Tata Steel Europe
Industry 4.0, Internet of Things, big data, and analytics are buzzwords that herald the advent of the so-called fourth Industrial Revolution as a fusion of the physical and digital world in cyber-physical systems. Its proponents predict disruptive innovation in many fields of value creation and delivery, which proves to be a constant challenge in this industry. The discussion on opportunities and potential impacts is still limited to certain theories and practices.
By exploring how cyber-physical age could be harnessed for business model and supply chain innovation, a framework is built and applied to Tata Steel Europe to generate, evaluate and discuss innovations in the virtual network, the synchronised performance relationship and value as a circulat service. Tata Steel Europe can review specific recommendations on exploiting these innovative options, alongside readers who can use the developed framework as inspiration and guideline on how to generate, specify and evaluate their own cyber-physical options in their industries.