Open AccessDeveloping an Industry 4.0 Readiness Model for Indian Engineering Industries
Author(s) -
Michael Sony,
P. S. Aithal
Publication year - 2020
Publication title -
international journal of management, technology, and social science
Language(s) - English
Resource type - Journals
ISSN - 2581-6012
DOI - 10.47992/ijmts.2581.6012.0110
Subject(s) - superpower , extant taxon , engineering , business , industrial organization , china , political science , evolutionary biology , law , biology
For India to be a global economic superpower, the Indian Engineering Industry which at present is the largest foreign exchange earner must make its strong presence in the global markets. Industry 4.0 is one such initiative which has the power to transform the Indian Engineering Industry to be globally competitive along several strategic dimensions. Industry 4.0 is gradually making inroads and yet, there is no model to assess whether the Indian Engineering Industry is prepared to implement Industry 4.0. This study develops a multi-dimensional Industry4.0 readiness model by analysing in-depth the extant literature. A theoretical framework for assessment is developed. Further, the developed model is qualitatively analysed using the ABCD framework. Practical application of Industry 4.0 readiness model in Indian Engineering Industries is discussed. This is the first Industry 4.0 readiness model developed for Indian Engineering Industries.