Application of Porter’s Value Chain Model for Construing Potential Prospects and Lacunas in Industry 4.0 Adoption by 21st Century Manufacturers

Makinde Oluwafemi Ajayi; Opeyeolu Timothy Laseinde

doi:10.1007/978-3-030-80462-6_44

Application of Porter’s Value Chain Model for Construing Potential Prospects and Lacunas in Industry 4.0 Adoption by 21^st Century Manufacturers

Makinde Oluwafemi Ajayi
, Opeyeolu Timothy Laseinde

Mechanical and Industrial Engineering Technology

University of Johannesburg

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

4 Citations (Scopus)

Abstract

Manufacturing firms are lately experiencing a paradigm shift from mass production to customized production. As such, it becomes more pertinent for industrial entities to engage digital and intelligent systems of manufacturing. Industry 4.0, also known as the Fourth Industrial Revolution (4IR), is spurred by integrating digital technologies. This is embedded within an interoperable global value chain that guarantees sustainable operational efficiency and value optimization. This paper presents a review evaluating the potential opportunities and threats manufacturing firms experience with adopting the 4IR and the implication on value chains. An extensive literature review was conducted by analyzing accredited resources, using peer-reviewed articles, industry reports, and validated information obtainable in global repositories. The study generated a better understudying of Industry 4.0 technology adoption and their underlying impact (favor-able and non-favorable) on industrial value chains. Significant findings reveal that the practice of industry 4.0 has a significant effect on organization cost, material resources, processes, products, systems, humans, and business models in manufacturing firms. The findings indicate that the impact of Industry 4.0 on manufacturing firms be studied holistically as against localized study of enterprises and country. As such, global views with inter-country economic peculiarities and realities must be considered.

Original language	English
Title of host publication	Advances in Manufacturing, Production Management and Process Control - Proceedings of the AHFE 2021 Virtual Conferences on Human Aspects of Advanced Manufacturing, Advanced Production Management and Process Control, and Additive Manufacturing, Modeling Systems and 3D Prototyping, 2021
Editors	Stefan Trzcielinski, Beata Mrugalska, Waldemar Karwowski, Emilio Rossi, Massimo Di Nicolantonio
Publisher	Springer Science and Business Media Deutschland GmbH
Pages	353-363
Number of pages	11
ISBN (Print)	9783030804619
DOIs	https://doi.org/10.1007/978-3-030-80462-6_44
Publication status	Published - 2021
Event	AHFE Conferences on Human Aspects of Advanced Manufacturing, Advanced Production Management and Process Control, and Additive Manufacturing, Modeling Systems and 3D Prototyping, 2021 - Virtual, Online Duration: 25 Jul 2021 → 29 Jul 2021

Publication series

Name	Lecture Notes in Networks and Systems
Volume	274
ISSN (Print)	2367-3370
ISSN (Electronic)	2367-3389

Conference

Conference	AHFE Conferences on Human Aspects of Advanced Manufacturing, Advanced Production Management and Process Control, and Additive Manufacturing, Modeling Systems and 3D Prototyping, 2021
City	Virtual, Online
Period	25/07/21 → 29/07/21

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 9 Industry, Innovation, and Infrastructure

Keywords

Industry 4.0
Manufacturing firms
Opportunities
Threats
Value chain

ASJC Scopus subject areas

Control and Systems Engineering
Signal Processing
Computer Networks and Communications

Access to Document

10.1007/978-3-030-80462-6_44

Cite this

Ajayi, M. O., & Laseinde, O. T. (2021). Application of Porter’s Value Chain Model for Construing Potential Prospects and Lacunas in Industry 4.0 Adoption by 21^st Century Manufacturers. In S. Trzcielinski, B. Mrugalska, W. Karwowski, E. Rossi, & M. Di Nicolantonio (Eds.), Advances in Manufacturing, Production Management and Process Control - Proceedings of the AHFE 2021 Virtual Conferences on Human Aspects of Advanced Manufacturing, Advanced Production Management and Process Control, and Additive Manufacturing, Modeling Systems and 3D Prototyping, 2021 (pp. 353-363). (Lecture Notes in Networks and Systems; Vol. 274). Springer Science and Business Media Deutschland GmbH. https://doi.org/10.1007/978-3-030-80462-6_44

