Conference contribution


What do we know about "Industry 4.0" so far?


Publication Details
Author(s): Kiel D
Publication year: 2017

Event details
Event: International Association for Management of Technology (IAMOT) Conference
Event location: Vienna
Start date of the event: 14/05/2017
End date of the event: 18/05/2017
Language: English

Abstract

“Industry 4.0”, internationally referred to as the “Industrial Internet of Things” (IIoT), describes a new paradigm of digitized and connected industrial value creation, which is assumed to yield extensive industry-spanning opportunities. Being officially not announced until 2011, the IIoT represents a comparably young research field. Due to its technical core, recent academic works primarily focus on technical challenges and enablers. By contrast, the economic perspective is still researched insufficiently, slowly starting to catch up. In order to accelerate the economic discussion, a systematic synthesis and overview of the extant body of literature is essential. This paper aims to display the current state of economic research as well as to identify research gaps in order to enable a reasoned development of future research in the context of the IIoT.

A systematic literature review is chosen as research method since it is elaborate, transparent, and replicable for the identification, evaluation, synthesis, and discussion of existing academic works. It identified 82 articles in journals, collected editions, conference proceedings, and working papers published between January, 2011 and July, 2016.

The literature review reveals five topical areas: Human Resource Management, Implementation, Business Models, Supply Chain Management, as well as Law and Ethics. 25 articles are assigned to the Human Resource Management area addressing implications of digitally connected value chains for ways of working, job design, as well as the need for IIoT-specific workforce qualifications. Literature dealing with the Implementation (n=24) of the IIoT offers general recommendations to drive the digitized connection of production processes. The area Business Models (n=17) emphasizes the need for a future-oriented organizational transformation as well as for innovative business models based on online platforms and data. Regarding Supply Chain Management (n=15), academia discusses the optimization of data-driven value chains in order to increase, e.g., resource and energy efficiency. Lastly, Law and Ethics (n=3) refers to legal and ethical issues like data security, ownership, and transparency as well as their potential misuse.

By providing a comprehensive and clearly displayed current state of economic research as well as disclosing seven future research areas, the present review is highly relevant for advancing the economic perspective of the IIoT. Moreover, managerial practitioners are supported in understanding the IIoT and its inevitable effects on industrial companies by presenting insights into strategic management in the era of digitized and connected industrial value creation and capture.



How to cite
APA: Kiel, D. (2017). What do we know about "Industry 4.0" so far? Vienna, AT.

MLA: Kiel, Daniel. "What do we know about "Industry 4.0" so far?" Proceedings of the International Association for Management of Technology (IAMOT) Conference, Vienna 2017.

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Last updated on 2017-09-22 at 04:09
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