We are in the midst of fourth industrial revolution. And voila, we call it Industry 4.0 or manufacturing 4.0. It has been found to be interconnected with the manufacturing industry a lot lately. To put it in a cowry, Industry 4.0 has been a chandelier while driving next gen technology across different operations.
What’s the concept of industry 4.0? We can term Industry 4.0 as the collaboration of manufacturing and IT operations.
If you fail to adopt to the technological urges, you would be missing on a bumper potluck of opportunities. All your operations would fall behind the fury of your competitors by enabling automation in industry 4.0 as well as smart factories in industry 4.0.
Industry 4.0 cloud has got a lot more advanced while connecting various devices meant for trackability and traceability. When a single manufacturing line would cause a delay, you can update it automatically on your system. You can also adjust your production plan in real-time with no human intervention. It would only be on the basis of exception-oriented scenarios with smart factory industry 4.0.
Needless to say, Industry 4.0 and artificial intelligence can offer long-term benefits for every manufacturers. The future of industry 4.0 is oriental when digital transformation and industry 4.0 goes hand-in-hand.
The Industrial Revolution is split into 4 different segments:
First Industrial Revolution -> 1784 -> Production of steam engine
Second Industrial Revolution -> 1870 -> Mass production
Third industrial Revolution -> 1969 -> Digital revolution involving PLC
Fourth industrial revolution -> Early 20s -> Technological revolution
We are in the midst of industrial revolution 4.0.
When businesses are not opting to act, they would definitely fall prey to competition.
With the emergence of new digital age, many businesses are on the verge of improving their business cost. They have also gone on to become more customer centric while driving overall agility. With Industry 4.0, you can meet a number of objectives.
How does Aviation industry work with Industry 4.0?
Airline 4.0 marks the new era of digitization, IoT and automation in the aircraft industry. With above 5000 sensors, a modern aircraft engine can generate a data of nearly 10 GB per second. This can improve key components of aircraft performance. Aviation industry requires plenty of safety measures. Hence Airlines 4.0 can transform the manufacturing unit of the aviation industry excessively.
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With plenty of reasons on why businesses should start adopting to industry 4.0, let’s take a look at the primary reasons:
Being cost efficient: Do you know that around 90% of manufacturers in Europe would consider unplanned downtime as well as maintenance emergency as sudden business failures? This would worsen further while there are scarce business skills as technicians and engineers would retire or leave. Hence there wouldn’t be much experience left among the people. To resolve all these issues, every company can go on and choose an ERP system such as SAP with machine learning capabilities. This can let you monitor all the assets while predicting maintenance requirements before any major breakdown.
Being customer centric: The consumers have become extremely demanding with respect to the service they offer as well as product customisation. With this in place, every CP companies would become more agile and responsive in the way they function.
Involve Cost efficient processes: Handle machine monitoring with efficient predictive maintenance strategies in place. With high-end operational technology, every manufacturer can decrease their overall downtime, increase their throughput and reduce the overall cost spent in quality parts.
Democratize your Data: Manufacturing has dealt with the dearth of siloed data not just in the form of separate departments but across different hierarchies. While you can enjoy the benefits of connectivity and accessibility to different data sources, you need to adopt the best ways to leverage the data to make the right decisions.
Enable Operational flexibility: The core responsibility would be to react as the demands keep fluctuating, adapt to new production trends, fix the skill gaps, along with unpredictable business challenges faced by different manufacturers. When you have the right support of top technologies, every manufacturer can experience success and productivity. New technologies such as cobots, a collaborative robot that can let you complete robotic tasks and robots meant for handling operational tasks can let you complete the tasks with less human error.
Document and trace: When you leverage digitized information, you can store endless manufacturing data through cloud. Converting all manual information through digitized data collection system can let you train new employees using legacy knowledge. You can build advanced algorithms through historical data. With unlimited options, you can store the data and access it while building different solutions.
Retain your customers: There has been an increase among customer expectations while consumers and suppliers have a lot to do with increasing product quality. When you want to rise your overall demands, every manufacturer would have to adopt to the current technology while supporting product development, customization and after-sale service.
Data is the new source of business booster: Many corporate giants have excelled to new heights in business through collection and analysis of data. Major industries have been able to access the business data but they aren’t capable enough to make the best out of it. Plenty of Consumer Products (CP) firms have been able to get insights on the business benefits. Businesses have been able to enhance the data quality to ensure that they plan in an efficient manner. When businesses improve the demand baseline forecast, they were able to reduce the need for holding excessive inventory goods. This went on to reduce their working capital as well.
Increase your competitiveness: When you outsource to different low-wage regions across the world, you can let competition surge among the industry. With Industry 4.0, manufacturers would be in a position to choose different locations on the basis of technical capabilities as well as consumer demand-based proximity. Their decisions would not be just on the basis of wages.
Increase your productivity: With automation, machine-learning algorithms and analytics have taken up the step-by-step work from different human operators. This can lead to quick and efficient production with humans just around the corner maintaining and monitoring all the systems.
Increased revenue and profitability: Industry 4.0 can lead on to quality production process while enabling preventive and predictive upgrades and maintenance. This can easily lead to less capital and lower downtime as time goes on.
Manufacturing process optimization: When there is better connectivity, analytics and shared data, you can collaborate closely along the complete supply chain, leading on to optimization, efficiency and innovation.
Seamless regulatory compliance: With better data analysis, you can handle better search capabilities and record archiving. This can lead on to better customer satisfaction.
The Industrial Revolutions would be shaping the world on the basis of Worldwide economies. With many projects and programmes implemented across the globe, you can focus on helping different people achieve their everyday targets.
Industry 4.0 technologies involve Artificial intelligence, Machine learning, Predictive maintenance and much more. Businesses are adopting to Industry 4.0 manufacturing in this new age with the right ERP Solutions which can give you the right pathway to industry 4.0 and digital transformation.
Want to grow closer to Industry 4.0 and know more about industry 4.0 applications? Are you looking for the right industry 4.0 solution providers? Involve SAP solutions for your small and medium businesses to stay industry 4.0 ready. They can let you skyrocket your business to the next level. We can also help you mitigate the challenges in Industry 4.0. Contact us for more help.
Every industry leader would look forward to ways through which the business can respond to better business dynamics including consolidation, globalization and acquisition. Collaborate with iQuantM for the best SAP Software solutions for wholesale industry.