Assessing the Readiness of Industry 4.0 and the Circular Economy
Globalisation, technological advancement, and resource consumption have historically served humanity well by typically delivering both economic growth and social progress. But as these drivers have accelerated, there has been increasing divergence between economic growth and environmental sustainability. The emerging concepts of Industry 4.0 and Circular Economy offer promising opportunities to correct the course – with the right governance, an enabling environment, and public─private partnerships. The results of assessments of the readiness of national economies and companies to adapt to and adopt these initiatives play an important role in building an operational strategy for Industry 4.0 and Circular Economy. The book presents assessment frameworks of differing magnitude for embracing Industry 4.0 and Circular Economy in the context of fast-growing emerging Asian economies. Different approaches to the assessment of readiness and use of different qualitative and quantitative key indicators are examined in detail. The book also provides an integrated Self-assessment Tool for Industry 4.0 and Circular Economy – the first comprehensive, quantitative measure constructed by ERIA for use by firm managers and policymakers.