Study Of Identification and Implementation of Key Industry 4.0 Components in Indian Auto Ancillary & Allied Manufacturing Companies

Abstract

Research into the various aspects of Industry 4.0 is of the utmost significance for determining the course of both the future of manufacturing and the development of new technologies. As we progress farther into the realms of artificial intelligence, the Internet of Things, data analytics, and automation, it is becoming increasingly important to have a comprehensive understanding of the complexities of these components and how they are integrated into various industrial processes. This type of study not only helps businesses become more innovative and competitive, but it also makes it easier for them to establish production methods that are both effective and environmentally friendly. Researchers can uncover novel solutions to optimise supply chains, enhance product customization, improve resource allocation, and ultimately pave the way for a smarter, more interconnected industrial landscape that can meet the challenges and demands of the modern world if they can decipher the potential of these components. This can be done by figuring out what their potential is and then applying that knowledge. Industry 4.0 has been helping the manufacturing world with several benefits which is not restricted to improved productivity, predictability, qualitative improvement, financial benefits, safety benefits and improved customer satisfaction. The study intends to identify the importance of the key components under industry 4.0 and measure the impact of components under Industry 4.0 on financial performance and quality performance. The also measures the satisfaction of implementation of components under Industry 4.0 and  identify the reasons for not implementing Industry 4.0 by Indian Auto Ancillary & Allied Manufacturing companies.