Industry 4.0 Indicators and Their Roles in Strategy Formulation

Abstract

This paper attempts to extract Industry 4.0 indicators from relevant literature and integrate these indicators in strategy formulation by providing a categorization system according to technological, organizational, inter-organizational, and social and regulatory clusters. The identified 62 indicators are found to cover a wide range of responsibilities accounted for by specific functional teams and cross-functional teams, which collectively aim to support strategic decision-making among stakeholders. The categorization of indicators is necessary to efficiently facilitate corporate level, business level, and functional level strategies.