Barriers to industry 4.0 implementation in Indian SMEs

The worldwide industrial field is undergoing significant changes as a result of the recent innovation in manufacturing organisations and the ongoing development of technology. SMEs must adopt the new production and management technologies demanded by the industry 4.0 (I4.0) concept in order to keep...

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Bibliographic Details
Main Authors: Rawat, Pratish, Kaushik, Yashpal, Purohit, Jayant Kishor
Format: Conference Proceeding
Language:English
Subjects:
Decision making
Impact analysis
Industry 4.0
Innovations
Internet of Things
Online Access:Get full text
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Summary:The worldwide industrial field is undergoing significant changes as a result of the recent innovation in manufacturing organisations and the ongoing development of technology. SMEs must adopt the new production and management technologies demanded by the industry 4.0 (I4.0) concept in order to keep up with the competition. I4.0 assumes that this developing technology will have a positive impact on industry, economy, and society, resulting in the creation of a model innovation business and an increase in output. I4.0 integrates the physical unit and the digital unit as a cyber-physical-system strengthened by the Internet of Things. SMEs would struggle to find trained labour, conduct research to create technologies to deploy altered product lines, and establish new business models in order to incorporate Industry 4.0 technology. In this study, an effort is made to pinpoint the major impediments to I4.0 adoption in Indian SMEs as well as to establish a link between them by using a decision-making trial and evaluation laboratory approach to assess the level of effect of each impediment.
ISSN:0094-243X
1551-7616
DOI:10.1063/5.0154347