ABSTRACT
The term Industry 4.0 indicates the enormous impact of the current trend of automation and massive embedded data exchange with internet technologies on the contemporary industrial practice, while lean production stands for a management philosophy derived from the Japanese automotive industry aiming to achieve customer satisfaction at a low cost of time and money (Kovács, 2020). Today, the LP approach faces challenges of the growing complexity of the global market. To ensure a long-term success, companies need to adapt to shorter delivery time, increasing product variability and high market volatility, and react to continuous and unexpected changes sensitively and timely at reasonable costs (Moeuf, et al., 2020).
In this chapter, we introduce the core theoretical frameworks and their applications in industrial practice. Finally, we discuss how Industry 4.0 technologies could be implemented in a production setup with a LP structure and demonstrate possible results with a case study.
