Implementation Strategies for SME 4.0: Insights on Thailand

Abstract

AbstractThis chapter presents how SMEs or companies can implement Industry 4.0 based on case studies in Thai SMEs. Additionally, the chapter examined implementation strategies to convert a company successfully to SME 4.0. The implementation process includes identifying business trends, foresight strategy, gap analysis, industrial research and capacity development, and technology blueprint development plan. By working closely as the triple helix with universities and tech-development agencies, the inside-out and outside-in approaches are used. There can be several challenges during the implementation, such as the requirement of new skills, new technology, and investment needs. The challenges can be addressed by setup and implement the appropriate strategy for developing workers’ skill sets, making investments in the new technologies, and improving the efficiency of the production process.