scholarly journals Financial modeling trends for production companies in the context of Industry 4.0

2021 ◽  
Vol 18 (1) ◽  
pp. 270-284
Author(s):  
Inga Kartanaitė ◽  
Bohdan Kovalov ◽  
Oleksandr Kubatko ◽  
Rytis Krušinskas
Keyword(s):  
Real Time ◽  
Industry 4.0 ◽  
Human Error ◽  
Business Models ◽  
Financial Economic ◽  
Object Identification ◽  
Financial Modeling ◽  
Frequent Use ◽  
Demand Information ◽  
The Relationship

Over the years, technological progress has accelerated highly, and the speed, flexibility, human error reduction, and the ability to manage the process in real time have become more critical and required production companies to adapt production and business models according to the needs. The demand for real-time decision support systems adapted to these raising business needs is continuously growing. Nevertheless, businesses usually face challenges in identifying new indicators, data sources, and appropriate financial modeling methods to analyze them. This paper aims to define and summarize the main financial/economic forecasting methods for production companies in the context of Industry 4.0. Main findings show forecasting accuracy of up to 96% when combining economic and demand information, optimal forecasting period from 10 months to five years, more frequent use of soft indicators in forecasting, the relationship between company’s size and production planning. Four groups of indicators used in financial modeling, such as (I) production-related, (II) customers’ and demand-oriented, (III) industry-specific, and (IV) media information indicators, were separated. The analysis forms a suggestion for decision-makers to pay more attention to the forecasting object identification, indicators’ selection peculiarities, data collection possibilities, and the choice of appropriate methods of financial modeling. AcknowledgmentThis work was partly supported by Project No. 0121U100470 “Sustainable development and resource security: from disruptive technologies to digital transformation of Ukrainian economy”.

scholarly journals FASTEN IIoT: An Open Real-Time Platform for Vertical, Horizontal and End-To-End Integration

Sensors ◽  
2020 ◽  
Vol 20 (19) ◽  
pp. 5499
Author(s):  
Felipe S. Costa ◽  
Silvia M. Nassar ◽  
Sergio Gusmeroli ◽  
Ralph Schultz ◽  
André G. S. Conceição ◽  
...  
Keyword(s):  
Real Time ◽  
Industry 4.0 ◽  
Manufacturing Industry ◽  
Business Models ◽  
Production Systems ◽  
Transformation Process ◽  
Digital Transformation ◽  
Shop Floor ◽  
Decentralized Decision Making ◽  
End To End

The Industry 4.0 paradigm, since its initial conception in Germany in 2011, has extended its scope and adoption to a broader set of technologies. It is being considered as the most vital mechanism in the production systems lifecycle. It is the key element in the digital transformation of manufacturing industry all over the world. This scenario imposes a set of major unprecedented challenges which require to be overcome. In order to enable integration in horizontal, vertical, and end-to-end formats, one of the most critical aspects of this digital transformation process consists of effectively coupling digital integrated service/products business models with additive manufacturing processes. This integration is based upon advanced AI-based tools for decentralized decision-making and for secure and trusted data sharing in the global value. This paper presents the FASTEN IIoT Platform, which targets to provide a flexible, configurable, and open solution. The platform acts as an interface between the shop floor and the industry 4.0 advanced applications and solutions. Examples of these efforts comprise management, forecasting, optimization, and simulation, by harmonizing the heterogeneous characteristics of the data sources involved while meeting real-time requirements.

scholarly journals THE ONLINE SHOPPING HABITS AND E-LOYALTY OF GEN Z AS NATIVES IN THE DIGITAL ERA

2019 ◽  
Vol 34 (2) ◽  
pp. 168 ◽  
Author(s):  
Risca Fitri Ayuni
Keyword(s):  
Service Quality ◽  
Business Model ◽  
Industry 4.0 ◽  
Customer Value ◽  
Business Models ◽  
Business Strategies ◽  
The Internet ◽  
Relationship Of ◽  
Online Shops ◽  
The Relationship

