Caribbean SMEs (EduColCom and BevCom) identified Industry 4.0 (I4.0) enabling technologies integrating areas of their value networks. This enabled them to be innovative, competitive and sustainable within the global marketplace. This paper illustrated Proof of Concept examples of I4.0 technologies and overcoming implementation challenges by horizontally integrating with a vendor. Structured interviews with C-level executives determined each SME’s I4.0 developmental readiness and the methods used to select and adopt new technologies. Their strategies were based on the existing stability of each system and reinforced the need of C-level support for transformation. Their evolution roadmaps can be duplicated by other SMEs to achieve similar improvements.
Methodology for Estimating the Expected Cost of Engineering and Technology Innovation
