What does operational excellence mean in the Fourth Industrial Revolution era?

Abstract

Although the term Operational Excellence (OE) has been widely applied over the past few decades, its meaning is still ill-defined. This issue may be especially aggravated after the advent of the Industry 4.0 (I4.0), which introduces disruptive digital technologies that may help to overcome traditional barriers in operations management. This paper examines the concept of OE in the Fourth Industrial Revolution. For that, we conducted semi-structured interviews with experts from both academia and manufacturing companies, focusing on the shifts in OE's concepts implied by the I4.0 with regards to four key aspects (people, partnerships, processes, and products and services). Experts’ responses ha..