Purpose
The objective of this paper is to understand the readiness of Industry 4.0 technologies in ASIAN
MSMEs, their current perceived application, understand the initiatives of Asian government bodies in endorsing the implementation of Industry 4.0 in MSMEs of respective countries, to discuss the key challenges tackled by MSMEs who want to set up Industry 4.0 based smart factories and to highlight the measures being taken to speed up the implementation of Industry 4.0.
Design/Methodology/Approach
This paper is based on critical review of literature and original qualitative questionnaire based survey of expert professionals working in MSMEs, Government policy makers, subject matter experts
Findings
Governments in Asian countries have initiated policy measures to give focused direction for adoption of Industry 4.0 in MSMEs of respective countries. Our analysis reflects that Singapore, Japan and South Korea are potential world leaders of Industry 4.0, considering their strong position in technology and innovation. Other Asian countries need to take necessary measures to build human capabilities to manage technology and creating a climate within which innovation, scientific temper and technology flourishes.
Research limitations/implications
The work done in this report is qualitative in nature and further research can validate its findings by quantitative methods; leading to the development of a globally accepted maturity model for implementation of Industry 4.0 in MSMEs
Practical implications
The future will be dominated by companies that quickly transform current businesses to Industry 4.0 smart manufacturing and supply smart products and services across the world markets. The challenges and proposed measures identified in the report will support policy makers, researchers, academicians and practitioners for the development of strategic plans to accelerate the implementation of Industry 4.0.
Originality/Value
The work done in Industry 4.0 till now is mostly conceptual in nature. This study is amongst the few pioneering works that has mapped the current status, associated challenges and proposals to accelerate the implementation of Industry 4.0 in Asian countries.
Purpose
The objective of this paper is to understand the readiness of Industry 4.0 technologies in ASIAN
MSMEs, their current perceived application, understand the initiatives of Asian government bodies in endorsing the implementation of Industry 4.0 in MSMEs of respective countries, to discuss the key challenges tackled by MSMEs who want to set up Industry 4.0 based smart factories and to highlight the measures being taken to speed up the implementation of Industry 4.0.
Design/Methodology/Approach
This paper is based on critical review of literature and original qualitative questionnaire based survey of expert professionals working in MSMEs, Government policy makers, subject matter experts
Findings
Governments in Asian countries have initiated policy measures to give focused direction for adoption of Industry 4.0 in MSMEs of respective countries. Our analysis reflects that Singapore, Japan and South Korea are potential world leaders of Industry 4.0, considering their strong position in technology and innovation. Other Asian countries need to take necessary measures to build human capabilities to manage technology and creating a climate within which innovation, scientific temper and technology flourishes.
Research limitations/implications
The work done in this report is qualitative in nature and further research can validate its findings by quantitative methods; leading to the development of a globally accepted maturity model for implementation of Industry 4.0 in MSMEs
Practical implications
The future will be dominated by companies that quickly transform current businesses to Industry 4.0 smart manufacturing and supply smart products and services across the world markets. The challenges and proposed measures identified in the report will support policy makers, researchers, academicians and practitioners for the development of strategic plans to accelerate the implementation of Industry 4.0.
Originality/Value
The work done in Industry 4.0 till now is mostly conceptual in nature. This study is amongst the few pioneering works that has mapped the current status, associated challenges and proposals to accelerate the implementation of Industry 4.0 in Asian countries.