Introduction: Generation Z (Gen Z) refers to the most application-friendly and website-savvy generation engaging with the Internet for most of its daily activities. The number of Gen Z members has been growing and is projected to become the largest market segment by 2020. In the future, Gen Z will affect business strategies; compounded by the presence of a fourth industrial revolution (Industry 4.0), which will encourage companies to change their business models. One of the changes is a new paradigm shift by companies from the traditional business model to an internet-based business model (e-business model/e-commerce), such as online shops. Online shops have escalated at a rapid pace and have changed people’s buying habits, especially for Gen Z. Gen Z seems to be shopping online more than ever. Targeting them is the best strategy to enhance their lifetime loyalty. Background Problem: This study aims to examine the relationship of e-service quality, online customer value, e-satisfaction and e-loyalty. Research Method: Two hundred and forty-one Gen Z respondents were involved in this study. PLS 3, Sobel and SPSS 23 were employed to analyze the data. Five hypotheses were proposed. Findings: The findings indicated that e-service quality became the expected predictor of online customer value and satisfaction. In addition, the results confirm the mediating role of online customer value between e-service quality and e-satisfaction, as well as clarifying the relationship of online customer value and e-satisfaction. Finally, the effect of e-satisfaction on e-loyalty has been proven in this study. Conclusion: Upon figuring out the relevant issue, online shops are able to re-consider their business models to adopt the Industry 4.0 revolution, to strengthen their capacity in tight competition. In order to target Gen Z, who mostly do their purchasing via the Internet, online shops must provide high quality websites and create values which convey economic, social and functional values. These two key factors play significant roles in attaining Gen Z’s e-satisfaction, thus securing Gen Z’s e-loyalty. 

scholarly journals Employee Preparedness for Industry 4.0 in Logistic Sector: A Cross-National Study between Poland and Malaysia

2021 ◽  
Vol 10 (7) ◽  
pp. 258
Author(s):  
Beata Ślusarczyk ◽  
Robert Jeyakumar Nathan ◽  
Paula Pypłacz
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
National Study ◽  
Developed Economies ◽  
New Business ◽  
To Come ◽  
Questionnaire Research ◽  
Cross National Study ◽  
The Relationship ◽  
New Business Models

Today we are witnessing a paradigm shift when it comes to the industry. There are chances that Industry 4.0 does not only involve major changes in production and business solutions, but also the ability of many enterprises (mainly production companies) to come closer to developed economies. This article highlights the aspect of creating new business models that integrate organizations around Industry 4.0 solutions and create new value for the client and internal client. The objective of this study was to demonstrate the relationship between the implementation of selected Industry 4.0 technologies as well as the knowledge and preparation of employees for changes caused by new solutions, e.g., in the area of the automation and robotization of industry or data and information management. The questionnaire research was conducted among 80 logistics companies in Poland and 80 in Malaysia. Based on the obtained data, a statistical analysis was conducted of the relationships between the above-mentioned variables. The analysis concerned: the employees’ knowledge of the Industry 4.0 paradigm, preparing employees for challenges and the implementation of Industry 4.0 technology. The correlation analysis showed the existence of a statistical relationship between the analysed variables. The analysis of quantitative data showed differences between Poland and Malaysia in terms of employee preparation, their knowledge of Industry 4.0 and activities related to the implementation of specific IR4.0 technologies. The presented analysis relates to one of the analysed areas, therefore it is a contribution to further considerations and comparisons.

