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Industry 4.0: New Paradigms of Value Creation for the Steel Sector

In: Knowledge Management and Industry 4.0

Author

Listed:
  • Laura Tolettini

    (Feralpi Holding S.p.A.)

  • Claudia Lehmann

    (HHL Leipzig Graduate School of Management)

Abstract

Industry 4.0 has hugely affected the investment decisions of many industrial companies, including small and medium-sized enterprises. Thanks to national government initiatives, incentives and subsidies have supported investments in innovative and digital technologies, giving also a positive impulse in the national economic growth. The greatest advantages of Industry 4.0 are the empowerment of sustainable growth, thanks to the optimization of resources, and the integration of the supply chain. Nevertheless, Industry 4.0 challenges industries on the organizational level, concerning the integration of these technologies with existing ones and the management of digital tools by dedicated qualified people. Steel industries have also absorbed the challenges and the advantages of Industry 4.0. Digital technologies are affecting the business model and supply chain of steel producers, pushing them to integrate themselves with their business partners. Industry 4.0 is definitely an opportunity of sustainable growth for the steel sector.

Suggested Citation

  • Laura Tolettini & Claudia Lehmann, 2020. "Industry 4.0: New Paradigms of Value Creation for the Steel Sector," Knowledge Management and Organizational Learning, in: Marco Bettiol & Eleonora Di Maria & Stefano Micelli (ed.), Knowledge Management and Industry 4.0, pages 179-206, Springer.
    • Handle: RePEc:spr:kmochp:978-3-030-43589-9_8
    DOI: 10.1007/978-3-030-43589-9_8
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