Creating value with Industry 4.0

Abstract

We are in the age of Industry 4.0. Evolution and advancements in information and communication technology, sensors, Big Data, the Internet of Things, 3D printing, cloud computing, robots and mobile internet are some of the key technology areas that will digitize the value chains in various industries. The benefits are expected to be enormous along all value dimensions: efficiency, flexibility, quality, larger product selection and unique customer experience. The goal of this thesis is to understand and explore how adoption of Industry 4.0 technologies will impact and transform the functions of a value chain. Research consists of extensive study of industry case studies from leading providers, research papers, industry reports and journals. This thesis analyzes current applications and benefits of Industry 4.0 technologies and their impacts. It also explores risk and barriers of technology adoption by researching industry examples. The outcomes of the thesis are: -- A "Benefit-Impact Mapping Framework" to capture the how implementation Industry 4.0 technologies can impact organizations. -- A "Conceptual Framework" to assist in strategic decision making for adoption of Industry 4.0.