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The World Economic Forum: Shaping the Future of Advanced Manufacturing & Production

Catalysing Manufacturing Transformation through Smart Industry Readiness Index (SIRI)

The World Economic Forum (WEF) and the Economic Development Board of Singapore (EDB) together with McKinsey, Siemens and TÜV SÜD have jointly embarked on a project to proliferate the global adoption of the Smart Industry Readiness Index (SIRI) as the internationally recognised framework to help the manufacturing community accelerate digital transformation by adopting Industry 4.0 (I4.0) globally.

What is the goal of the initiative?

The goal is to establish a single standardised framework for manufacturers worldwide to evaluate and benchmark their manufacturing facilities to start, scale and sustain their I4.0 transformation. To proliferate the global adoption of SIRI, McKinsey, Siemens and TÜV SÜD committed to conduct 1,000 SIRI Assessments in 2021 by Certified SIRI Assessors.

What are the challenges of adopting I4.0?

From our experiences and market analysis, most companies struggle to start and scale a systematic transformation due to:

  • Limited understanding of technology and vendor landscape
  • Lack of people, skills & knowledge

How can SIRI support the industry?

SIRI enables manufacturing companies to act on I4.0 through effective initiation of I4.0 transformation spanning process, technology and organisation by

  • Building knowledge and establish a factory specific interpretation of key principles, concepts, and technologies of I4.0
  • Understanding I4.0 readiness of the factory and how to improve systematically
  • Increasing employee commitment to change      

How does SIRI work? 

SIRI comprises a 2-days workshop with the factory’s leadership team.

  • The first day consists of an introduction to I4.0 and the assessment of the respective factory according to the 16 SIRI Dimensions (Assessment Matrix).
  • The second day covers the prioritisation of factory KPIs and identification of focus areas.

Improving these focus areas would have the biggest impact on the factory’s performance. The workshop is conducted by a Certified SIRI Assessor and one supporting function.

Why is there a need for standardised I4.0 framework?

  • SIRI establishes a common language amongst different stakeholders, companies and countries and therefore facilitates the communication through the definition of common terminology and the identification of shared goals – a pre-requisite for I4.0 transformation within a global value chain.
  • I4.0 benchmarking needs to be based on a global standard and helps companies to understand better the I4.0 landscape. By comparing within their industry but also with other sectors, companies are being inspired to learn from others.
  • An international framework that is accepted by the global manufacturing community gives individual companies, government agencies and industry associations the required confidence to use SIRI as a strategic tool to start and scale digital transformation.

To initiate Industry 4.0 transformation and implement SIRI for your organisation, find out more here


 

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