Production modernization in context of digitization

Abstract

In the context of globalization, with a rapid technology developement and fast economy development caused new wave of changes. In common word it is know as „Industry 4.0“. The term was announced to mark new industry revolution. A lot of industry, production organizations are analyzing this concept, altough Industry 4.0 reaching criteria is still uknown. This article is focusing to fundamental Industry 4.0 concepts, nowadays production systems. Also fundamental production concept, supply chain structure and costumer service direct effect to production will be reviewed, in order to understand how digitization can effect production process. The biggest part will be dedicated to Industry 4.0 concept formulation, distinguished and formulated main digitization characteristics. Scientific literature peer review method will be used to analyze Industry 4.0 concept, comperative analysis will be used to distinguish Lithuanias production trends towards digitization.