Potential Model - Methodical Evaluation of Industry 4.0 Technologies

Abstract

With regard to the currently perceptible technological, social and economic change, also known as the “Fourth Industrial Revolution” or “Internet of Things”, small and medium-sized enterprises (SMEs) in particular are confronted with various obstacles in their attempt of keeping pace. For example, there is a lack of orientation of which I4.0 technology is suitable for a target-oriented application. Furthermore, the actual or potential effects of I4.0 can only be estimated insufficiently and SMEs are at a disadvantage compared to large companies due to lower monetary and personnel capacities. In this publication these obstacles on the way to become an I4.0 company are taken up and the core elements of a methodical solution approach in the form of the “Potential Model” are explained in detail. Thereby the Potential Model is intended to support SMES at the rough-quantitative evaluation of I4.0 and the development of I4.0 implementation strategies with minimal monetary and time-related efforts needed.