Leveraging technology to build the pillars for Industry 4.0 towards enabling a digitally integrated supply chain.
We are at the beginning of the fourth industrial revolution. The most commonly used terms to describe this development, which is rapidly changing the industrial landscape, are Industry 4.0, smart manufacturing, the Internet of Things, cyber-physical systems and digital transformation. The Industry 4.0 concept encompasses the digitalization of the horizontal and vertical value chain, innovation in products and services and the creation of new business models. The key business drivers of this transformation include improving customer experience, increasing speed to market and reducing costs.
Industry 4.0 will change the entire manufacturing system, from the architecture and organizational structure to products, services and business models. The development and deployment of these solutions will be incremental and part of a long-term trend, but the opportunity is already here today. Companies that fail to educate themselves on these new technologies and invest in pilot projects will lose their competitive advantage and miss the opportunity to lead the transformation that is currently sweeping across the manufacturing industry. If you have not yet begun on this journey, you must start today.
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