Measuring the fourth industrial revolution through the Industry 4.0 lens: The relevance of resources, capabilities and the value chain

The present study presents an Industry 4.0 measurement model that is applied to a sample of Portuguese companies from several economic sectors beyond manufacturing. An Industry 4.0 measurement scale is developed through a three-step methodology that relies on a mixed-methods approach. Five constructs are identified from literature, together with respective measurement indicators: IT strategy and cybersecurity, enablers, smart factory, value proposition and customer experience. These constructs are subsequently deepened in a qualitative study where second order dimensions are identified and the measurement scale is extended and validated. The model is applied in a quantitative study, the conclusions of which suggest some realignment in the initial constructs. Finally, an Industry 4.0 maturity index is derived. Industry 4.0 maturity is measured from the firms' ability to deploy capabilities and resources to impact on the value chain.