Supporting Tool for The Transition of Existing Small and Medium Enterprises Towards Industry 4.0

Miguel Baritto, Md Mashum Billal, S. M. Muntasir Nasim, Rumana Afroz Sultana, Mohammad Arani and Ahmed Jawad Qureshi

Papers from arXiv.org

Abstract: The rapid growth of Industry 4.0 technologies such as big data, cloud computing, smart sensors, machine learning (ML), radio-frequency identification (RFID), robotics, 3D-printing, and Internet of Things (IoT) offers Small and Medium Enterprises (SMEs) the chance to improve productivity and efficiency, reduce cost and provide better customer experience, among other benefits. The main purpose of this work is to propose a methodology to support SMEs managers in better understanding the specific requirements for the implementation of Industry 4.0 solutions and the derived benefits within their firms. A proposed methodology will be helpful for SMEs manager to take a decision regarding when and how to migrate to Industry 4.0.

Date: 2020-10
New Economics Papers: this item is included in nep-big
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