Ajayi, Makinde Oluwafemi ; Laseinde, Opeyeolu Timothy. / Application of Porter’s Value Chain Model for Construing Potential Prospects and Lacunas in Industry 4.0 Adoption by 21^st Century Manufacturers. Advances in Manufacturing, Production Management and Process Control - Proceedings of the AHFE 2021 Virtual Conferences on Human Aspects of Advanced Manufacturing, Advanced Production Management and Process Control, and Additive Manufacturing, Modeling Systems and 3D Prototyping, 2021. editor / Stefan Trzcielinski ; Beata Mrugalska ; Waldemar Karwowski ; Emilio Rossi ; Massimo Di Nicolantonio. Springer Science and Business Media Deutschland GmbH, 2021. pp. 353-363 (Lecture Notes in Networks and Systems).

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abstract = "Manufacturing firms are lately experiencing a paradigm shift from mass production to customized production. As such, it becomes more pertinent for industrial entities to engage digital and intelligent systems of manufacturing. Industry 4.0, also known as the Fourth Industrial Revolution (4IR), is spurred by integrating digital technologies. This is embedded within an interoperable global value chain that guarantees sustainable operational efficiency and value optimization. This paper presents a review evaluating the potential opportunities and threats manufacturing firms experience with adopting the 4IR and the implication on value chains. An extensive literature review was conducted by analyzing accredited resources, using peer-reviewed articles, industry reports, and validated information obtainable in global repositories. The study generated a better understudying of Industry 4.0 technology adoption and their underlying impact (favor-able and non-favorable) on industrial value chains. Significant findings reveal that the practice of industry 4.0 has a significant effect on organization cost, material resources, processes, products, systems, humans, and business models in manufacturing firms. The findings indicate that the impact of Industry 4.0 on manufacturing firms be studied holistically as against localized study of enterprises and country. As such, global views with inter-country economic peculiarities and realities must be considered.",

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Ajayi, MO & Laseinde, OT 2021, Application of Porter’s Value Chain Model for Construing Potential Prospects and Lacunas in Industry 4.0 Adoption by 21^st Century Manufacturers. in S Trzcielinski, B Mrugalska, W Karwowski, E Rossi & M Di Nicolantonio (eds), Advances in Manufacturing, Production Management and Process Control - Proceedings of the AHFE 2021 Virtual Conferences on Human Aspects of Advanced Manufacturing, Advanced Production Management and Process Control, and Additive Manufacturing, Modeling Systems and 3D Prototyping, 2021. Lecture Notes in Networks and Systems, vol. 274, Springer Science and Business Media Deutschland GmbH, pp. 353-363, AHFE Conferences on Human Aspects of Advanced Manufacturing, Advanced Production Management and Process Control, and Additive Manufacturing, Modeling Systems and 3D Prototyping, 2021, Virtual, Online, 25/07/21. https://doi.org/10.1007/978-3-030-80462-6_44

Application of Porter’s Value Chain Model for Construing Potential Prospects and Lacunas in Industry 4.0 Adoption by 21^st Century Manufacturers. / Ajayi, Makinde Oluwafemi; Laseinde, Opeyeolu Timothy.
Advances in Manufacturing, Production Management and Process Control - Proceedings of the AHFE 2021 Virtual Conferences on Human Aspects of Advanced Manufacturing, Advanced Production Management and Process Control, and Additive Manufacturing, Modeling Systems and 3D Prototyping, 2021. ed. / Stefan Trzcielinski; Beata Mrugalska; Waldemar Karwowski; Emilio Rossi; Massimo Di Nicolantonio. Springer Science and Business Media Deutschland GmbH, 2021. p. 353-363 (Lecture Notes in Networks and Systems; Vol. 274).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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Ajayi MO, Laseinde OT. Application of Porter’s Value Chain Model for Construing Potential Prospects and Lacunas in Industry 4.0 Adoption by 21^st Century Manufacturers. In Trzcielinski S, Mrugalska B, Karwowski W, Rossi E, Di Nicolantonio M, editors, Advances in Manufacturing, Production Management and Process Control - Proceedings of the AHFE 2021 Virtual Conferences on Human Aspects of Advanced Manufacturing, Advanced Production Management and Process Control, and Additive Manufacturing, Modeling Systems and 3D Prototyping, 2021. Springer Science and Business Media Deutschland GmbH. 2021. p. 353-363. (Lecture Notes in Networks and Systems). doi: 10.1007/978-3-030-80462-6_44