scholarly journals INTERNET OF THINGS IN THE CONTEXT OF INDUSTRY 4.0: AN OVERVIEW

2019 ◽  
Vol 7 (1) ◽  
Author(s):  
Georgios Lampropoulos ◽  
Kerstin Siakas ◽  
Theofylaktos Anastasiadis
Keyword(s):  
Internet Of Things ◽  
Industry 4.0 ◽  
Industrial Revolution ◽  
Life Quality ◽  
Intelligent Manufacturing ◽  
Global Network ◽  
Research Issues ◽  
Digital World ◽  
Physical Assets ◽  
The Impact

Due to successive technological advancements, developments and innovations, the global industrial landscape has drastically transformed over the last years. The fourth industrial revolution (Industry 4.0) aims at transforming traditional industries into intelligent ones by incorporating innovative technologies. Industry 4.0 enables physical assets to be integrated into intertwined digital and physical processes thus creating smart factories and intelligent manufacturing environments. Internet of Things (IoT) is a rapidly growing technology that has drastically contributed to the Industry 4.0 realization. IoT pursues to pervade our everyday environment and its objects, linking the physical to the digital world and allowing people and “things” to be connected anytime, anywhere, with anything and anyone ideally using any network and service. IoT is regarded as a dynamic and global network of interconnected “things” uniquely addressable, based on standard and interoperable communication protocols and with self-configuring capabilities. Despite still being at an early development, adoption and implementation stage, Industry 4.0 and IoT can provide a multitude of contemporary solutions, applications and services. Hence, they can improve life quality and yield significant personal, professional and economic opportunities and benefits in the near future. This study scrutinizes IoT in the Industry 4.0 context. More specifically, it presents related studies, describes the IoT concept and explores some of the numerous IoT application domains. Moreover, it presents and analyzes the concept of Industry 4.0 and the benefits it offers as well as the relevant key technologies (e.g. industrial internet of things (IIoT), cyber-physical systems (CPSs), cloud computing, big data and advanced data analytics). Furthermore, it describes the concept of intelligent manufacturing and highlights the main IoT and Industry 4.0 challenges and open research issues. Finally, the need for innovation in the industrial domain and the impact and benefits that IoT and Industry 4.0 provide to everyday life and industries is described.

scholarly journals Internet of Things in the Context of Industry 4.0: An Overview

2019 ◽  
Vol 7 (1) ◽  
pp. 4-19 ◽  
Author(s):  
Georgios Lampropoulos ◽  
Kerstin Siakas ◽  
Theofylaktos Anastasiadis
Keyword(s):  
Internet Of Things ◽  
Industry 4.0 ◽  
Industrial Revolution ◽  
Life Quality ◽  
Intelligent Manufacturing ◽  
Global Network ◽  
Research Issues ◽  
Digital World ◽  
Physical Assets ◽  
The Impact

Abstract Due to successive technological advancements, developments and innovations, the global industrial landscape has drastically transformed over the last years. The fourth industrial revolution (Industry 4.0) aims at transforming traditional industries into intelligent ones by incorporating innovative technologies. Industry 4.0 enables physical assets to be integrated into intertwined digital and physical processes thus creating smart factories and intelligent manufacturing environments. Internet of Things (IoT) is a rapidly growing technology that has drastically contributed to the Industry 4.0 realization. IoT pursues to pervade our everyday environment and its objects, linking the physical to the digital world and allowing people and “things” to be connected anytime, anywhere, with anything and anyone ideally using any network and service. IoT is regarded as a dynamic and global network of interconnected “things” uniquely addressable, based on standard and interoperable communication protocols and with self-configuring capabilities. Despite still being at an early development, adoption and implementation stage, Industry 4.0 and IoT can provide a multitude of contemporary solutions, applications and services. Hence, they can improve life quality and yield significant personal, professional and economic opportunities and benefits in the near future. This study scrutinizes IoT in the Industry 4.0 context. More specifically, it presents related studies, describes the IoT concept and explores some of the numerous IoT application domains. Moreover, it presents and analyzes the concept of Industry 4.0 and the benefits it offers as well as the relevant key technologies (e.g. industrial internet of things (IIoT), cyber-physical systems (CPSs), cloud computing, big data and advanced data analytics). Furthermore, it describes the concept of intelligent manufacturing and highlights the main IoT and Industry 4.0 challenges and open research issues. Finally, the need for innovation in the industrial domain and the impact and benefits that IoT and Industry 4.0 provide to everyday life and industries is described.

