Industry 4.0: Opportunities and Challenges for Operations Management

20 Pages Posted: 29 Apr 2019

See all articles by Tava Lennon Olsen

Tava Lennon Olsen

University of Auckland - Business School

Brian Tomlin

Tuck School of Business at Dartmouth

Date Written: March 7, 2019

Abstract

Industry 4.0 connotes a new industrial revolution centered around cyber-physical systems. It posits that the real-time connection of physical and digital systems, along with new enabling technologies, will change the way work is done, and therefore, how work should be managed. It has the potential to break, or at least change, the traditional operations trade-offs among the competitive priorities of cost, flexibility, speed, and quality. This article describes the technologies inherent in Industry 4.0 and the opportunities and challenges for research in this area. The focus is on goods-producing industries, which includes both the manufacturing and agricultural sectors. Specific technologies discussed include: Additive Manufacturing, the Internet of Things, Blockchain, Advanced Robotics, and Artificial Intelligence.

Keywords: Additive Manufacturing, Internet of Things, Blockchain, Robotics, Artificial Intelligence

Suggested Citation

Lennon Olsen, Tava and Tomlin, Brian, Industry 4.0: Opportunities and Challenges for Operations Management (March 7, 2019). Tuck School of Business Working Paper No. 3365733. Available at SSRN: https://ssrn.com/abstract=3365733 or http://dx.doi.org/10.2139/ssrn.3365733

Tava Lennon Olsen

University of Auckland - Business School ( email )

12 Grafton Rd
Private Bag 92019
Auckland, 1010
New Zealand

Brian Tomlin (Contact Author)

Tuck School of Business at Dartmouth ( email )

Hanover, NH 03755
United States

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