New Developments in Cyber Physical Systems, the Internet of Things and the Digital Economy – Discussion on Future Developments in the Industrial Internet of Things and Industry 4.0

Abstract

The world is currently experiencing the fourth industrial revolution driven by the newest wave of digitisation in the manufacturing sector. The term Industry 4.0 (I4.0) represents at the same time: a paradigm shift in industrial production, a generic designation for sets of strategic initiatives to boost national industries, a technical term to relate to new emerging business assets, processes and services, and a brand to mark a very particular historical and social period. I4.0 is also referred to as Industrie 4.0 the New Industrial France, the Industrial Internet, the Fourth Industrial Revolution and the digital economy. These terms are used interchangeably in this text. The aim of this article is to discuss major developments in this space in relation to the integration of new developments of IoT and cyber physical systems in the digital economy, to better understand cyber risks and economic value and risk impact. The objective of the paper is to map the current evolution and its associated cyber risks for the digital economy sector and to discuss the future developments in the Industrial Internet of Things and Industry 4.0.

Cyber Risk impact Assessment - Assessing the Risk from the IoT to the Digital Economy

“…The aim of the research is to define how do we understand that we really understand cyber risk assessment. This approach was considered relevant to this question because most cyber security frameworks and methodologies propose answers to a quantitative question with qualitative assessments [3][4][5][6][7][8][9][10] .…”

“…This becomes clearly visible in Table 2. This variety of approaches presents conflict in risk assessment 4,5,14,[32][33][34][35][36][6][7][8][9][10][11][12][13] . To avoid such conflicts, the core cyber impact assessment concepts are extracted to defining the design principles for cyber risk impact assessment from IoT in the digital economy.…”

Green-field Architecture for Sustainable Supply Chain Strategy Formulation

“…[10]. Therefore the focus when developing a supply chain strategy is towards integration and collaboration [11][12][13][14][15][16]. Unfortunately collaboration is often focused on enterprise profitability and not supply chain profitability [4], [5], [7], [17], leading to a focus on local optimization [8], [17], [18].…”

“…Future research challenge emerging from these findings, is to design a conceptual framework for holistic supply chain formulation that would anticipate the effect of external dimensions to the business and supply chain strategies. Continuation of this research is in preparation and the aim is to publish these updates regularly 1,2,[11][12][13][14][15][16][17][18][19][20]3,[21][22][23][24][25][26][27][4][5][6][7][8][9][10] .…”

Supply Chain Systems Architecture and Engineering Design: Green-Field Supply Chain Integration

“…Further research is required into the topic of addressing strategy absence, because in such scenarios, the formulation would be difficult to implement. A series of publications follows this research 1,2,[11][12][13][14][15][16][17][18][19][20]3,[21][22][23][24][25][26][27][28][29][30]32…”