Migration framework for decentralized and proactive risk identification in a Steel Supply Chain via Industry 4.0 technologies
For competitive risk mitigation in future steel supply chain networks a decentralized risk identification corresponding to the 4th Industrial Revolution is required. By integrating Cyber-Physical-Systems (CPS) in supply chain networks, a large number of real-time data in different formats will be available and must be consolidated. A framework is missing that leads to an improved risk identification and mitigation process by linking risks and CPS. In this paper a framework will be presented which correlates identified supply chain risks, suitable Industry 4.0 (I4.0) technologies and relevant finance indicators. The framework enables to identify relevant risks and their potential impact on companies’ assets and working capital, and also gives advice how these risks can be registered in advance by using I4.0 technologies.