Interaction Networks in the Production and Operations Environment: Internet of Things, Cyber-Physical Systems, and Smart Factories.

Author:Whittle, Therese
 
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  1. Introduction

    With the advent of cyber-physical systems, machines will be capable of interacting, while decentralized control systems can improve the manufacturing process. Industry 4.0 initiatives can be instrumental in enhancing and altering processes and in identifying groundbreaking prospects in the marketplace. (Xu et al., 2018) Aiming to adopt the feasible upsides supporting Industry 4.0, small and medium-sized enterprises managers should cease regarding the production system as an expense but as a route of options for reconfiguring their business patterns. (Moeuf et al., 2018)

  2. Conceptual Framework and Literature Review

    Industry 4.0 integrates smart sensors, artificial intelligence, and data analytics to upgrade production in real time. Supervising manufacturing processes represents the smoothest degree of managerial capacity attainable with technologies and resources associated with Industry 4.0. (Xu et al., 2018) Cloud computing has restructured the design of Internet of Things settings in nearly all spheres of the economy, while necessitating satisfactory requirements in the business approach and the computational framework to be embraced effectively and productively (Blacker, 2018; Hoffman and Friedman, 2018; McQuay, 2018; Meila, 2018; Pilkington, 2017; Popescu et al., 2018; Radulescu, 2018), particularly in relation to production where manufacturing services are extremely sensitive concerning their arrangement and localization within the confines of the computing configuration. (Beregi et al., 2019) Smart agents can recollect their manufacturing records, develop their present states, and grasp their subsequent objectives, industriously sequencing and assigning themselves. (Zhang et al., 2019)

  3. Methodology and Empirical Analysis

    Using and replicating data from BCG, Deloitte, Forbes; IDC, OECD, PwC, and Statista, I performed analyses and made estimates regarding implementation of Industry 4.0 (%), industries targeted by machine learning application developers (%), workers in jobs at high and medium risk of automation (%), and spending on Internet of Things worldwide by vertical in 2015 and 2020 (in billion U.S. dollars). Structural equation modeling was used to analyze the data and test the proposed conceptual model.

  4. Results and Discussion

    With the breakthroughs in sensor network technologies and wireless interaction, smart connected objects participate to an increasing extent in Internet of Things. (Xu et al., 2018) Smart...

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