MODERNIZING THE MANUFACTURING PROCESS IN THE CONTEXT OF INDUSTRIAL DYNAMICS CHALLENGES
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Abstract
In the context of globalization, fast-moving technologies and a rapidly evolving economy have triggered a new wave of change. Generally known as the Industry 4.0, it has been announced to underline the new industrial revolution. Many industrial, production organizations and companies are exploring this concept, but the criteria for achieving Industry 4.0 are still unclear. This article focuses on the fundamental concepts of the Industry 4.0, the structure of current production systems. The key concept of production, the structure of the supply chain and the impact of customer service on production is also be reviewed to understand how digitalisation and manufacturing are related. The biggest focus in on formulating the Industry 4.0 concept aiming to distinguish and articulate the main characteristics of digitization. On the basis of scientific literature, the concept of manufacturing process and “Industry 4.0” will be analyzed, comparing Lithuanian production trends in the context of digitization.
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