Industry 4.0.: advanced approach

Abstract

The article contains the basic concepts that characterize the term Industry 4.0, presents the research results of leading analytical agencies, presents a comparative description of the traditional approach and flexible management methods, analyzes the “digital” trade balance of European countries, presents the technologies that form the basis of the fourth industrial revolution, gives comparative characteristics of hierarchical structures of production and management of traditional enterprises using flexible principles of design work. According to the results of the research, it was concluded that Industry 4.0 brings great opportunities for innovative manufacturers, system suppliers, and entire regions. But, as in the previous modernization stages, Industry 4.0 also poses a serious threat to companies and regions that are not keeping pace with modern challenges. As business models, economies, and skill requirements change, major changes in management decisionmaking practice will become apparent.