Table 2.

I4.0 Key Performance Indicators chosen for the study through literature

Code	KPIs for I4.0 implementation Risks prioritization	Description	Literature support
P1	Decentralization	The distributed delegation of authorities, facilities, and cyber-physical systems to execute decisions independently with minimal human intervention	Mittal et al. (2019), Morgan et al. (2021)
P2	Integrity	The trustworthiness of the data sources and active resources, compliant with I4.0 standards and procedures is defined as the ability to confirm the accuracy and reliability of the sourced information	Vaidya et al. (2018), Corallo et al. (2020)
P3	Availability	It describes the access to the information by the right person at the right time without compromising safety and security	Birkel et al. (2019), Corallo et al. (2020)
P4	Cost	Cost constitutes the monetary investment in infrastructure development, training, software hardware, technical support, maintenance, service, sensors, networking, and upskilling of the workforce	Mittal et al. (2018), Deloitte (2019), Morgan et al. (2021)
P5	Interoperability	The ability of a system to interconnect, integrate, coordinate, and collaborate in a self-organized mode without any turbulence	Qin et al. (2016), Ibarra et al. (2018), Mittal et al. (2019), Sun et al. (2020)
P6	Virtualization	A simulated platform of a physical system developed using the internet cloud to help a user access a physical system’s characteristics in a virtual environment	Hermann et al. (2016), Siltori et al. (2021)
P7	Adaptability	It is the ability of the system to accommodate, upgrade, and respond to changes in the business environment through a data-driven decision-making process	Bartodziej (2017), Sriram and Vinodh (2020), Sony and Aithal (2020)
P8	Modularity	It is the approach of creating reusable building blocks/coupling or decoupling modules to facilitate production processes, which helps realign and reorganize the production lines as per requirements	Safar et al. (2018), Siltori et al. (2021), Ghobakhloo and Iranmanesh (2021)
P9	Connectivity	It reflects the high-bandwidth internet network, enhancing communication, enabling the effective exchange of data, and facilitating collaboration among all connected devices	Pedone and Mezgár (2018), Castro‐martin et al. (2021)
P10	Service orientation	It is the ability of the company to customize the product based on the customer’s expectations. This requires efficient communication between people and intelligent devices to capture customer inputs	Hermann et al. (2016), Kozak et al. (2018), Pedone and Mezgár (2018)
P11	IT infrastructure	It comprises the devices, networking, machines, hardware, and software that provides seamless and high-speed connectivity needed to support I4.0 requirements, i.e., self-organizing, self-controlling devices IoT, CPS, Software, hardware, etc	Lee et al. (2017), Schuh et al. (2020), Habibi Rad et al. (2021)
P12	Prediction capabilities	It is the ability of the connected devices, hardware, software, and IT infrastructure based on the predefined criteria to interpret, analyze, forecast, and decisions making in real-time	Colli et al. (2019), Habibi Rad et al. (2021)
P13	Flexibility	It can be defined as the degree to handle agility to accommodate last-minute changes. It is the measure of the speed to respond to the changing demand and product adaptation	VanBoskirk (2016), Mittal et al. (2018), Fragapane et al. (2020), Salunkhe and Fast-Berglund (2020)
P14	Quality	It is the measure of efficiency and effectiveness of resource utilization in manufacturing products and services. Adherence to the set standards is ensured by real-time data acquisition, processing, analytics through intensive network connectivity and infrastructure support of IoT devices BDA, CPS, AI, IoT, Cloud uses, VR, AR, etc. The cost of information is always affected by the quality of the network, integration, and collaboration across the system	Bibby and Dehe (2018), Schumacher et al. (2019), Salunkhe and Fast-Berglund (2020)
P15	Information security	It is described as maintaining the privacy and safety of the business information and data from any theft or unauthorized sharing. This information access is granted to a few authorized personnel when needed, and the data is stored and edited through standard procedures defined for verification, processing, and validation. The data collected from all the sources in the whole system should be handled securely	Geissbauer et al. (2016), Kagermann, (2015), Culot et al. (2019), Bai et al. (2020)
P16	Capacity to make real-time decisions	The intelligent factory can collect, store, analyze and process information and extract meaningful insights from the collected data to be used for making real-time decisions	Lee et al. (2017), Lu (2017), Cohen et al. (2019), Eslami et al. (2021)