“Smart Manufacturing” in the Context of Digitalization of Business and Society

Abstract

Purpose: The purpose of this work is reviewing the concept of «smart manufacturing» as part of the development of the concept «Industry 4.0». Methodology/Approaches: An example of the application of intelligent technologies in an enterprise is presented. The distinctive characteristics of «smart manufacturing» are revealed. The statistical characteristics of the digitalization index of business in Russia and other countries are given. It’s proved that the digitalization level of Russian companies is still at a rather low level and isn’t ready for the implementation of «smart manufacturing». The advantages and disadvantages of smart technologies are shown. Conclusions: A smart manufacturing approach has many benefits, including long-term savings, increased efficiency and productivity. The main disadvantages of «smart technologies» are the high initial investments and the technological complexity of automated systems. The prospects, problems and economic effects of the introduction of digital innovations, such as: revenue growth, cost reduction, lower labor costs for middle managers, increased investment in fixed assets were identified. Thus, we can conclude that «smart manufacturing» completely changes the vector of development of production as a whole and is aimed at creating a more interconnected and flexible production environment.