Labour and Human Resource Issues in Industry 4.0: A Case Study Report On
Labour and Human Resource Issues in Industry 4.0: A Case Study Report On
Labour and Human Resource Issues in Industry 4.0: A Case Study Report On
On
3. SMART FACTORY
The concept of the Industry 4.0 can be described as an increase in the amount of digitization
throughout the entire value chain, and a possible structuring of data transfer between
people, objects, and systems in real time. The Fourth Industrial Period emerged when the
machines used in production started to manage them-selves and production processes
without the need for human power. This structure, which is referred to by the concept of
“the Internet of objects”, extends to the self-management of the manufacturing factory.
Bosch took part in the Industry 4.0 working group and played a leading role (Siemens
2016).Industry 4.0, which was adopted at the beginning of 2011, has become a market of
billions of euros from a technical term within a period of 6 years. By 2020, it is expected that
only 140 billion Euros will be invested in Industry 4.0 within Europe.
This platform is primarily aimed at supporting the development of new technologies, defining
the basic standards for the Industry 4.0 vision, identifying new business models, and
conducting community awareness activities Over time, the concept of Industry 4.0 has
become the focus of all countries that have developed beyond Germany to design a new
industrial system.
Distinctive Features of Industry 4.0