To Study Whether the Managers are Effectively Ready for Industry 4.0 - With Reference to Bangalore City, India
Industry 4.0 is a blend of advanced analytics, Big Data, Robotics & Automation, Artificial Intelligence, Internet of Things (IoT) and Process Digitization across the business value chain. Based on the technological concepts of cyber-physical systems, the Internet of Things and the Internet of Services, it facilitates the vision of the Smart Factory. Within the modular structured Smart Factories of Industry 4.0, cyber-physical systems monitor physical processes, create a virtual copy of the physical world and make decentralized decisions. Over the Internet of Things, Cyber-physical systems communicate & cooperate with each other & humans in real time. Via the Internet of Services, both internal & cross-organizational services are offered & utilized by participants of the value chain. The focus of Industry 4.0 is to create smart products, procedures and processes using smart factories which are capable of managing complexity, less prone to disruption and able to manufacture goods more efficiently In the smart factory, human beings, machines and resources communicate with each other as in a social network. Industry 4.0 is a key initiative of the German high-tech strategy supported by the German government. Industry 4.0 focuses on the end-to-end digitisation of all physical assets and integration into digital ecosystems with value chain partners. Generating, analysing and communicating data seamlessly under pins the gains promised by Industry 4.0, which networks a wide range of new technologies to create value. Only 25 countries well-positioned to benefit from Industry 4.0 according to new World Economic Forum According to an analysis , if Indian companies adopt Industry 4.0 across functions such as manufacturing, supply chain, logistics and procurement, they can enhance their operating profits by 40% at less than 10% of the planned capital expenditure.
The rise in new digital technology and the spread of Industry 4.0 are leading to major changes in managerial issues. The objective of this work is two fold:
a) to investigate how skills are changing and which are effectively required by digital transformation of Industry 4.0
b) to know if our managers effectively ready for the change
This is descriptive and exploratory study; Descriptive study aims to describe the phenomena about the about the variables being studied.
The study is based on the survey of the respondents. The data required for the research purpose will be obtained from Managers of various organizations in Bangalore with a sample size of 100 through questionnaire.
ANALYSIS: (Using SPSS)
Hypothesis : The sample size represents true population. Descriptive analysis through P plots and Q plots
KMO and Bartlett's Test: Chi-Square
Keywords - SMART Factory, Artificial Intelligence, End to End Digitization, Big Data Analytics.