Sustainable Industry 4.0: Product Decision-Making Information Systems, Data-driven Innovation, and Smart Industrial Value Creation

With the advent of Industry 4.0, economic development has become a rapid information age. The content of macroeconomic forecast is very extensive, and the existence of big data technology can provide the government with multilevel, diversified, and complete information and comprehensively process, integrate, summarize, and classify these pieces of information. This paper forecasts the CPI value in the next 12 months according to the CPI in China in the recent 20 years. Compared with the traditional forecasting methods, the forecasting results have higher accuracy and timeliness. At the same time, the trend of growth rate of industrial value-added is analyzed, and the experiments on MAE and RMSE show that the method proposed in this paper has obvious advantages. It also analyzes the disadvantages of traditional psychological decision-making behavior analysis, introduces the development status and advantages of big data-driven psychological decision-making behavior analysis, and opens up new research ideas for psychological decision-making analysis.

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Business Models for Sustainable Innovation in Industry 4.0: Smart Manufacturing Processes, Digitalization of Production Systems, and Data-driven Decision Making

Journal of Self-Governance and Management Economics ◽

10.22381/jsme7320193 ◽

2019 ◽

Vol 7 (3) ◽

pp. 21 ◽

Cited By ~ 26

Keyword(s):

Decision Making ◽

Industry 4.0 ◽

Business Models ◽

Production Systems ◽

Data Driven ◽

Smart Manufacturing ◽

Manufacturing Processes ◽

Data Driven Decision Making ◽

Sustainable Innovation

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Leveraging open-standard interorganizational information systems for process adaptability and alignment

International Journal of Operations & Production Management ◽

10.1108/ijopm-12-2018-0747 ◽

2019 ◽

Vol 39 (6/7/8) ◽

pp. 962-992

Author(s):

Xiaodie Pu ◽

Alain Yee Loong Chong ◽

Zhao Cai ◽

Ming K. Lim ◽

Kim Hua Tan

Keyword(s):

Supply Chain ◽

Information Systems ◽

Value Creation ◽

Industry 4.0 ◽

Content Type ◽

Organizational Information ◽

Open Standard ◽

Three Stage Least Squares ◽

The Impact ◽

Positive Effect

Purpose The purpose of this paper is to understand the value creation mechanisms of open-standard inter-organizational information system (OSIOS), which is a key technology to achieve Industry 4.0. Specifically, this study investigates how the internal assimilation and external diffusion of OSIOS help manufactures facilitate process adaptability and alignment in supply chain network. Design/methodology/approach A survey instrument was designed and administrated to collect data for this research. Using three-stage least squares estimation, the authors empirically tested a number of hypothesized relationships based on a sample of 308 manufacturing firms in China. Findings The results of the study show that OSIOS can perform as value creation mechanisms to enable process adaptability and alignment. In addition, the impact of OSIOS internal assimilation is inversely U-shaped where the positive effect on process adaptability will become negative after an extremum point is reached. Originality/value This study contributes to the existing literature by providing insights on how OSIOS can improve supply chain integration and thus promote the achievement of industry 4.0. By revealing a U-shaped relationship between OSIOS assimilation and process adaptability, this study fills previous research gap by advancing the understanding on the value creation mechanisms of information systems deployment.

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