Augmented Reality in the Context of Automotive Manufacturing

2020 ◽  
pp. 95-110
Author(s):  
Gisela Pires Garcia
Keyword(s):  
Virtual Reality ◽  
Augmented Reality ◽  
Internet Of Things ◽  
Industry 4.0 ◽  
Large Scale ◽  
Industrial Revolution ◽  
Shop Floor ◽  
New Work ◽  
Automotive Manufacturing ◽  
Digital World

The 4th industrial revolution based on the digitization of industrial processes, on the connection of the equipment between them, and on new interfaces with the humans, will require new work contexts and new organizations (Cyber-Physical System and Internet of Things). Virtual Reality (VR) and Augmented Reality (AR) will contribute in a large scale for the automotive industry transition to the Industry 4.0 paradigm. This chapter provides an overview of these versatile technologies in the context of industrial production, where these technologies will allow the real world of the shop floor to merge with a digital world of simulations, predictions, and automation.

A case study: How did IoT start-up Distronix change its business model to sustain growth in the pay-per-use economy

2021 ◽  
pp. 204388692098158
Author(s):  
Dipankar Chakrabarti ◽  
Rohit Kumar ◽  
Soumya Sarkar ◽  
Arindam Mukherjee
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Industry 4.0 ◽  
Industrial Revolution ◽  
Project Delivery ◽  
Public Cloud ◽  
Industrial Internet Of Things ◽  
Start Up ◽  
Industrial Internet ◽  
Fixed Fee

Industrial Internet of Things emerged as one of the major technologies enabling Industry 4.0 for industries. Multiple start-ups started working in the Industrial Internet of Things field to support this new industrial revolution. Distronix, one such Industrial Internet of Things start-up of India, started operations in 2014, when companies were not even aware of Industrial Internet of Things. Distronix started executing fixed-fee projects for implementation of Industrial Internet of Things. They also started manufacturing sensors to support large customers end-to-end in their Industry 4.0 journey. With the advent of public cloud, companies started demanding pay-per-use model for the solution Distronix provided. This posed a major challenge to Distronix as they had developed technology skills focusing fixed-fee customized project delivery for their clients. The situation demanded that they change their business model from individual project delivery to creation of product sand-box with pre-registered sensors and pre-defined visualization layer to support use cases for Industrial Internet of Things implementation in multiple industry sectors. It forced Rohit Sarkar, the 26 years old entrepreneur and owner of Distronix, to upgrade capabilities of his employees and transform the business model to support pay-per-use economy popularized by public cloud providers. The case discusses the challenges Rohit faced to revamp their business model in such an emerging technology field, like, to develop new skills of the technical people to support such novel initiative, reorienting sales people towards pay as use model, developing new concept of plug and play modular product, devising innovative pricing, better alliance strategy and finding out a super early adopter.

scholarly journals Effects of Industry 4.0 on the Labor Markets of Iran and Japan

Economies ◽  
2018 ◽  
Vol 6 (3) ◽  
pp. 39 ◽  
Author(s):  
Majid Ziaei Nafchi ◽  
Hana Mohelská
Keyword(s):  
Labor Markets ◽  
Industry 4.0 ◽  
Industrial Revolution ◽  
Developed Countries ◽  
Cyber Physical Systems ◽  
Physical Systems ◽  
Science Technology ◽  
Levels Of Automation ◽  
Technology And Economy ◽  
The Impact

Industry 4.0 is the essence of the fourth Industrial revolution and is happening right now in manufacturing by using cyber-physical systems (CPS) to reach high levels of automation. Industry 4.0 is especially beneficial in highly developed countries in terms of competitive advantage, but causes unemployment because of high levels of automation. The aim of this paper is to find out if the impact of adopting Industry 4.0 on the labor markets of Iran and Japan would be the same, and to make analysis to find out whether this change is possible for Iran and Japan with their current infrastructures, economy, and policies. With the present situation of Iran in science, technology, and economy, it will be years before Iran could, or better say should, implement Industry 4.0. Japan is able to adopt Industry 4.0 much earlier than Iran and with less challenges ahead; this does not mean that the Japanese labor market would not be affected by this change but it means that those effects would not cause as many difficulties as they would for Iran.

