Industry 4.0: prospects and challenges leading to smart manufacturing

Ramesh Rudrapati

International Journal of Industrial and Systems Engineering, 2022, vol. 42, issue 2, 230-244

Abstract: Fourth Industrial Revolution proposed advancements in production processes and its automation. Industry 4.0 (I4.0) is a broad domain to create smart factory which includes manufacturing methods, economy, data management, relationships between consumer and manufacturer, etc. I4.0 is introducing new themes of research to produce smart products which need to be explored at bottom levels of prospects and goals by academicians, business scholars, and various contributors of scientific community. The main aim of the present study is to review the prospects and challenges of I4.0 related various issues and aspects of smart manufacturing. Important components in I4.0 are also explored and discussed. Status of research works on I4.0 and its applications are included. Challenges faced by industrialists are mentioned and discussed. Various features and issues related to I4.0 discussed in the present study are expected to clarify the aims and fundamental components of I4.0. Concluding remarks has been drawn from the study.

Keywords: Industry 4.0; smart manufacturing; prospects of I4.0; challenges of I4.0. (search for similar items in EconPapers)
Date: 2022
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