Analyzing the Smart Industry Readiness Index in Adopting Industry 4.0 Technologies

Abstract

Industry 4.0 (I4.0) promises that technological advances are happening at an accelerating rate, which is pushing all industries to undergo digital transformation to boost competitiveness, productivity, and business efficiency. As industrial companies transition to Industry 4.0, one of the maturity models that helps them identify opportunities is the Smart Industry Readiness Index (SIRI). SIRI is in line with other international manufacturing initiatives and has the potential to become a global standard for the manufacturing sector’s future. To achieve market competitiveness, smart manufacturing requires the end-to-end integration of Industry 4.0 technologies and SIRI. The successful implementation of such a comprehensive integration depends on carefully selecting the I4.0 technologies to conform to industry requirements. The Influences of I4.0 technologies on SIRI are not clearly outlined in any of the earlier research. Thus, employing a dependable Multi-Criteria Decision Making (MCDM) methodology using fuzzy TOPSIS, this article aims to analyze the influence of Industry 4.0 technologies on SIRI from the perspectives of both academic and industry experts. Expert opinions were gathered on the relationship between SIRI and I4.0 technologies. TOPSIS utilizes fuzzy theory to address the ambiguity and uncertainty inherent in human judgment. The findings showed that the best I4.0 technology for SIRI is the cyber-physical system (CPS).