Analyzing the mediating role of organizational ambidexterity and digital business transformation on industry 4.0 capabilities and sustainable supply chain performance

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Amine Belhadi ◽  
Sachin Kamble ◽  
Angappa Gunasekaran ◽  
Venkatesh Mani
Keyword(s):  
Supply Chain ◽  
Industry 4.0 ◽  
Business Models ◽  
Equation Modeling ◽  
Organizational Ambidexterity ◽  
Combined Effects ◽  
Content Type ◽  
Business Transformation ◽  
Sustainable Performance ◽  
The Relationship

Purpose Despite the growing awareness of supply chains on industry 4.0 (I4.0) capabilities as the enabler of sustainable performance, little is known about what accelerates this interaction. Prior studies have focused on the ambidexterity dilemma and the need to adopt sustainable inter-organizational governance to drive I4.0 capabilities while achieving sustainable performance. To address these issues, this paper aims to explore the distinct and combined effects of several approaches such as digital business transformation (DBT), organizational ambidexterity (OA) and circular business models (CBMs) on the relationship between I4.0 capabilities and sustainable performance. Design/methodology/approach Drawing upon a hybrid methodology including structural equation modeling and fuzzy set qualitative comparative analysis, this paper develops and tests a hypothetical model using data collected from 306 organizations in Europe, Asia and Africa. Findings The study findings lead to several important implications concerning the potential paths linking I4.0 and sustainable performance. Notably, the DBT was found to mediate this relationship by integrating circular principles to devise business models. Moreover, OA was found to substitute the CBMs in developing new sustainable business models and reconcile sustainability. Originality/value The study is among the first to analyze the combined effects of OA, DBT and CBMs on the relationship between I4.0 capabilities and sustainable performance at the supply chain level. Moreover, the findings propose several solutions to resolve the sustainability dilemma through I4.0 capabilities, DBT, OA and CBMs.

scholarly journals Mind Map Research of 5 Years: Financial Modeling and Pro Forma Analysis

2020 ◽  
Vol 2 (1) ◽  
pp. 1-8
Author(s):  
Asri Solihat
Keyword(s):  
Decision Making ◽  
Cash Flow ◽  
Financial Management ◽  
Industry 4.0 ◽  
Industrial Revolution ◽  
Financial Modeling ◽  
Relevant Reference ◽  
The Relationship ◽  
Pro Forma ◽  
Descriptive Method

Abstract- The complexity of the business and financial world in the 4.0 industrial revolution era, making decision making needs to pay attention to financial modeling and pro forma analysis. This research uses descriptive method by reviewing 15 articles about financial modeling and pro forma analysis in the last 5 years. The results of the analysis for 5 years have not shown the relationship between profitability and risky cash flow and its implications for financial modeling and its effect on proforma analysis. Related to further research, designing a model in the figure can be a relevant reference to the development of financial management science of the industrial revolution era 4.0. Abstrak– Kompleksnya dunia bisnis dan keuangan pada era revolusi industry 4.0, membuat pengambilan keputusan perlu memperhatikan financial modeling dan pro forma analysis. Penelitian ini menggunakan metode deskriptif dengan mengkaji 15 artikel tentang financial modeling dan pro forma analysis pada kurun waktu 5 tahun terakhir. Hasil analisis selama 5 tahun belum mengungkapkan hubungan antara profitability dengan cashflow at risk serta implikasinya pada financial modeling dan dampaknya pada proforma analysis. Sehingga dalam penelitian berikutnya, rancangan model pada gambar dapat menjadi rujukan yang relevan dengan perkembangan ilmu manajemen keuangan era revolusi industry 4.0.

Industry 4.0 initiatives in EU countries: experience for Ukraine

2020 ◽  
pp. 65-70
Author(s):  
Nataliya Ryvak ◽  
Anna Kernytska
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
Successful Implementation ◽  
Industrial Complex ◽  
Interconnected System ◽  
Industrial Transformation ◽  
Eu Countries ◽  
European Experience ◽  
High Level

