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    Literature Review - OM - NK

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    KAZA NIKHIL DIVAKAR
    This paper discusses two documents related to the impacts of Industry 4.0. The first document provides an overview of Industry 4.0's influence on human capital development and consumer behavior. It discusses how new technologies will increase productivity but also cause job disruption requiring retraining. The second document examines how digital manufacturing enterprises can improve customer experience through personalized engagement and services. Both documents conclude that Industry 4.0 will significantly transform industries and societies, requiring adaptation from governments, businesses and consumers.

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    Literature Review - OM - NK

    Uploaded by

    KAZA NIKHIL DIVAKAR
    17 views2 pages
    This paper discusses two documents related to the impacts of Industry 4.0. The first document provides an overview of Industry 4.0's influence on human capital development and consumer behavior. It discusses how new technologies will increase productivity but also cause job disruption requiring retraining. The second document examines how digital manufacturing enterprises can improve customer experience through personalized engagement and services. Both documents conclude that Industry 4.0 will significantly transform industries and societies, requiring adaptation from governments, businesses and consumers.

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    Literature Review_OM_NK

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    This paper discusses two documents related to the impacts of Industry 4.0. The first document provides an overview of Industry 4.0's influence on human capital development and consumer behavior. It discusses how new technologies will increase productivity but also cause job disruption requiring retraining. The second document examines how digital manufacturing enterprises can improve customer experience through personalized engagement and services. Both documents conclude that Industry 4.0 will significantly transform industries and societies, requiring adaptation from governments, businesses and consumers.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    17 views2 pages

    Literature Review - OM - NK

    Uploaded by

    KAZA NIKHIL DIVAKAR
    This paper discusses two documents related to the impacts of Industry 4.0. The first document provides an overview of Industry 4.0's influence on human capital development and consumer behavior. It discusses how new technologies will increase productivity but also cause job disruption requiring retraining. The second document examines how digital manufacturing enterprises can improve customer experience through personalized engagement and services. Both documents conclude that Industry 4.0 will significantly transform industries and societies, requiring adaptation from governments, businesses and consumers.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Influences of the Industry 4.

    0 Revolution on the Human Capital Development and


    Consumer Behaviour : A Systematic Review

    Violeta Sima, Ileana Georgina Georgie, Jonel Subir and Dumitru Nancu

    This paper dealt with the influence of Industry 4.0 on human capital development and
    Consumer behaviour. The paper went through the stages of the various Industrial Revolutions
    and their impact on society. It then proceeded to discuss the issues of Industry 4.0 on Human
    Resource’s and Consumer behaviour. The world will gain significantly with the development
    of Industry 4.0. New technologies like the Internet of Things, Artificial Intelligence will
    revolutionise the Industrial landscape. This will lead to an increase in productivity with
    optimum use of resources and reduced redundancy in the supply chains. However, with this
    increase in productivity, widespread changes would bring about a paradigm shift in the
    workplace. Vast swathes of the workforce would be made redundant causing social unrest in
    the short term. The workforce would need to be re-skilled and be brought to speed with the
    new technologies.

    Secondly, the paper went on to deal with the changes Industry 4.0 would bring on the
    consumer side of the industry. The new technologies will help industry in understanding the
    needs and requirements of consumer in a time frame that was previously unimaginable. With
    accurate real time information, companies can bring about a more personalised, segmented
    and targeted approach towards consumers. Consumer behaviour has also changed with
    segmented routines like shopping, socialising, working being amalgamated with the help of
    smartphones giving rise to a new form of consumption called collaborative consumption.

    In conclusion, Industry 4.0 has widespread changes on human capital and consumer
    behaviour. The success or failure of these changes depends on the abilities of governments,
    industry’s and society’s ability to change optimally.

    Industry 4.0 engages customers : The digital manufacturing enterprise power the
    customer life cycles

    Deloitte University Press

    The paper dealt with the influence of Industry 4.0 on the manufacturing industry. It
    elucidated on the concept of digital manufacturing enterprise (“DME”). DME deals with the
    analysis of information from the digital space and to drive action in to the physical space.
    DME would change the industrial paradigm from sales to account management and
    aftermarket service, These new system would improve efficiency and enhance customer
    experience, thereby improving customer experience and help in retaining them. This new
    system would help companies to create differentiated and personalised experiences., thereby
    increasing brand loyalty. Similarly, new technologies like data and insights derived from
    products would carry a greater value than the product itself. An illustration would be the data
    provided in FedEx deliveries. Secondly, larger companies would have an advantage over
    SME’s as they have the bandwidth to incorporate technologies to incorporate DME’s, thereby
    handling the transition in a smoother manner.
    DME would help increasing customer engagement. Real time data would help companies in
    providing insight into consumer use. The low end and standardised process of manufacturing
    would be digitised, thereby freeing up human capital for high end sales.

    In conclusion, the paper by Deloitte has provided a compressive review on DME. DME
    would revolutionise the manufacturing process and the consumer behaviour.

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