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This book provides a comprehensive overview of potential opportunities and the business value position related to implementing physics-based real-time simulation to production.

This book provides a comprehensive overview of potential opportunities and the business value position related to implementing physics-based real-time simulation to production.

In the conditions of the modern market economy, in which globalization and competition are rife, quality is of great importance for determining a company's position in the market. The changing and complex economic reality is shaping new market patterns while modern technologies influence purchasing decisions. This book presents an effective and novel framework for creating value in Industry 4.0 conditions by building a smart enterprise model using quality management theories.The book explores tools and platforms that can be utilized to contribute to the creation of the ideal quality for demanding customers, using case studies from international contributors. It proposes novel architectures that drive economically viable production and services businesses, addressing unique Industry 4.0 and 5.0 solutions in Internet of Things (IoT) that involve the entire spectrum of analysis, with a special focus on lean methodologies and cybersecurity.This original book will be valuable reading for researchers and scholars in the areas of quality management, manufacturing, production, and operations management.