scholarly journals THE IMPACT OF THE COVID-19 PANDEMIC ON INDUSTRY 4.0 IN THE CONTEXT OF GLOBAL ECONOMIC DEVELOPMENT

InterConf ◽  
2021 ◽  
pp. 54-59
Author(s):  
Bohdana Hunko
Keyword(s):  
Economic Development ◽  
Industry 4.0 ◽  
Global Economy ◽  
Industrial Revolution ◽  
Negative Consequences ◽  
Negative Effects ◽  
Technology Industry ◽  
World Economic ◽  
The Impact

The paper analyzes the role of Industry 4.0 in the process of overcoming the global economy from the crisis situation associated with the total Covid-19 pandemic. The aspect of economic profitability of using the technologies of the fourth industrial revolution to improve world economic development in the context of the Covid-19 pandemic was also identified. The author identified the positive and negative consequences of the involvement of technology Industry 4.0, on the basis of which a number of recommendations for small and medium-sized businesses were formed in order to quickly overcome the negative effects of the crisis. Based on the work, the author formulated a number of trends and prospects for global economic development, taking into account the current conditions of the Covid-19 pandemic.

Procurement 4.0: factors influencing the digitisation of procurement and supply chains

2018 ◽  
Vol 24 (4) ◽  
pp. 965-984 ◽  
Author(s):  
Florian Bienhaus ◽  
Abubaker Haddud
Keyword(s):  
Supply Chains ◽  
Industry 4.0 ◽  
Online Survey ◽  
Business Models ◽  
Industrial Revolution ◽  
Primary Data ◽  
Content Type ◽  
Procurement Process ◽  
Enabling Technologies ◽  
The Impact

Purpose While digitisation is a key driver of the fourth industrial revolution (Industry 4.0); organisations have different approaches to deal with this topic to get a clearer picture of the opportunities and challenges concerning the digital transformation. The purpose of this paper is to identify the impact of digitisation on procurement and its role within the area of supply chain management. The research will also explore potential barriers to digitising procurement and supply chains and ways to overcome them. Finally, the significance of potential enabling technologies to the digitisation will also be examined. Design/methodology/approach A quantitative approached utilising an online survey was used to collect the primary data for this study. Data were collected from 414 participants directly involved with procurement or related business functions and work for different organisations in different industries. The survey included eight items about the impact of digitisation on organisational performance in the area of procurement and supply chains; ten items related to key barriers to digitisation of organisations and ways to overcome them; and seven items about enabling technologies to leverage procurement procedures and processes digitisation. All of these items utilised the Likert five-point level of agreement scale. Findings The findings indicate that digitisation of procurement process can yield several benefits including: supporting daily business and administrative tasks, supporting complex decision-making processes, procurement will become more focussed on strategic decisions and activities, procurement will become a strategic interface to support organisational efficiency, effectiveness, and profitability, and supporting the creation of new business models, products, and services. The authors were also able to confirm that there are barriers to digitising procurement process and supply chains and such barriers found in existing procedures, processes, capacities, and capabilities. Finally, the significance of a number of enabling technologies to the digitisation process was revealed. Originality/value To the best of the authors’ knowledge, this is the first study of its kind with participants located world-wide. Industry 4.0 as a topic had been explored within different business areas and functions but very limited research specifically explored potential impact, barriers, and enabling technologies of procurement 4.0. The results can be beneficial for organisations already implemented Industry 4.0 or planning to do so. The study can also benefit academic scholars interested in the researched topic, business professionals, organisations within different sectors, and any other party interested in understanding more the concept of procurement 4.0.

