Industry 4.0 as a Solution to Increase the Labour Productivity of Moldovan Enterprises

Abstract

Labour productivity expresses both the efficiency of using human resources and the synthetic expression of the efficiency of using production factors in activities that result in economic goods. The analysis of the dynamics of the industry of the Republic of Moldova shows that although the value of manufactured products increases simultaneously with the increase in the number of people employed in industrial activities, the indices of labour productivity growth are in stagnation. Our analysis show that in the medium term, the growth of employment will be accompanied by an increase in the labour shortage. The demand for labour will grow rapidly, while the supply of labour will have an anaemic evolution. At the same time, the indicators of investment in the development of material production technological potential (engineering structures, machinery and equipment) and intangible (technology, know-how) show that the decrease in labour productivity is due, first of all, to these components. Thus, taking into account the forecasts of the evolution of demand and supply in the labour market, it is expected that the decline in labour productivity in the industry of the Republic of Moldova will continue. We consider that in order to ensure sustainable development of the industry of the Republic of Moldova, it is advisable to promote and widely implement, including in small and medium-sized enterprises, the principles of the Industry 4.0 paradigm based on digitalization and, automation of production processes. These measures will allow to solve the problem of labour shortage observed in Moldova, as well as to bring the level of industrial and technological development to a globalised competitive level. UDC: [331.101.6:331.5]:[004.89:334.72](478); JEL: J2, O1, O3.