IMPACT OF IOT (INTERNET OF THINGS) AND INDUSTRY 4.0 ON PROCESSES TO REDUCE COSTS AND IMPROVE PRODUCTION EFFICIENCY

Author(s): Pushkina O.V., Molokov Y.P.

Rubric: Management

DOI: 10.21777/2587-554X-2020-4-87-92

Release: 2020-4 (35)

Pages: 87-92

Keywords: information systems, information technologies, IoT platforms, cost reduction, resource saving

Annotation: At the present stage of development of society, there is a constant development of information systems (hereinafter referred to as IS), information technologies (hereinafter referred to as IT). The term “Industry 4.0” refers to a qualitative transition from standard production involving large human resources to fully automated digital production, which is managed by IP in real time, as well as with the external environment. The term “Industry 4.0” began to be used as a synonym for the fourth industrial revolution. The essence of it is that today the material world is connected with the virtual, as a result of which new cyber-physical complexes are born. Some large digital companies have started to create IoT platforms and now a fairly large market for these platforms has already been formed. The introduction and use of IoT is a great prospect for every company, IoT provides huge business benefits, including in the field of reducing the cost of products and services by reducing production costs and development opportunities for organizations that do not yet use this technical solution.

Bibliography: Pushkina O.V., Molokov Y.P. IMPACT OF IOT (INTERNET OF THINGS) AND INDUSTRY 4.0 ON PROCESSES TO REDUCE COSTS AND IMPROVE PRODUCTION EFFICIENCY // Economics and Management. – 2020. – № 4 (35). – С. 87-92. doi: 10.21777/2587-554X-2020-4-87-92