Concept of SME Business Model for Industry 4.0 Environment

Ongoing technological development pushes industry towards the so called fourth industrial revolution. Considering new technology as a determinant of future business environment, we find it necessary to examine how platforms such as Industry 4.0 will change enterprises organization and business models. Designed model should serve as guidance for new and also already existing enterprises for implementing of Industry 4.0 required attributes especially in early stage. Main emphasis is given on software and cloud solutions that will become necessary despite the fact that in recent industrial SMEs they do not play significant role. Such transformation will raise crucial questions about funding new technologies

Organizational innovation and cost reduction analysis of manufacturing process – Case study

Innovation is the key to the growth of each business in a fast-changing world. Innovations affect financial activities because the successful innovation opens the new markets, gives the opportunity to reduce costs or introduce new products and services with a higher profit margin. Each organization, institution, enterprise or individual can be innovative. Innovations may not be implemented only in large enterprises, but also in medium or small. The aim of this paper is to innovate and optimize the polishing process in production plant with variant production. In this paper case study is used as research method which includes measurements and observation. The paper is focused on five variants of one product. We obtained the required data by measuring in a manufacturing plant in southern India in Madurai. At the end the results are summarized, and the optimization of the polishing process is proposed