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Globalization and Emerging Opportunities and Challenges in Sustainable Environment in Industry 4.0
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Author(s): H. R. Swapna (Jain University (Deemed), India), Sanjeet Singh (Chandigarh University, India), Geetika Madaan (Chandigarh University, India), Sonali Mishra (Llyod Law College, India), Digvijay Pandey (Department of Technical Education, IET, Dr. A.P.J. Abdul Kalam Technical University, India)and Uday Kumar Kanike (Georgia State University, USA)
Copyright: 2023
Pages: 21
Source title:
Handbook of Research on Safe Disposal Methods of Municipal Solid Wastes for a Sustainable Environment
Source Author(s)/Editor(s): Prateek Srivastava (Chitkara University Institute of Engineering and Technology, Chitkara University, India), Durgaprasad Ramteke (Fibre and Particle Engineering, Faculty of Technology, University of Oulu, Finland), Ankush Kumar Bedyal (Department of Physics, School of Sciences, Cluster University of Jammu, India), Monika Gupta (Chitkara Business School, Chitkara University, India)and Jasminder Kaur Sandhu (Chitkara University Institute of Engineering and Technology, Chitkara University, India)
DOI: 10.4018/978-1-6684-8117-2.ch004
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Abstract
The rapid technological advancement of the manufacturing sector over the past few decades inevitably led to the rise of Industry 4.0. It has the potential to significantly alter how globalisation is practiced in the production and consumption of products and services across international markets. In this chapter, the authors take a closer look at the rise of Industry 4.0 and the new technical architecture that underpins it, as well as the benefits it's expected to bring. In addition, how technology can be used to fortify a company's competitiveness and shield it from the perils of this transformation. The new global division of labour, the worldwide supply chain, and the global value chain will all be profoundly affected by this multifaceted technology, as evidenced by a thorough examination of the relevant literature. It will alter the competitive landscape by shifting the advantage away from large corporations and toward small and medium-sized enterprises (SMEs) in emerging marketsand developed markets. As human and technological skills advance quickly, businesses may be able to profit.
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