Industry 4.0
Vol. 6 (2021), Issue 3, pg(s) 106-109

BUSINESS & “INDUSTRY 4.0”

Using Industry 4.0 concept in Slovak chemical industry

  • 1 University of Economics in Bratislava, Slovak Republic

Abstract

Industry 4.0 has brought about the interconnection of the physical, cyber and socio-economic worlds. Bringing these three worlds together creates a revolutionary approach that is a new trend not only in industry but also in other areas of the economy, thus pushing the economy and business forward. The concept of Industry 4.0 represents the interconnection of digitalisation and automatisation with the use of smart technologies. The main benefit of Industry 4.0 is to produce tailor-made products where lower costs and shorter production efforts are the main values that will attract new customers and thus the profitability of industrial manufacturers will be significan tly affected. Implementing Industry 4.0 in an enterprise will enable efficient use of human and natural resources and raw materials. It will also partially reduce the demands on the environment and create better living conditions for future generations. The intention of the paper was to explain how the Industry 4.0 concept is changing the direction of the Slovak chemical industry. The main objective of the paper was to explicate the Fourth Industrial Revolution in the form of the Industry 4.0 concept in 44 companies operating in the chemical industry in Slovakia on the basis of a knowledge base and a questionnaire survey

Keywords

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