The Prioritisation Matrix
Published by the Singapore Economic Development Board in 2020, with support from Fraunhofer Institute, McKinsey & Company, SAP, Siemens and TÜV SÜD. The paper introduces the TIER Framework and the SIRI Prioritisation Matrix so manufacturers can identify which Industry 4.0 / SIRI dimensions will deliver the most benefit after they have used the SIRI Assessment Matrix. A 2018 McKinsey survey cited in the paper found that 75 per cent of manufacturers recognised that Industry 4.0 solutions could improve performance, while only 13 per cent had embarked on Industry 4.0 initiatives.
Key Insights
Critical data points from Smart Industry Readiness Index | The Prioritisation Matrix.
75% recognised Industry 4.0 value; 13% had started
Four principles for holistic Industry 4.0 prioritisation
Prioritisation Matrix ranks high-impact SIRI Dimensions
3 building blocks, 8 pillars, 16 dimensions
Singapore Economic Development Board (EDB)
Key Findings
Major discoveries and conclusions from Smart Industry Readiness Index | The Prioritisation Matrix.
Awareness has not become implementation
75 per cent recognised that Industry 4.0 solutions could improve performance; 13 per cent had embarked on initiatives.
TIER is the conceptual frame
Today’s State, Impact to Bottom Line, Essential Business Objectives, References to the Broader Community.
The matrix is a planning tool, not a replacement for SIRI assessment
Use it after the Assessment Matrix to compare Impact Values across SIRI Dimensions.
Impact combines cost, KPIs and proximity to best-in-class
Weighted cost factor, weighted KPI factor, and weighted proximity (best-in-class minus Assessment Matrix Score).
Executive Summary
A concise overview of the report's scope, methodology and conclusions.
Manufacturers’ understanding of Industry 4.0 has grown, but many still cannot turn that knowledge into an actionable transformation plan. The paper cites a 2018 McKinsey survey: 75 per cent of manufacturing companies recognised that Industry 4.0 solutions could improve business performance, while only 13 per cent had embarked on Industry 4.0 initiatives. Companies that had completed the SIRI Assessment Matrix reported the same uncertainty about next steps.
That gap is usually due to the lack of an overall Industry 4.0 roadmap. Prioritisation is required to identify focus areas that generate the greatest value, support decision-making, and allocate resources. The TIER Framework sets out four principles for holistic prioritisation: Today’s State, Impact to Bottom Line, Essential Business Objectives, and References to the Broader Community.
The Prioritisation Matrix then turns those principles into a management planning tool. It compares Impact Values across SIRI Dimensions so companies can identify the high-priority dimensions where improvement will bring the most benefit.
What's Inside
Explore the chapters and sections covered in this report.
Dr Beh Swan Gin, Chairman, Singapore Economic Development Board.
TIER Framework and the Prioritisation Matrix as a response to the awareness–implementation gap.
LEAD — Learn, Evaluate, Architect, Deliver; SIRI background from 2017.
TIER: Today’s State, Impact to Bottom Line, Essential Business Objectives, References to the Broader Community.
Management planning tool to identify high-priority SIRI Dimensions after the Assessment Matrix.
Step-by-step inputs: Assessment Matrix Score, cost profile, KPIs and best-in-class benchmarks.
Industry profiles used as reference with the matrix.
Company A high-impact dimensions: Vertical Integration, Horizontal Integration, Shop Floor Intelligence, Leadership Competency.
TIER and the Prioritisation Matrix as a systematic way to reduce uncertainty in Industry 4.0 roadmaps.
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What You'll Learn
- The four TIER principles for Industry 4.0 prioritisation
- How the Prioritisation Matrix compares Impact Values across SIRI Dimensions
- How Assessment Matrix Score, cost profile, KPIs and best-in-class benchmarks feed the formula
- How an illustrative company case maps to high-impact SIRI dimensions
- Industry reference profiles used with the matrix
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