Title: Industry 4.0 Model for achieving Circular economy
Speaker: Dr. Shubhangini Rajput, Assistant Professor, FORE School of Management (FSM), Delhi.
Day, Date, and Time: Monday, 11th September, 2023, 10:00 AM to 11:00 AM.(Online mode)
Talk Abstract: In today's competitive scenario, the manufacturing industries are lagging behind in implementing Industry 4.0 concept or in integrating smart, ubiquitous components due to high cost and high energy consumption due to the volatile market. The digital transformation has reshaped the manufacturing industries and has paved the way toward data-driven, intelligent, networked, and resilient manufacturing systems. In this context, Industry 4.0 is progressing exponentially and offers a productive output in terms of circular economy and cleaner production to attain ethical business by achieving accuracy, precision, and efficiency. Hence, there is a strong requirement to revamp the traditional manufacturing set-ups into smart manufacturing to gain self-adaptability, reliability, and flexibility with high-quality and low-cost output. The study proposes a mixed-integer linear programming (MILP) model for Industry 4.0 setup to achieve a circular economy by optimizing product-machine allocation. The proposed MILP model optimizes the trade-off between energy consumption and machine processing cost to gain a circular economy. The proposed model also integrates sensor deployment to capture real-time information for establishing Industry 4.0 facility. The study discusses the product-machine specific analysis to optimize the manufacturing of customized and high-end products at low production costs with minimal energy consumption. The objective of the study is to minimize the total cost and energy consumption of machines for establishing an Industry 4.0 facility to gain a circular economy. The proposed model is demonstrated and computationally tested on small, moderate, and large data instances and presented with their detailed analysis.
Bio: Dr. Shubhangini Rajput has been working as an Assistant Professor in the area of Quantitative Techniques and Operations Management at the FORE School of Management (FSM). Prior to joining FSM, she has been working with Jaypee Institute of Information Technology, Noida in the Operations area and also gained industrial experience. She has completed her PhD in Operations from IIT, Delhi. She is a visiting research fellow at Newcastle University Business School, UK. She has qualified for the National Eligibility Test (NET) in Management conducted by UGC in the first attempt. She has to her credit many publications in the reputed journals of Springer, Elsevier, Taylor & Francis, and Emerald. She has presented her work at international conferences organized by Global Conference on Flexible Systems Management (GLOGIFT) and Global Conference on Cyberspace (GCCS). Her research work on circular economy and cleaner production was also published in Press release and TechAmbit, IITD, and recognized as India's vision of a self-reliant economy. She has been awarded a Certificate of Reviewing in recognition of the review contributed to the Resources, Conservation, and Recycling Journal, Elsevier. Additionally, she is also a member of the Centre of Operations and Supply Chain Management at FSM working in launching the certification courses.