Manuscript Title:

ACE THE INDUSTRY 4.0 - FOR PACE IN GROWTH

Author:

Dr. VIMALNATH V, SUKULU J

DOI Number:

DOI:10.17605/OSF.IO/5EQYU

Published : 2022-05-23

About the author(s)

1. Dr. VIMALNATH V - Assistant Professor (Sr.G), Department of Management Studies, SRM Institute of Science and Technology, Vadapalani, Chennai, India.
2. SUKULU J - Student, Department of Management Studies, SRM Institute of Science and Technology, Vadapalani, Chennai, India.

Full Text : PDF

Abstract

The era of Industry 4.0 has brought some opportunities and challenges to businesses. How the Internet of Things (IoT), Virtual Reality (VR), or Cloud Computing is transforming our business? Profound structure and literature research shows that most of the large companies are coming up and running investment plan. Some of them will be reviewed as part of the studyand will show Industry 4.0. Investment in such companies exceeds SME sales ( € 50 million) inall cases. Access to these technologies is extremely difficult for small businesses. The survey also identified two gaps. Current research does not cover the implementation of Industry 4.0 technology in small businesses. From a practical point of view and also some existingroadmaps for implementing the industry 4.0 does not focus on SMEs. In addition, SMEs do nothave the resources to choose the right technology or you don't have the resources to develop the right strategy and fully support the consulting firm. To end this, a simple six-step roadmap has been proposed that includes the actual implementation of Industry 4.0 in a small business. Our results show the implementation of an Industry 4.0 solution according to the proposed roadmap which helps SME choose the right technology. In addition, there are actual examplesshown in this area. It shows that SME can access some Industry 4.0 technologies with a smallinvestment.


Keywords

Industry 4.0; SME; roadmap; low-cost; Iot.