Singapore unveils Prioritisation Matrix planning tool to guide firms in Industry 4.0 transformation

COMPANIES unsure of how to embark on their Industry 4.0 transformations now have a clearer guide in the form of a Prioritisation Matrix planning tool developed by the Economic Development Board and its knowledge partners.

Companies are first evaluated on their Industry 4.0 readiness levels across 16 dimensions using the existing Assessment Matrix. Then, the Prioritisation Matrix takes into account the Assessment Matrix scores, revenue-cost profiles, key performance indicators and proximity to the best-in-class in each to identify which dimensions they should focus resources on to gain the greatest benefits to their businesses.

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Source: The Straits Times - 🏆 8. / 63 Read more »