In the manufacturing industry, efficiency is key to creating profitable business. As technology continues to change and develop, industry 4.0 is increasingly beneficial to your manufacturing organisation.
What is industry 4.0?
Industry 4.0 is the moniker for today’s technological presence and automation within manufacturing. Including cyber-physical systems, the internet of things (IoT), cloud computing and cognitive computing. The culmination of these predominant technologies creates what the industry has named ‘smart factories’. Smart manufacturing within smart factories will affect the manufacturing process across many elements including:
- services and business models
- IT security
- machine safety
- product lifecycles
- customer relationship management
Emerging technologies benefit manufacturing organisations by allowing for higher productivity, better visibility and insights and lower costs.
How does industry 4.0 benefit manufacturing organisations?
Industry 4.0 has transformed manufacturing with its facilitation to interconnected factories where equipment has built-in artificial intelligence and is all online. This digitisation affects every element of operations and the supply chain. Starting with equipment and product design, through to processes, improvements and the monitoring of the end users experience. Industry 4.0 can revolutionise your manufacturing business with IoT.
Embody connected manufacturing processes with smart factories. Connectivity improves field service in industry 4.0 with access to sensor data ensuring the right technicians and tools are dispatched before potential issues become a major problem. Connecting information with operational processes awards in-depth insights into potential improvements of your manufacturing processes. Data collection from individual factory floors or manufacturing plants can indicate low stock, allowing you to better manage your stock orders and supplies.
Gain real-time insights to streamline the management of assets, products and production. Industry 4.0’s smart manufacturing informs you of which product is most in demand by tapping into retail information to gain real-time insight into which products or product components sell best. This consolidated view provides real-time insights which allow manufacturers to take advantage of their connected devices and resolve issues quickly.
Accelerate your manufacturing business with the power of IoT. With smart manufacturing, information is gathered from the internet of things to optimise every stage of your production process for the most efficient use of your time and resources. Industry 4.0 brings better visibility, meaning your supply chain operations can be fully optimised.
Engage your customers in powerful new ways with the manufacturing ecosystem. By engaging industry 4.0 technologies across the customer life cycle, manufacturers can improve customer loyalty and the quality of the customer experience. Incorporating powerful technologies allows manufacturers to better react to their customer demands with more flexible manufacturing processes. As a result of in-depth customer insights, manufacturers can reduce the administration costs of selling, and increase productivity.
To learn more about the 7 emerging technology trends transforming the manufacturing landscape and how you can harness industry 4.0 for your manufacturing business: download our white paper here.