BSRs become more intense in nature. Companies consolidate their supplier base by focusing on important strategic suppliers. Research limitations/implications As the paper is of exploratory nature, it can only present first qualitative insights. Further studies can extend the results by analyzing and contrasting BSRs in various industries or value chain stages and map differences and similarities, respectively. Practical implications The paper's results provide implications for management and corporate practice alike. These help companies to raise Industry 4.0's full potential as for BSRs creating and securing long-term and sustainable competitive advantages. Originality/value This paper is among the first to empirically investigate BSRs in the context of Industry 4.0. Providing implications for research and corporate practice, it contributes to tapping Industry 4.0's full potential complementing an extra-organizational perspective.