Industry 4.0: The Need for Rethink Strategic Planning

Abstract

The new Industry 4.0 concept causes many challenges for modern industrial enterprises. New technical and technological solutions require the selection and purchase of modern machines, devices, and software, which generated high costs. At the same time, their economic use is fast with such dynamic technical and technological development. Thus, there is a fundamental question about the need for a completely new approach to cost measurement, planning, budgeting, and overall business management. The costs must be constantly monitored and controlled. The indirect costs of the enterprise increase significantly and the role of depreciation costs in the total costs of the enterprise increases. Cost measurement requires new methods adapted to the changing reality. This chapter presents the results of research on the aspects of business management related to the implementation of the Industry 4.0 concept in industrial enterprises. The aim of the research was to build a new procedure of the implementation of the concept Industry 4.0 based on the most important problems of an implementation process and main areas of needed, identified changes.