Prioritisation of key readiness factors to adopt Industry 4.0 in manufacturing organisations using select MCDM approaches

Rajesh Attri and Vikas

International Journal of Process Management and Benchmarking, 2023, vol. 13, issue 3, 303-334

Abstract: Industry 4.0 is the utmost substantial matter of concern for manufacturing organisation these days. Every manufacturing organisation's readiness for Industry 4.0 can be measured by a list of necessary factors (known as key readiness factors). Finding the key readiness factors (KRFs) is not the only required task but it is also an extremely important job to prioritise those KRFs because the importance and requirement of KRFs is different for different industries. So, the main objective of this project is to explore and prioritise the KRFs of Industry 4.0 based on certain performance measures, i.e., benefits of adopting Industry 4.0. For this purpose, KRFs and performance measures (benefits) have been explored through literature study and experts' opinions. Afterwards, weightage of performance measures have been computed using fuzzy best worst method. Then, different MCDM approaches namely ORESTE, OCRA, ARAS, and CODAS have been used to prioritise the identified KRFs based on certain performance measures. The obtained results of current work will serve as information bank for the top management of manufacturing organisation to know and deploy the significant KRFs of Industry 4.0 in their implementation strategy.

Keywords: Industry 4.0; key readiness factor; KRFs; ranking; ORESTE; operational competitiveness rating analysis; OCRA; ARAS; CODAS. (search for similar items in EconPapers)
Date: 2023
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