An Investigation of Industry 4_0 Implementation Factors Its Impact on Contemporary Practices and Associated Risks

Abstract

This research aims to outline the key factors responsible for Industry 4.0 (I4.0) application in industries and its impact on contemporary practices, and associated risks. This work aims to identify, validate, and classify key factors for implementing I4.0 in manufacturing sector by expert survey and analysis of findings by principal component analysis, cluster analysis, and Item analysis. Further, the perception of expert feedback on the significance of I4.0 on contemporary practices and associated risks was evaluated using analysis of variance and the Fuzzy analytic hierarchy (AHP) process. This study would shed light on thirteen critical factors and forty-nine sub-factors for implementing I4.0 through an I4.0 factor stratification model. Further, it evaluates the influence of I4.0 on contemporary practices like lean, advanced product quality and planning, sustainability, circular economy. The thesis also attempts to identify the risks associated and prioritize them for the effective implementation of I4.0 in the manufacturing sector. newlineThe proposed I4.0 factor stratification model, its significance on contemporary practices will act as a reference point for adoption of I4.0 in manufacturing. The I4.0 implementation factors and associated risks identified and validated in this study will guide industry leaders, researchers, and practitioners working on the digital transformation of the respective industries towards I4.0. Most of the contemporary research on I4.0, its factor, significance, and associated risks is conceptual, lack comprehensiveness and rigor in terms of scientific testing and validation. The novelty of this work lies in an expert-based investigation to propose conceptual models of I4.0 factors, their significance, and mind mapping experts feedback on I4.0 implementation risks from a manufacturing point of view. This study is heavily dependent on the feedback of experts of large-scale organizations, as I4.0 technologies are yet to reach a mature level of execution in small and MSI.