Industry 4.0 readiness factor calculation: Criteria evaluation framework

Abstract

Industry 4.0 concept today is an imperative for every manufacturing, but also the service company. In the most demanding situation are SMEs because of the high level of the financial investment during the digitalization period required. To make the investment and strategic plan as accurate and with less waste as possible the readiness factor should be calculated. It demonstrates the current situation in the company and gives the overview needed for the comparison with ideal Industry 4.0 model. There are several methods for readiness factor calculation already presented in the literature, but none of them has been shown as detailed enough for this situation. Since there are many influential criteria during the digitalization period, the multicriteria decision support has been chosen for the readiness factor calculation as a novel approach. In this paper the model for criteria structuring and evaluation will be presented with framework for the final calculation.

Keywords

• industry 4.0
• readiness factor
• decision support
• multicriteria optimization