Transition 4.0 and the Smart Industry Readiness Index (SIRI)
Industry 4.0 is accelerating, but many companies struggle to understand its value and how to apply it concretely. Questions like “What is Industry 4.0?”, “Where do we start?”, and “What are the opportunities for improvement?” are common among businesses that want to adopt these solutions.
The Smart Industry Readiness Index (SIRI) was developed to address these challenges. It’s a structured framework that helps companies evaluate their digital maturity level and identify practical steps for improvement. Based on three fundamental pillars (Process, Technology, and Organization), SIRI also includes an Assessment Matrix, a tool that balances technical rigor and practical applicability, defining end goals and intermediate steps for continuous improvements.
SIRI is a structured framework designed to help businesses assess their readiness for digital transformation and the adoption of Industry 4.0 practices. Originally developed by the Singapore Economic Development Board (EDB) in collaboration with industry experts, SIRI provides a standardized and practical approach to analyzing the digital maturity of companies. Among the partners who contributed to its development is TÜV SÜD, a global certification body with a strong focus on quality, safety, and sustainability. This collaboration has allowed for the integration of high-quality standards and a practical approach to evaluating the capabilities of businesses in the context of Industry 4.0.
SIRI offers companies numerous benefits on their path to digital transformation. These include:
-
Competitive Benchmarking: It allows companies to compare their performance against competitors, precisely identifying areas of strength and areas for improvement.
-
Strategic Focus: It helps organizations focus on initiatives with the maximum strategic impact, ensuring optimal use of available resources.
-
Flexibility: It’s applicable at any stage of the digitalization process, regardless of the initial technological maturity level, making it suitable for companies of all sizes and sectors.
-
Education and Knowledge: It provides a clear understanding of the fundamental principles, key technologies, and tangible benefits of Industry 4.0, thanks to a structured framework based on three pillars, eight fundamental dimensions, and 16 key parameters.
-
Practical Guidance: It offers a detailed roadmap to progressively achieve desired goals, allowing for targeted and continuous improvements.
-
Common Language: It eliminates the confusion associated with technical terminology of Industry 4.0, creating a standard language that facilitates communication among different stakeholders, both internal and external to the company.
-
Transformation Support: It improves collaboration with technology providers, making it possible to identify priorities, fill gaps, and plan structured transformations effectively.
The SIRI assessment methodology is based on five key principles that guide a structured and flexible approach to analyzing a company’s digital maturity:
-
Current State as a Starting Point: SIRI provides a clear and detailed overview of the company’s current state of digital maturity, focusing on the present rather than future projections.
-
Standardized and Open to Innovation References: It uses Industry 4.0 principles as a reference base, but without excluding emerging concepts and technologies that could affect the industrial landscape.
-
Comprehensive and Customizable Coverage: All dimensions of the framework must be examined, with proportional attention to their relevance for the specific sector and the company’s strategic priorities.
-
Flexibility in Results: Reaching the maximum level in all dimensions is not a universal goal; companies should focus on levels that reflect their needs and ambitions.
-
Continuity Over Time: SIRI is conceived as a dynamic and iterative tool, to be used periodically to support continuous improvement and adapt to changes in the business context.
To know more, visit EDB Singapore - The Smart Industry Readiness Index.