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2023 | OriginalPaper | Chapter

89. Delivering Industry 4.0 Promise to SMEs: Designing an Entrepreneurial Opportunity

Authors : Vinay Venumuddala, Manjunath Agalalgurki Nagaraj

Published in: Design in the Era of Industry 4.0, Volume 3

Publisher: Springer Nature Singapore

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Abstract

A better designed artefact can open new opportunities making the solution accessible and affordable to a wider set of consumers. In this spirit, we explore how to design potential solutions that can democratize and bring to the small and medium enterprises (SMEs) the benefits promised under industry 4.0. From a review of literature around SMEs in the context of industry 4.0, we delineate the differentiating features of SMEs under two broad characteristics—scale and scope. Scale signifies the market size and the basket of offerings. Scope refers to the extent in the supply chain over which a firm has expertise and exercises control. SMEs are constrained on both these counts relative to large enterprises and hence are at a disadvantage in terms of reaping gradual benefits from current industry 4.0 solutions which are predominantly skewed in favour of the latter. Our synthesis suggests that entrepreneurs designing/offering industry 4.0 solutions must pay attention to their customer firms’ scale and scope characteristics and expectations, to facilitate an SME friendly industrial transformation. To this end, we provide a set of design propositions which entrepreneurs can use to devise appropriate industry 4.0 solutions for SMEs.

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Title: Delivering Industry 4.0 Promise to SMEs: Designing an Entrepreneurial Opportunity
Authors: Vinay Venumuddala
Manjunath Agalalgurki Nagaraj
Publisher: Springer Nature Singapore
Book: Design in the Era of Industry 4.0, Volume 3
Print ISBN: 978-981-9904-27-3

Electronic ISBN: 978-981-9904-28-0

Copyright Year: 2023
DOI: https://doi.org/10.1007/978-981-99-0428-0_89