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Management Paper: Transforming Industry 4.0 challenges into opportunities with optimized planning and decision making

We are currently in the midst of the fourth major industrial revolution – which is widely referred to as “Industry 4.0”.

In the supply chain world, the Industry 4.0 era has seen the rapid rise of automation and data utilization on an unprecedented scale, bringing about a major operational transformation with the introduction of new technologies including cyber-physical systems, internet of things (IoT) devices, cloud computing, artificial intelligence (AI), machine learning, robotics, and advanced data analytics.

These new technologies coupled with customer-centric, demand-driven market dynamics are fundamentally changing the rules of the supply chain game and creating new challenges for manufacturing companies.

In this management paper, we highlight the main challenges that supply chain companies face in the Industry 4.0 era, and reveal the critical capabilities that they need to succeed.

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