ABSTRACT. This article reviews and advances existing literature concerning smart production systems in Industry 4.0. Using and replicating data from Accenture, BCG, BI Intelligence, Capgemini, eMarketer, Frontier Economics, Gartner, PwC, Statista, and Zebra Technologies, I performed analyses and made estimates regarding technology developments that enable Service 4.0 (%), Internet of Things security spending worldwide (2016–2021, by segment, in million U.S. dollars), potential impact of artificial intelligence on real gross value added worldwide (%, by country, by 2035), retailers planning to invest in artificial intelligence and Internet of Things technologies by 2021 (%), and benefits of implementing artificial intelligence (%). Data were analyzed using structural equation modeling.
JEL codes: E24; J21; J54; J64

Keywords: smart production system; Industry 4.0; sustainable supply chain management

How to cite: Bourke, Eilis (2019). “Smart Production Systems in Industry 4.0: Sustainable Supply Chain Management, Cognitive Decision-Making Algorithms, and Dynamic Manufacturing Processes,” Journal of Self-Governance and Management Economics 7(2): 25–30. doi:10.22381/JSME7220194

Received 9 December 2018 • Received in revised form 22 May 2019
Accepted 23 May 2019 • Available online 1 June 2019