Industry revolution 4.0 and digital transformation - it’s implementation, opportunity and challenges in Bangladesh textile industry

Abstract

The latest vide in the global industrial sector is the fourth industrial revolution termed as Industry 4.0 and the transformation that the manufacturing and service industries are going through. Hence, a big question arises about the impact of the fourth industrial revolution on Bangladesh textile and apparel industry and trade. Many analysts are enquiring whether the textile-apparel industry of Bangladesh is ready for the Industry 4.0 or not. The textile industry worldwide is currently experiencing the effects of digitalization and implementation of Industry 4.0 practice, which resulting in increasing individualization, networking of devices and people as well as progressive automation of production and logistics processes are increasingly coming into focus. Technological innovations and changing customer expectations require new business models and organizational principles in the textile industry. Now the question comes in front that “Is Bangladesh ready to accept Digitalization and Industry 4.0”? And the answer is Yes. We are ready for the digitalization and industrial revolution 4.0. In the situation of covid-19 corona pandemic we are all adopting the new technologies and ideas to recover. We are adopting new transformation ideas such as online shopping with zero contact, virtual office, online class, working from home, etc. concept. This will be helped us to face the upcoming trend of digitalization tools and processes and industry revolution 4.0 in textile industry. Keeping this in mind, this research paper is designed for the implementation, opportunities and challenges of the digitalization and Industry 4.0 practices for Bangladesh textile industry.