In this paper, digital technologies development was analyzed as the basis for the so-called “fourth industrial revolution” with the potential for the qualitative transformation of the Ukrainian economy based on EU countries’ experience. Industry 4.0 is a new control chain over the entire chain of creating value throughout the product lifecycle. When developing an economic policy, it is important to pay attention to Industry 4.0. It increases productivity, produces new, better, and individualized products, and implements new business models based on “undermining” innovations. A comparative analysis of national initiatives I4.0 with their characteristics according to the main dimensions, including funding, focus, direction, was conducted. Particular attention was paid to considering deterrents to the successful implementation and enforcement of the I4.0 initiative in European countries. The factors of successful implementation of I4.0 initiatives in the EU countries were analyzed. Drawing on the analysis of the European experience of digital transformations in industry and national economies in general, the necessity of critical focus of such transformations in Ukraine was highlighted, and the need for state support of industrial transformation was substantiated. The emphasis was placed on the cooperation development between stakeholders within the implementation of Industry 4.0 – it is necessary to create national and regional 4.0 platforms, following the example of EU countries, which would bring together government institutions, businesses, and academics. The successful positioning of the Ukrainian modern industrial complex on the world markets depends on the high level of the interconnected system providing factors that characterize its development process. Considering the influence of a list of inhibiting factors on implementing the country’s industry accelerated development, a set of measures needed to transform Ukraine’s industry based on European experience was substantiated.

Emerging Industrial Revolution: Symbiosis of Industry 4.0 and Circular Economy: The Role of Universities

2020 ◽  
Vol 25 (3) ◽  
pp. 505-525 ◽  
Author(s):  
Seeram Ramakrishna ◽  
Alfred Ngowi ◽  
Henk De Jager ◽  
Bankole O. Awuzie
Keyword(s):  
Economic Growth ◽  
Circular Economy ◽  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
New Technologies ◽  
Production Systems ◽  
Fourth Industrial Revolution ◽  
New Jobs

Growing consumerism and population worldwide raises concerns about society’s sustainability aspirations. This has led to calls for concerted efforts to shift from the linear economy to a circular economy (CE), which are gaining momentum globally. CE approaches lead to a zero-waste scenario of economic growth and sustainable development. These approaches are based on semi-scientific and empirical concepts with technologies enabling 3Rs (reduce, reuse, recycle) and 6Rs (reuse, recycle, redesign, remanufacture, reduce, recover). Studies estimate that the transition to a CE would save the world in excess of a trillion dollars annually while creating new jobs, business opportunities and economic growth. The emerging industrial revolution will enhance the symbiotic pursuit of new technologies and CE to transform extant production systems and business models for sustainability. This article examines the trends, availability and readiness of fourth industrial revolution (4IR or industry 4.0) technologies (for example, Internet of Things [IoT], artificial intelligence [AI] and nanotechnology) to support and promote CE transitions within the higher education institutional context. Furthermore, it elucidates the role of universities as living laboratories for experimenting the utility of industry 4.0 technologies in driving the shift towards CE futures. The article concludes that universities should play a pivotal role in engendering CE transitions.

scholarly journals Influence of Features on Accuracy of Anomaly Detection for an Energy Trading System

Sensors ◽  
2021 ◽  
Vol 21 (12) ◽  
pp. 4237
Author(s):  
Hoon Ko ◽  
Kwangcheol Rim ◽  
Isabel Praça
Keyword(s):  
Anomaly Detection ◽  
Real Time ◽  
Feature Detection ◽  
Trading System ◽  
Judgment Accuracy ◽  
Energy Trading ◽  
Real Time Processing ◽  
Detection Model ◽  
Time Required ◽  
The Relationship

The biggest problem with conventional anomaly signal detection using features was that it was difficult to use it in real time and it requires processing of network signals. Furthermore, analyzing network signals in real-time required vast amounts of processing for each signal, as each protocol contained various pieces of information. This paper suggests anomaly detection by analyzing the relationship among each feature to the anomaly detection model. The model analyzes the anomaly of network signals based on anomaly feature detection. The selected feature for anomaly detection does not require constant network signal updates and real-time processing of these signals. When the selected features are found in the received signal, the signal is registered as a potential anomaly signal and is then steadily monitored until it is determined as either an anomaly or normal signal. In terms of the results, it determined the anomaly with 99.7% (0.997) accuracy in f(4)(S0) and in case f(4)(REJ) received 11,233 signals with a normal or 171anomaly judgment accuracy of 98.7% (0.987).

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