Industry 4.0: key findings and analysis from the literature arena

Abstract

Purpose In recent years, a new transformation known as Industry 4.0 has drawn much attention throughout the world, and numerous investigations have fundamentally looked into the uprising concept. However, few have concentrated on the literature review. Taking this as motivation, the authors endeavored to assess the different attributes of Industry 4.0. The paper aims to discuss these issues. Design/methodology/approach This review concentrated on linking the articles from different database and distinguishing the attributes of Industry 4.0. The authors assessed 85 articles from scholarly database and peer-reviewed journals on Industry 4.0 through the selection of the Mayring (2004) procedure. The examination included a four-advance process, in particular, material gathering, engaging investigation, classification of the choice and material assessment. Findings The study backs experts and readers to comprehend the spread of Industry 4.0 in various ventures. For academicians, this gives an extensive rundown of Industry 4.0 attributes. Besides, the writing review gives a chance to comprehend the idea of Industry 4.0 in detail. Further, the outcome aggregates the success factor, failure factor, business model, potential and difficulties in the context of Industry 4.0. Research limitations/implications Many areas such as supply chain, circular economy and healthcare have started exploring Industry 4.0. However, few specific cases have reported about it, and no generic model is found for real-time application. Practical implications The study serves as reference material for researchers and practitioners to understand the spread of Industry 4.0 and utilize the concept of Industry 4.0 for real-life application. Originality/value The study focuses on reporting the potential, challenges, business model and pre-requites of Industry 4.0.

Circular Economy and Industry 4.0: One-Way or Two-way Relationships?

“…There are various explanations of Industry 4.0, and consensus regarding the technologies that should be included is lacking (Rosa, et al, 2020). This finding leads to the perception that Industry 4.0 as used as a buzzword (Rejikumar et al 2019). There is no one definition that is more frequently quoted in the selected papers.…”

Propuesta de construcción de competencias de innovación en la formación de ingenieros en el contexto de la industria 4.0 y los objetivos de desarrollo sostenible (ODS)

“…Por lo tanto, la Industria 4.0 puede implementar un entorno y proporcionar un servicio más inteligente, haciendo que los procesos se lleven a cabo perfectamente en varios sectores de la industria, teniendo una amplia gama de aplicaciones. Aunque Industria 4.0 es un término establecido en el mundo moderno de hoy, su significado y su implementación todavía está ausente en algunos casos debido a la falta de conciencia real de las personas en estos temas (Rejikumar et al, 2019). Los avances tendrán un profundo efecto en la sociedad y en los individuos, ya que se mejorará la producción, integración y manejo de los sistemas informáticos.…”

“…Por su parte, los gobiernos han asumido un papel de liderazgo y muchos de ellos han decidido iniciar un viaje evolutivo hacia la Industria 4.0 (Rejikumar et al, 2019). Por lo tanto, es de esperar que dicha transformación se produzca de acuerdo con los objetivos y metas que cada país se compromete a cumplir tanto con su propia nación como con el mundo entero.…”

“…Estos cambios respecto a la industria tradicional demandarán a los trabajadores nuevas habilidades y competencias. En el área de la ingeniería, se requerirán profesionales con amplias habilidades digitales, aprendizajes ágiles, trabajo en equipo, resolución de problemas, comunicación efectiva e innovación, que sepan responder a los nuevos funcionamientos de las plantas de producción y se integren exitosamente a las dinámicas de trabajo digitales y automáticas (Rejikumar et al, 2019).…”

Toward SME 4.0: The Impact of Industry 4.0 Technologies on SMEs’ Business Models

“…As a result, products become customized, processes are networked, and knowledge barriers are reduced among users. The "context-aware" Smart Factory takes into consideration the position as well as status of a product within the process and assists machines as well as people performing their tasks (Rejikumar et al 2019;Weking et al 2019).…”