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Prioritizing Smart Factory Investments : A Project Portfolio Selection Approach

Title data

Dreyer, Stephan ; Egger, Andreas ; Püschel, Louis ; Röglinger, Maximilian:
Prioritizing Smart Factory Investments : A Project Portfolio Selection Approach.
In: International Journal of Production Research. (2020) . - No. 1849845.
ISSN 1366-588X
DOI: https://doi.org/10.1080/00207543.2020.1849845

Official URL: Volltext

Project information

Project title:
Project's official titleProject's id
Projektgruppe WI Wertorientiertes ProzessmanagementNo information
Projektgruppe WI DigitalisierungNo information

Abstract in another language

Industry 4.0, which describes the transformation of existing production environments toward smart factories, is implemented in ever more manufacturing companies. Smart factories offer diverse advantages such as high flexibility, dynamic scheduling, as well as accurate fault diagnosis and prediction. Hence, manufacturing companies need support for assessing which projects they should implement to transform their production environment. As no such guidance exists in the literature, we propose a multi-dimensional decision model that accounts for interdependencies among production components, for projects with different performance effects, and for digital capabilities constitutive of smart factories (i.e.., real-time ability, interoperability, virtualisation and decentralisation). The decision model schedules smart factory projects over multiple planning periods and assesses project roadmaps in line with objectives that comply with established performance measures and the digital capabilities of smart factories. We evaluate and discuss the decision model in interviews with two factory managers and three researchers with great experience in the smart factory domain. Based on a software prototype, we also successfully applied the decision model at a manufacturing company based on real-world data.

Further data

Item Type: Article in a journal
Refereed: Yes
Keywords: Smart Factory; Project Portfolio Management; Performance Measurement; Multi-criteria Decision Making; Digital Capabilities
Institutions of the University: Faculties
Faculties > Faculty of Law, Business and Economics
Faculties > Faculty of Law, Business and Economics > Department of Business Administration
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration XVII - Information Systems and Value-Based Business Process Management
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration XVII - Information Systems and Value-Based Business Process Management > Chair Information Systems and Value-Based Business Process Management - Univ.-Prof. Dr. Maximilian Röglinger
Research Institutions
Research Institutions > Research Centres
Research Institutions > Research Centres > Forschungszentrum für Modellbildung und Simulation (MODUS)
Research Institutions > Affiliated Institutes
Research Institutions > Affiliated Institutes > Fraunhofer Project Group Business and Information Systems Engineering
Research Institutions > Affiliated Institutes > FIM Research Center Finance & Information Management
Result of work at the UBT: Yes
DDC Subjects: 000 Computer Science, information, general works > 004 Computer science
300 Social sciences > 330 Economics
Date Deposited: 17 Dec 2020 08:34
Last Modified: 21 May 2021 06:54
URI: https://eref.uni-bayreuth.de/id/eprint/61192