Efficient response by manufacturing industries towards core technologies, benefits, current status and barriers to implementing Industry 4.0 concept

Dheeraj Nimawat and B.D. Gidwani

International Journal of Process Management and Benchmarking, 2023, vol. 13, issue 3, 423-448

Abstract: In the manufacturing sector, the Industry 4.0 concept is viewed as the contemporary avenue. Industry 4.0 is the latest innovation in an organisation's mechanisation and information exchange capabilities. Fortunately, very few understand how industries, particularly in emerging economies, view the positive impact of Industry 4.0 core technologies on improving industrial efficiency. The study's analysis approach was examined by employing the questionnaire as a data collection instrument by surveying and interviewing experts from 175 Indian manufacturing industries. This survey examines the level of execution of Industry 4.0's core technologies and the level of readiness of manufacturing industries. It also rates barriers towards Industry 4.0 implementation and benefits gained through implementing Industry 4.0 by the Indian manufacturing sector. The survey's preeminent purpose is to examine the level of execution and awareness of Industry 4.0 in Indian manufacturing industries, the evolution of effective approaches, relevant individuals, and alertness. This research serves as unique inception for executives/stakeholders to grasp the Industry 4.0 concept and highlight the key barriers, core technologies, readiness, and benefits of Industry 4.0 implementation.

Keywords: advanced manufacturing technologies; fourth industrial revolution; readiness; challenges; augmented reality; big data and analytics; manufacturing industries; developing countries. (search for similar items in EconPapers)
Date: 2023
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