Study of Micro and Small Enterprises' Readiness in Implementing Industry 4.0

Abstract

Industry 4.0 aims tp transform the development of global value chains and the development of a digital revolution, with intelligent machines capable of communicating via wireless connections and a connection thought system, resulting in autonomous decision-making. Although large sized firms are adopting Industry 4.0, the small and micro enterprises are facing great difficulties in adopting them. This study aims to identify the areas in which Enterprises need to focus for improving their level of readiness and develop strategies and plans to adopt Industry 4.0 technologies successfully. 219 samples were collected using snowball sampling from Marathwada District in Maharashtra, India. factor analysis was conducted using SPSS and different factors acting as barriers to implementation of Industry 4.0 technologies were identified.