Are SMEs Ready for Industry 4.0 Technologies: An Exploratory Study of I 4.0 Technological Impacts

Fourth Industrial revolution, Industry 4.0- A rapidly growing world of digitization that opens the doorway for new era of automation plays a crucial role within the industry which requires a constant research and improvements to achieve and sustain themselves in current world of competitive market. Implementation of industry 4.0 technologies pioneer for a profit maximization with cost reduction and has even realized to show a significant refinement in improved sustainability. Global Market leading organisations are positioning themselves with world of digitisation to their end consumers utilising the digital marketing, e-commerce and customer experience virtually driving towards a completely new era of digital ecosystem. Supply chain management (SCM) within the small and medium enterprises (SME`s) plays an important role in supporting the global manufacturing economies. SME's lacks the understanding and significance of transforming themselves with the extremely complex digital supply chain systems that may leads to losses if they don't embrace now for innovations and implement the latest technological advancements. This paper aims to examine the current trends and impacts of latest technologies within the SME's with the view of key factors of Industry 4.0.