The benefits of Industry 4.0 on Sustainable Development and Malaysia's Vision

Abstract

This study contributes further to the existing literature on Industry 4.0 and Sustainable Development (SD). This study reviews and summarizes the achievable goals of sustainable development in Malaysia using Industry 4.0. These achievements in utilizing Industry 4.0 relates directly to (1) maintenance, time and cost, (2) machinery stoppages and downtime, (3) inventory involving space and cost and (4) waste that has a relationship to (a) productivity, (b) quality, (c) resource use, (d) new technology and lead time market acceptance. Industry 4.0 does not relate individual by itself nor is a business discipline. Industry 4.0 can be clustered in the new in operational method, way, approach, or medium to represent in creation of a new platform to improved performance. The idea realization and formation of Industrial 4.0 emerged from the advancements and achievements of technology, communications, internet and controls. Industry 4.0 can contribute towards sustainability encouraging sustainable growth in social, environment, and economy contributing effectively towards Agenda 2030's target of people, planet, prosperity, peace, and partnership. This paper contributes towards an extensive review on Industry 4.0 in the context of sustainable development globally and in a developing country, Malaysia. Additionally, this study concludes that the new measurement of performance can benefit and should be viewed from the perspective of sustainable development's pillar of environment, social, and economy by including Industry 4.0 benefits.