Industry 4.0, transforming incomplete systems into complete networks through collaboration

Kamphuis, T.G.M. (2017) Industry 4.0, transforming incomplete systems into complete networks through collaboration.

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Abstract:Originally the interest in Industry 4.0 started in Germany, but now Industry 4.0 has reached international interest and acknowledgement as a field of research. There are many areas to be explored and because of the high potential economic benefits of Industry 4.0 this has become a more popular topic. As of yet, many applications or systems are incomplete and this research will conclude what is needed to make complete Industry 4.0 networks. This research takes into account existing literature as well as views by companies involved in Industry 4.0. This research also looks at how markets will shift towards information-oriented markets due to the implementation of Industry 4.0 networks and how companies may adapt to market changes. Furthermore, due to the high level of automated processes which require less human interaction, technology could take over human’s tasks in the manufacturing industry. This will create opportunities to save cost and increase efficiency, but might cause the destruction of jobs. This research concludes that businesses can collaborate to make Industry 4.0 systems complete and as such establish Industry 4.0 networks. This collaboration will be realised in financial aspects, as well as organisational aspects.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:International Business Administration BSc (50952)
Link to this item:http://purl.utwente.nl/essays/72444
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