Developing an Industry 4.0 Readiness Model for Indian Engineering Industries
International Journal of Management, Technology, and Social Sciences (IJMTS), 5(2), 141-153. (2020), ISSN: 2581-6012.
11 Pages Posted: 20 Oct 2020
Date Written: September 1, 2020
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 Industry 4.0 readiness model by analyzing 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.
Keywords: Industry 4.0, Readiness Model, Indian Engineering Industry, ABCD Framework, Industry 4.0 Implementation
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