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  • How Industry 4.0 Is Changing How We Manage Value Creation

    15 July 2015
    Horváth & Partners, Member Firm (Germany)

    Many manufacturing companies interpret and expect the increasing digitization and networking of man and products with each other as the Fourth Industrial Revolution. Buzzwords such as “Internet of Things”, “Industry 4.0” or “Cyber-Physical Systems” are being discussed all the way up to Board level. The German federal government has bundled all its efforts concerning Industry 4.0 together in its High-Tech Strategy and declared the “integration of digitization in production processes” as a key technology for the German economy.

    The term "Industry 4.0" (derived from the German term "Industrie 4.0") groups together the intelligent digital networking of different companies along the stages of value creation and the autonomous, rule-based decision-making and performance management of individual value cration functions within a company, based on Big Data analyses (cf. Kagermann et al., 2013, p. 17). This very fitting definition of the content of Industry 4.0 shows just how extensive and comprehensive it is and why it is the subject of widespread discussion.

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