How Industry 4.0 and digital and smart technologies have revolutionized the manufacturing companies

The digital transformation of manufacturing (a phenomenon also known as “Industry 4.0” or “Smart Manufacturing”) is finding a growing interest both at practitioner and academic levels, but it is still in its infancy and needs deeper investigation. The term industry 4.0 comprises a variety of technologies to enable the development of the value chain resulting in reduced manufacturing lead times, and improved product quality and organizational performance. It is having an enormous disruptive impact on supply chains, industries and business models. This fast-growing digital manufacturing ecosystem phenomenon and several emerging frontier technologies have revolutionized manufacturing companies. However, there is a lack of understanding of companies which implement or adopt these technologies. Thus, in this paper, we aim to understand the adoption patterns of industry 4.0 technologies in manufacturing companies. Our findings show that companies of all sizes, from established global firms to small local businesses with fewer than 100 employees, can achieve radical Fourth Industrial Revolution innovation. Manufacturing will be transformed from single automated cells to fully integrated, automated, facilities that communicate with one another and boost flexibility, speed, productivity, and quality.