Cyber-physical production systems in industry 4.0: Smart factory performance, innovation-driven manufacturing process innovation, and sustainable supply chain networks

Abstract

I develop a conceptual framework based on a systematic and comprehensive literature review on cyber-physical production systems in Industry 4.0. Building my argument by drawing on data collected from Forrester Consulting, McKinsey, Ovum, PwC, and Statista, I performed analyses and made estimates regarding organizations’ level of reliance on automation, machine learning and artificial intelligence (%), top Internet of Things drivers (%), activities required to manage the digital thread (%), and the importance of organizations’ current or planned Internet of Things initiatives to their business priorities (%). The data for this research were gathered via an online survey questionnaire and were analyzed through structural equation modeling on a sample of 4,200 respondents.