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Industry 4.0: Opportunities and Challenges for Operations Management

Author

Listed:
  • Tava Lennon Olsen

    (Department of Information Systems and Operations Management, The University of Auckland Business School, Auckland 1142, New Zealand;)

  • Brian Tomlin

    (Tuck School of Business, Dartmouth College, Hanover, New Hampshire 03755)

Abstract

Industry 4.0 connotes a new industrial revolution centered around cyber-physical systems. It posits that the real-time connection of physical and digital systems, along with new enabling technologies, will change the way that work is done and therefore, how work should be managed. It has the potential to break, or at least change, the traditional operations trade-offs among the competitive priorities of cost, flexibility, speed, and quality. This article describes the technologies inherent in Industry 4.0 and the opportunities and challenges for research in this area. The focus is on goods-producing industries, which includes both the manufacturing and agricultural sectors. Specific technologies discussed include additive manufacturing, the internet of things, blockchain, advanced robotics, and artificial intelligence.

Suggested Citation

  • Tava Lennon Olsen & Brian Tomlin, 2020. "Industry 4.0: Opportunities and Challenges for Operations Management," Manufacturing & Service Operations Management, INFORMS, vol. 22(1), pages 113-122, January.
    • Handle: RePEc:inm:ormsom:v:22:y:2020:i:1:p:113-122
    DOI: 10.1287/msom.2019.0796
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    References listed on IDEAS

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