As recent shocks, e.g., the COVID-19 pandemic and international conflicts prove, the environment of supply chains gets more volatile and static configurations suffers from fragility. Higher variety, shorter product life cycle, increasing competition, fragility of supply chains and further issues present companies with new challenges. The application of information and communication technologies plays an important key role for companies in solving today’s challenges. In this context, the combination of conventional methodologies like Lean Management (LM) and modern technologies according to Industry 4.0 is an important field of recent research. Especially, the application of Value Stream Management (VSM) in dynamic environments is widely investigated and different approaches are provided for taking information logistics into account as well as utilizing data for improving the methodology at all. Limitations of the conventional VSM are the basis for justifying the transformation to a VSM 4.0. A critical evaluation of measures for the transformation from the conventional VSM to VSM 4.0, based on a comparison of benefits and efforts for reasoning the transition from a company’s perspective is missing. Aim of the paper at hand is the provision of an evaluation framework for companies, already applying the conventional VSM.