Track: Supply Chain and Logisitcs Competition

Abstract

In 2011, the German government introduced "Industry 4.0" as part of its high-tech strategy to maintain the competitiveness of the country's manufacturing sector and meet new challenges. This fourth industrial revolution relies on the Internet of Things (IoT), new technological advancements, real-time data transmission between products, customers, and manufacturing facilities, and blending virtual and physical worlds. End-to-end engineering and the integration of information and communication technologies are seen as fundamental ideas and significant advancements in Industry 4.0. While the business sector plays a vital role in economic growth, the introduction of new technology and increased product and production complexity impact industrial companies and their workers. Critics of Industry 4.0 emphasize its technocratic emphasis on digitalization and new technology, despite its potential to increase economic values, competitiveness, productivity, and revenue growth. The integration of Industry 4.0 impacts all corporate operations, from purchasing and production to customer management, causing significant changes in processes, communication, and relationships. Industry 4.0 introduces uncertainties, hazards, feedback cycles, and dynamics that pose challenges to modern production and logistics systems, supply chains, and Industry 4.0 networks. This study critically examines current applications and classifications of Industry 4.0 and proposes potential directions for future research. Interdisciplinary supply chain optimization methodologies need to continue to evolve, and collaboration between supply chain specialists and control engineers could increase the realism of dynamic planning and modeling, as well as the efficiency of supply chains, Industry 4.0 networks, and production and logistics systems. Finally, this study examines developments in digital supply chain management and the trend toward the intellectualization of Industry 4.0.