2017
DOI: 10.1007/s12652-017-0533-1
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Industry 4.0 framework for management and operations: a review

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Cited by 219 publications
(165 citation statements)
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“…1) The authors of the concept state that data would attain a higher importance in the economy than hydrocarbons. They use the term a «data-driven» economy when describing this new stage of economic development [7,8,9].…”
Section: Literature Overviewmentioning
confidence: 99%
“…1) The authors of the concept state that data would attain a higher importance in the economy than hydrocarbons. They use the term a «data-driven» economy when describing this new stage of economic development [7,8,9].…”
Section: Literature Overviewmentioning
confidence: 99%
“…Germany focuses on creating new values that have not been seen before and resolving various social problems by linking the things inside and outside the manufacturing environments, but also on construction of a new business models for predictive manufacturing systems [29]. In the USA the research and development programs are related to predictive manufacturing with accent on key technology assignments, including data mining, big data analytics, intelligent systems along with IoT and CPS [3].…”
Section: Trendsmentioning
confidence: 99%
“…The entire present manufacturing systems is transformed into predictive manufacturing systems with the "self-aware", "self-predict", "self-maintain" and "self-learning" abilities which allow that decisions are going to be made autonomously [29]. According to Lee et al [5] and Ferreiro et al [30], in contrary to the conventional systems which are in use today, predictive manufacturing systems improve the performance of the equipment and strengthen the business model of industry, with the help of a set of intelligent sensing, predictive analytics and network techniques.…”
Section: Benefitsmentioning
confidence: 99%
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“…From the point of view related to managerial implications (Piccarozzi, Aquilani and Gatti, 2018), the concept and strategy of Industry 4.0 should be implemented regarding to sustainability issues and the application of such strategies could improve sustainable social welfare growth. In another review conducted by Saucedo-Martínez et al (2018), it was stated that Industry 4.0 environment should be included in company in two areas, both socio-technical area and physical objects virtualization. Industry 4.0 is still emerging in research field, but the results from past research are strongly encouraging the incorporation of selected methods in managerial practice (Schneider, 2018).…”
Section: Introductionmentioning
confidence: 99%