The Importance of Implementing Cyber Physical Systems to Acquire Real-Time Data and Indicators

Abstract

Among the new trends in technology that have emerged through the Industry 4.0, Cyber Physical Systems (CPS) and Internet of Things (IoT) are crucial for the real-time data acquisition. This data acquisition, together with its transformation in valuable information, are indispensable for the development of real-time indicators. Moreover, real-time indicators provide companies with a competitive advantage over the competition since they enhance the calculus and speed up the decision-making and failure detection. Our research highlights the advantages of real-time data acquisition for supply chains, developing indicators that would be impossible to achieve with traditional systems, improving the accuracy of the existing ones and enhancing the real-time decision-making. Moreover, it brings out the importance of integrating technologies 4.0 in industry, in this case, CPS and IoT, and establishes the main points for a future research agenda of this topic.