Cyber-Physical Smart Manufacturing Systems: Sustainable Industrial Networks, Cognitive Automation, and Data-Centric Business Models.

• Date: 01 June 2019
• Author: Tuffnell, Caryl

1. Introduction

   The development of Internet of Things, big data, and cloud computing enables interactions among customers, assemblers, providers, and service suppliers. (Yin et al., 2018) Industry 4.0 constitutes the growing intelligence of commodities and systems, their intra-organizational reciprocal connection and their cross-firm assimilation into value creation networks. (Schneider, 2018)

2. Conceptual Framework and Literature Review

   The development of markets and customer demands with maximum degree of accuracy has been accomplished with technology and information systems (Bratu, 2018; Mengoli et al., 2017; Nica, 2017, 2018; Nordberg, 2017; Petcu, 2017; Sion, 2018), a cutting-edge manner of performing operations in organizations whose capacity to adjust swifter technological advancements justifies their existence on the market. (Saucedo-Martinez et al., 2018) Value innovation is decisive particularly for traditional firms encountering groundbreaking digital undermining of their current business patterns generated by Industry 4.0 and the Internet of Things. (Matthyssens, 2019)

3. Methodology and Empirical Analysis

   Using and replicating data from BCG, Deloitte, LMTPE-RWTH Aachen University, and PwC, we performed analyses and made estimates regarding Industry 4.0 value creation (%), elements that are expected to be highly relevant along the automotive value chain in 2030 (%), and how industrial companies are moving towards greater digital value creation, and from augmented products to serving digital ecosystems (%). Structural equation modeling was used to analyze the data and test the proposed conceptual model.

4. Results and Discussion

   Industry 4.0 represents an innovative industrial phase in which vertical and horizontal production processes assimilation and manufacturing connectivity can assist firms in attaining superior industrial performance. (Dalenogare et al., 2018) Internet of Things attempts to find a solution to networking among all objects and systems in a smart factory, while cloud computing supplies effortless access to data and services. (Frank et al., 2019) (Tables 1-8)

5. Conclusions and Implications

   Adoption of Internet of Things and software for production sector for advancement of Industry 4.0 alters operations and manufacturing systems together with stakeholders in a broad variety of kinds and configurations. (Molano et al., 2018) The cutting-edge technologies of Industry 4.0 back the firms to gather practical feedback from the complete lifecycle of commodities and services, from the planning stage to the utilization one, by assimilating groundbreaking technologies. (Mourtzis et al., 2018)

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