ABSTRACT. I develop a conceptual framework based on a systematic and comprehensive literature review on cyber-physical production systems in Industry 4.0. Building my argument by drawing on data collected from Forrester Consulting, McKinsey, Ovum, PwC, and Statista, I performed analyses and made estimates regarding organizations’ level of reliance on automation, machine learning and artificial intelligence (%), top Internet of Things drivers (%), activities required to manage the digital thread (%), and the importance of organizations’ current or planned Internet of Things initiatives to their business priorities (%). The data for this research were gathered via an online survey questionnaire and were analyzed through structural equation modeling on a sample of 4,200 respondents.
JEL codes: E24; J21; J54; J64

Keywords: cyber-physical production system; Industry 4.0; smart factory

How to cite: Felstead, Mathilde (2019). “Cyber-Physical Production Systems in Industry 4.0: Smart Factory Performance, Manufacturing Process Innovation, and Sustainable Supply Chain Networks,” Economics, Management, and Financial Markets 14(4): 37–43. doi:10.22381/EMFM14420195

Received 10 August 2019 • Received in revised form 5 December 2019
Accepted 7 December 2019 • Available online 15 December 2019

Mathilde Felstead
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The Institute of Smart Big Data Analytics,
New York City, NY, USA

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