The ‘‘aftermath’’ of Industry 4.0 in small and medium enterprises

Abstract

With the development of new technologies and methodologies, multiple sectors start to experience the benefits and drawbacks. Currently, the industry is facing a new revolution known as Industry 4.0. This new path allowed all enterprises to further develop their methodologies and understand the disadvantages and advantages of it. With the sole purpose of retaining costs in production while maintaining the same degree of quality, companies desire to diminish their downtime due to malfunction or improper maintenance schedules that may not amount to the desired efficiency. Nevertheless, not all companies manage to enter this exclusive circle, since such technologies also deliver a high cost which some companies simply cannot support. Consequently, this generates a huge drawback to the outsiders of this revolution.