Analysis of the Factors of Applying Fourth Industrial Revolution in Context of Bangladesh

Abstract

Industry 4.0 has become a popular term in recent years which is a great initiative introduced by the German government in 2011. The objective of this fourth industrial revolution is to transform industrial manufacturing through information and technology and exploitation of the advantages of newly invented technologies and concepts. Thus an Industry production system is more flexible as well as smart and enables industries to produce more customized products with high efficiency. The target of this study is to present and facilitate an understanding of Industry 4.0 concepts, its components and the investigation of challenges of implementing it in a developing country like Bangladesh. It has been found through survey that there are some factors that are working as barrier to implement Industry 4.0. Some of those factors are weak infrastructure, availability of cheap labor, costly installation of technologies, possible lack of government policy and supports and most importantly lack of knowledge. Finally, some solutions have been depicted to overcome these challenges. Also the benefits of implementing Industry 4.0 in Bangladesh have been described specially in garments sector which is one of the most valuable exporting sectors of Bangladesh.

Cite as

Md. Abdus Shabur, & Monowar Wadud Hridoy. (2021). Analysis of the Factors of Applying Fourth Industrial Revolution in Context of Bangladesh. Journal of Advanced Research in Industrial Engineering,3(1), 1–8. http://doi.org/10.5281/zenodo.4624767