ISSN

2321-5763 (Online)
0976-495X (Print)


Author(s): Rohit Nandkishor Kenge, Zafar Khan

Email(s): rohit.kenge@gmail.com

DOI: 10.52711/2321-5763.2021.00027   

Address: Rohit Nandkishor Kenge, Dr. Zafar Khan
Sandip University, Nasik, MS India.
*Corresponding Author

Published In:   Volume - 12,      Issue - 2,     Year - 2021


ABSTRACT:
The manufacturing world had undergone four separate industrial revolts. Industry 4.0 is a most recent chapter in the Industrial revolt story that pivoted mainly on manufacturing automation, live data capturing, smart machines, and internet connectivity with key objectives of productivity rise, optimization of available working hours, and increased organization competitiveness. This research paper studies the industry 4.0 through the survey of available literature in a sequential manner that started with understanding the development of the manufacturing industry from industry 1.0 to industry 4.0, the nine key foundation blocks of the industry 4.0, the cyber-physical systems, the Smart factory concept, industry 4.0 application strategy guide step by step, Industry 4.0 benefits, risk, and challenges. We applied the Industry 4.0 concept step by step as a pilot project as per the Industry 4.0 application strategy guide at the bus bar trunking production factory with the target of delivering the demand of customers within committed or shorter lead time from the bus bar manufacturing shop and discussed the outcomes briefly. We concluded that Industry 4.0 helps to improve operator work-life, overall productivity, and to reduce the operating cost of production drastically in mass manufacturing processes. Industry 4.0 is also a boon in today’s changing work culture after the CORONA pandemic through its core concepts of digitization, paperless work, networking, and maximum internet usage. It also guides to adopt automation and smart machines that are communicating in real-time with its customer. We also observed that its application is costly in terms of investment to deploy for small or middle scale manufacturing plants, but they shall implement partly to get the benefit from it.


Cite this article:
Rohit Nandkishor Kenge, Zafar Khan. Industry 4.0 latest Trends and it's Application. Asian Journal of Management. 2021; 12(2):181-5 doi: 10.52711/2321-5763.2021.00027

Cite(Electronic):
Rohit Nandkishor Kenge, Zafar Khan. Industry 4.0 latest Trends and it's Application. Asian Journal of Management. 2021; 12(2):181-5 doi: 10.52711/2321-5763.2021.00027   Available on: https://ajmjournal.com/AbstractView.aspx?PID=2021-12-2-14


REFERENCES:
1.    BCG. (2020). Embracing industry 4.0 rediscovering growth. Retrieved from https://www.bcg.com/en-in/capabilities/ operations/embracing-industry-4.0-rediscovering-growth.aspx
2.    Epicor. (2020). what is Industry 4.0? Retrieved from https://www.epicor.com/en-in/resource-center/articles/what-is-industry-4-0/
3.    Bernard Mar. (2018, September 2). What is industry 4.0 here’s a super easy explanation for anyone. Forbes. Retrieved from https://www.forbes.com/sites/bernardmarr/2018/09/02/what-is-industry-4-0-heres-a-super-easy-explanation-for-anyone/#2ec5353c9788
4.    I-scoop. (2020) Industry 4.0. Retrieved from https://www.i-scoop.eu/industry-4-0/

Recomonded Articles:

Author(s): Vinod N. Sayankar

DOI: 10.5958/2321-5763.2015.00006.2         Access: Open Access Read More

Author(s): P. Vakula Kumari, S.V.S. Chauhan

DOI:         Access: Open Access Read More

Author(s): A. V. Nageswara, Dasarathi Sahu

DOI: 10.5958/2321-5763.2017.00035.X         Access: Open Access Read More

Author(s): Manoj Kumar Kowar

DOI:         Access: Open Access Read More

Author(s): P. Naresh Kumar, V. V. Narsi Reddy

DOI: 10.5958/2321-5763.2018.00105.1         Access: Open Access Read More

Author(s): S Renuka, G P Dinesh

DOI: 10.5958/2321-5763.2018.00185.3         Access: Open Access Read More

Author(s): A.V. Nageswara Rao, V. Krishna Mohan

DOI:         Access: Open Access Read More

Author(s): K. Venkat Janardhan Rao, Kotha Anil Kumar

DOI: 10.5958/2321-5763.2018.00213.5         Access: Open Access Read More

Author(s): Rohit Nandkishor Kenge, Zafar Khan

DOI: 10.52711/2321-5763.2021.00027         Access: Closed Access Read More

Asian Journal of Management (AJM) is an international, peer-reviewed journal, devoted to managerial sciences. The aim of AJM is to publish the relevant to applied management theory and practice...... Read more >>>

RNI: Not Available                     
DOI: 10.5958/2321-5763 


Recent Articles




Tags