Industry 4.0

Industry 4.0 refers to a new phase in the Industrial Revolution that focuses heavily on interconnectivity, automation, machine learning, and real-time data. Industry 4.0, also sometimes referred to as Industrial Internet of Things or smart manufacturing, marries physical production and operations with smart digital technology, machine learning, and big data to create a more holistic and better connected ecosystem for companies that focus on manufacturing and supply chain management. While every company and organization operating today is different, they all face a common challenge, that is, the need for connectedness and access to real-time insights across processes, partners, products, and people. Industry 4.0 isn’t just about investing in new technology and tools to improve manufacturing efficiency, it’s about revolutionizing the way your entire business operates and grows.

 Skill set required :

• Ability to scale IT infrastructure.

• Ability to reach consensus, that is, central data and analytics.

• Ability to change processes, that is, business process management.

• Ability to connect from production to management.

• Ability to analyse performance.

• Ability to cooperate.

Industry 4.0 Challenges and Risks:

• The rethinking of the organization and processes to maximise outcomes.

• Understanding the business case.

• Conducting successful pilots.

• Making the organization realize action is needed.

• Change management, so often overlooked.

• A true interconnection of departments.

• The challenges regarding the integration of IT and OT.

• Managing risk and lowering costs in uncertain times.

Real-World Examples of Industry 4.0 in Digital Manufacturing:

• BJC HealthCare adopts for IoT for inventory and supply chain management.

• Big Data decision-making at Bosh Automotive factory in China.

• Volkswagen creates Automotive Cloud.

• Fetch Robotics help DHL improve warehouse operations.

• Fast Radius’ digital additive manufacturing solutions to enable new business models.

• Augmented Reality increases productivity at General Electrics