DEVELOPMENT OF INDUSTRY 4.0 BASED TECHNOLOGY SELECTION INDEX USING MULTI CRITERIA DECISION MAKING

Abstract

Selecting an appropriate technology to perform a specific operation has always been an uphill task while setting up a new industry. There exist a large number of decision making challenges, while selecting a technology related to industry 4.0 in a manufacturing environment, as it augments the analysis of various technological elements, which are otherwise not considered in traditional manufacturing systems. The analysis of attributes is a holistic exercise, which needs understanding the co-relationship among the identified attributes from industry 4.0 perspective (i.e., data analysis, cloud, IIoT, real time data monitoring, sensors, etc). In this research paper, an effort has been made to address the issue of selecting appropriate technology using graph theory based multi criteria decision making approach in industry 4.0 environment. The proposed methodology has been applied to two case studies. The first case study is for illustration purpose. However, to validate the concept, the second case study has been included for the benefit of readers.