The Benefits of Using Industry 4.0 in the Manufacturing Sector

Abstract

In this era of digitization, business organizations are trying to use and implement different types and levels of automation techniques for improving their efficiency and effectiveness. In this research, the researcher aims to highlight the benefits of using Fourth Industrial Revolution framework of technologies, specifically the Internet of Things (IoT) and their enabling components, in the manufacturing sector. Industry 4.0 is a combination of IoT based information sharing systems and physical computerization systems (jointly constituting the cyber-physical systems) that can help in collecting and reviewing real-time information related to the end-to-end supply chain of an organization between the starting supply point upstream and the end customers downstream. The study employs mixed methods of research for collecting, processing, and analyzing data collected from 60 employees and technicians of sampled manufacturing companies. The findings of the study suggest that employing Industry 4.0 framework may lead to an increase in productivity, improve the supply chain performance, and increase the speed of sharing information. The study recommends implementing Fourth Industrial Revolution technologies for manufacturing companies to improve and develop the total value chain, production, and cost effectiveness.