Challenges and Opportunities for Lean 4.0 in Indian SMEs: A Case Study of Jharkhand

The SME sector is India's economic backbone and plays a critical role in insulating the nation from shocks and difficulties in the global economy. The development of India's economy depends heavily on the country's small and medium-sized businesses. Because of this, SMEs must embrace lean to survive in today's global business environment. Companies need new standards to address the requirements of increased customization and product variety; diversified markets; shorter product life span and development time; responsiveness toward customers; and waste minimization, which are increasingly becoming key features. These requirements are needed to survive in the present global scenario. By concentrating on their plans for continuous improvement in all areas of business and simultaneously improving their manufacturing processes by reducing waste prevalent at all levels, companies can improve their performance in the aforementioned areas. It is necessary to pinpoint the problems that, in the context of the Indian SME sector, would result in the approval of lean. Concentrating on Indian small and medium-sized business organizations, this chapter tries to identify the obstacles to lean 4.0 implementation and rank the factors that affect the system deployment in a business organization. The study emphasizes the difficulties Jharkhand's SMEs had implemented the lean method.