The Impact of Cryptocurrencies on the General Powers and Duties of South African Insolvency Practitioners

2021 ◽  
Vol 33 (2) ◽  
pp. 289-318
Author(s):  
Sidasha Singh ◽  
Juanitta Calitz
Keyword(s):  
South African ◽  
Industry 4.0 ◽  
Industrial Revolution ◽  
Insolvency Law ◽  
International Courts ◽  
Fourth Industrial Revolution ◽  
Legal Position ◽  
The Subject ◽  
Regulatory Model ◽  
The Impact

Within the context of the fourth industrial revolution, cryptocurrencies pose several challenges in the framework of corporate insolvency law. In South African law, no statutory framework vis-à-vis cryptocurrencies, such as Bitcoin, currently exists. This has however not prevented entities from engaging in the cryptocurrency market. The specific dilemma is that insolvency practitioners do not have legislative guidelines to assist them in dealing with the subject of cryptocurrencies. Consequently, international judicial developments must be consulted and analysed with the aim to close the gap between the legislature and Industry 4.0. This article unpacks the South African legal position on cryptocurrencies within the context of the statutory powers and duties of insolvency practitioners. It engages in an analysis of selected international courts cases that have dealt with the concept of cryptocurrencies within the context of insolvent estates and continues to make recommendations for the development of an efficient and effective regulatory model.

Industry 4.0 and the Internet of Things (IoT)

2020 ◽  
pp. 1-24
Author(s):  
Zelal Gültekin Kutlu
Keyword(s):  
Internet Of Things ◽  
Industry 4.0 ◽  
Information Technologies ◽  
Industrial Revolution ◽  
The Internet ◽  
Automation Systems ◽  
Technological Developments ◽  
Use Of The Internet ◽  
Internet Networks ◽  
The Internet Of Things

In this study, the periodical differences of industrial revolutions, which is one of the effects of technological developments in the industrial field, and the last stage of it are mentioned. With the latest industrial revolution called Industry 4.0, machines work in harmony with technology at every stage of industrial areas. This period, known as Industry 4.0 or the fourth industrial revolution, refers to the system in which the latest production technologies, automation systems, and the technologies that make up this system exchange data with each other. In addition to the information technologies and automation systems used in Industry 3.0, industrial production has gained a whole new dimension with the use of the internet. With internet networks, machines, operators, and robots now work in harmony. At this point, the concept of internet of objects becomes important. Therefore, another focus of the study is the concept of internet of objects. There are some assumptions about the uses, benefits, and future status of the internet of things.

Industry 4.0 and Sustainability

2020 ◽  
pp. 67-84
Author(s):  
Sibel Yildiz Çankaya ◽  
Bülent Sezen
Keyword(s):  
Sustainable Development ◽  
Global Warming ◽  
Natural Resources ◽  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
New Business ◽  
The Impact ◽  
Industrial Revolutions ◽  
New Business Models

Modern industry developed over several centuries and three industrial revolutions. Today, we experience the fourth era of the industrial revolution, Industry 4.0. The advance of industrialization brought along many problems, including environmental pollution, global warming, and depletion of natural resources. As a result, the concept of sustainability began to gain importance. Sustainability can be achieved through a balance between economic, social, and environmental processes. In order to establish such balance, businesses need new business models or insights. At this point, Industry 4.0 can be regarded as a new business mindset that will help businesses and communities move towards sustainable development. The technologies used by Industry 4.0 bear a strong promise to solve these problems, after all. Even though Industry 4.0 attracts a lot of attention lately, few works are available on its impact on sustainability. This chapter examines the impact of Industry 4.0 on sustainability.

A Model for Success in Agribusiness in the Portuguese Context

2021 ◽  
pp. 355-371
Author(s):  
Carla Sofia Vicente Negrão
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
Holistic Approach ◽  
Theoretical Framework ◽  
Technological Advance ◽  
Three Dimensions ◽  
Business Success ◽  
Explanatory Variables ◽  
And Performance ◽  
The Impact

In an increasingly digital environment that results in the technological advance of the fourth Industrial Revolution, it becomes interesting to understand the agribusiness success in a digital economy. The purpose of this chapter is to develop a theoretical framework for agribusiness success in Industry 4.0, so that future empirical research could be carried out. The research uses a literature review based on business success. First, it is essential to explore business success and then its determinants. Based on a holistic approach, a new conceptual model for agribusiness success is developed in three dimensions: growth, productivity, and performance, whether enterprises use e-business or not. The researcher suggests the impact of e-commerce, internationalization, strategic alignment, and managers characteristics as explanatory variables of the agribusiness success. The theoretical framework provides a different way forward for both managers and business advisors about what are the agribusiness success and those factors that may explain it.

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