5 Reasons Why Industry 4.0 Should Be On Your Organization’s Agenda
Created on December 17, 2018
Automationbagged the global limelight when Professor Klaus Schwab – Founder &Executive chair World Economic Forum -said at the 46th Annual Meeting of the World Economic Forum in Davos hinted that the era of automation brings a new paradigm of challenges and opportunities with it. Welcome to Industry 4.0.
Historically, fewer interventions and inputs were needed as technology evolved and made work faster and simpler. In the ever-evolving and interesting hierarchy of Simplicity Vs Complexity, the predictable, simplest, and repeatable tasks were always the first ones to be automated. Anything that was complex and abstract came under the visionary radar at a later time.
This thumb rule means that Industry 4.0 — the new revolution everyone is talking about — will emphasize primarily and initially on the predictable, simplest, and repeatable tasks before moving on to the complex and abstract tasks.
- Better value for investments: Why Industry 4.0? Industry 4.0 has the potential of dramatically reducing human-interface related expenses. The Fourth Industrial Revolution or Industry 4.0 has the potential of eliminating different phases of employee lifecycle associated activities like engagement efforts and activities, learning and development, etc.
- Helps in identifying profitable markets: Market experts and even critics strongly believe that Industry 4.0 has the amazing potential to help manufacturers identify new and exciting profitable markets, which were previously either non-existent or unknown or under-utilized. Furthermore, Industry 4.0 can provide the leverage to manufacturers across the globe to use fewer raw materials and lesser energy while enhancing productivity at the workplace.
- Better customer experiences: The plethora of available options and opportunities with Industry 4.0 in the context of deep information and responsiveness mean manufacturers of small as well as big factories can provide better products and services to the end consumers. Moreover, detailed and in-context data from manufacturing execution systems can facilitate an easy and solid foundation to promptly resolve existing and potential issues between consumers and manufacturers.
- Industry 4.0 will help in creation of better and innovative products: Manufacturers are eyeing humongous cost savings and profits thanks to Industry 4.0. With added intelligence to their production lines, the possibilities to go much beyond just product optimization are simply endless. This will encourage manufacturers to create better and innovative products to make lives of consumers better, simpler, and more meaningful.
- Industry 4.0 changes the basis of competition in manufacturing: This possibly sounds like a complete overstatement for a bright and futuristic vision. However, the concept of Industry 4.0 (also referred by some as Industrie 4.0) is vastly blessed by the ability to fundamentally alter the equation for the manufacturing sector like never before.
Industry 4.0 will help manufacturers get benefited from lower costs, improved efficiency, increased innovation, and higher revenues that will be characterized by greater agility without compromising on cost, speed, or quality. This will help organizations innovate more smartly and rapidly andmake more profits and gain greater revenues.
The future with Industry 4.0 is bright and shaping up now. It offers a wonderfulpool of opportunities to explore. Organizations that are quick to shake off thefears will lead the way and define the future. Are you one of them?
Call us now at 1 (855) 928-2283to find out how NetObjex can help you realize the full potential of Industry 4.0.