Considering the significance of industry 4.0 (I 4.0) in manufacturing and the impact of internal and external environments in achieving transformation, the organizations require a comprehensive framework to reap I 4.0 benefits. In this study, a systematic literature review is conducted to identify strengths, weaknesses, opportunities, threats (SWOT), and strategic factors that may affect I 4.0 implementation in the manufacturing sector in India. Based on SWOT analysis and expert panel discussion, ten strategies were finalized. The neutrosophic-interpretive structural modeling (N-ISM) method is further employed to evaluate the hierarchical relationships among the I 4.0 strategy. The structural model showed that the strategies “complete cost–benefit analysis of I 4.0 technologies (ST9)” and “government policies to support I 4.0 (S10)” play a significant role in I 4.0 adoption. The neutrosophic-Cross-Impact Matrix Multiplication Applied to Classification (N-MICMAC) also indicates that these strategies possess the highest driving power. The study contributes by developing a hierarchical framework for I 4.0 implementation strategies by identifying internal and external factors affecting its adoption. The current study also offers useful insights for managers and practitioners to acknowledge the challenges and opportunities of implementing I 4.0. Using this framework, they may understand interrelationships among strategies to build a comprehensive roadmap.
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