RAPIDLY ARRIVING FUTURES: FUTURE READINESS FOR INDUSTRY 4.0

• Main Author: Botha, Anthon P.
• Format: Article
• Language: English
• Published: Stellenbosch University 2018-11-01
• Series: South African Journal of Industrial Engineering
• Subjects: industry 4.0; technology readiness levels and manufacturing readiness levels; future readiness levels; future readiness index
• Online Access: http://sajie.journals.ac.za/pub/article/view/2056

The future being shaped by Industry 4.0 has arrived. Tools are available that anticipate the future, approximate it, estimate it, and select a preferred future; but do we know how to make disruptive futures part of our business and lives? Building on technology readiness levels and manufacturing readiness levels, future readiness levels and a future readiness index are suggested in this paper. The future readiness levels (FRL) are based on readiness at the capability levels of technology, behaviour, event, and future thinking. A future readiness index (FRI) is then determined, based on the entire future thinking space (technology, behaviour, events, and capability to do future thinking). Once the FRL and FRI are known, it will become clear what strategic interventions are required to thrive in a preferred future. The existing and desired situations in future readiness are compared, and the gaps are addressed. This approach provides a tool for the internal monitoring and evaluation of the state of the organisation to remain sustainable and competitive in a future that is fast arriving; to compare organisations competitively in a similar cluster; to benchmark at industry level; and ultimately to have the potential to measure the future readiness of nations.