The Industrial world is on the Brink of its 4th Revolution of Industry 4.0. Industry 4.0 is ushering the next revolution, where both human and machine talent can be brought together on frictionless platforms, to create new Business Models especially in supply chain sector and unlock new frontiers of efficiency. Huge supply chains are involved in the journey of any product takes from inception, to manufacture and then operation. The 4.0 Industrial Revolution is characterized by the convergence of breakthrough Technologies, such as Robotics, Artificial Intelligence, The Internet of Things, Virtual and augmented reality, wearable’s that are transforming productions processes and Business models across different Industries. The objective of this paper is to analyze the Decision making planning being done in this area of Research and provide future insights on how to design proper planning which will reflect the real life scenario.
V Venkateswara Rao
PACE Institute of Technology and Sciences, India
Industry 4.0, Transforming Production Processes, Business Models | Published By :
ICTACT
Published In :
ICTACT Journal on Management Studies
( Volume: 6 , Issue: 1 )
Date of Publication :
February 2020
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