| Industry 4.0,a concept initiated by the Germany,is based on CPS,or Cyber Physical System,that links real objects with information or virtual objects together(Bunse,et.al,2016).Its key factor is through automation and the Internet of Things.By connecting machines,raw materials,and products through the Internet of Things,Industry 4.0 will result to an intelligent factory or smart manufacturing that have a highly flexible and efficient,resource friendly mass production.After the this concept was introduced as the next revolution in industrialization,many firms have begun to invest in Industry 4.0 because they believe it would help them succeed in the markets with increasing higher customer requirements.The reason behind this research is that Industry 4.0 will be a game changer for manufacturing sectors,therefore the goal of this paper is to find,how automation(Industry 4.0)revolutionized the manufacturing processes.The major problems we seek to address are to find out whether or not organization's are better off with adopting automation and whether or not the organization's performance increases after adopting automation.In order to answer the questions,several management theories such as technological unemployment,lead manufacturing,lean manufacturing,and six sigma,will be explained and it will be analyzed together with several case study and an interview with co-owner of a manufacturing company.In conclusion,it can be said that Industry 4.0,even though requires a high initial financial investment,is beneficial for manufacturing companies as it will bring costs reductions in the longrun and will increase revenue as it allows companies to become more flexible and have the ability to mass-customize products that matches the customers' wants. |
PDF Full Text Request