Impact Analysis of Industry 4.0 on Realtime Smart Production Planning and Supply Chain Management

This research work is focused towards identification of application of components of industry 4.0 such as Internet of Things (IoT), machine learning, big data, and blockchain to supply chain management (SCM) to address the current research gaps as well as to identify the potential of industry 4.0 in developing real time decision making smart production process. In this paper a discussion is presented about problems that are being faced in existing systems such as system complexity, scalability issues, operational cost and difficulty in decision making in dynamic condition of demand. This paper also presented the impacts of components of industry 4.0 in SCM. Along with that, a six-layer architecture integrating these components are also presented for smart production planning and decision making.