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 IIoT 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.
Industry 4.0 solutions give businesses greater insight, control, and data visibility across their entire supply chain. By leveraging supply chain management capabilities, companies can deliver products and services to market faster, cheaper, and with better quality to gain an advantage over less-efficient competitors.
Industry 4.0 solutions give manufacturers the ability to predict when potential problems are going to arise before they actually happen. Without IoT systems in place at your factory, preventive maintenance happens based on routine or time. In other words, it’s a manual task. With IoT systems in place, preventive maintenance is much more automated and streamlined.
Industry 4.0 solutions help manufacturers become more efficient with assets at each stage of the supply chain, allowing them to keep a better pulse on inventory, quality, and optimization opportunities relating to logistics. With IoT in place at a factory, employees can get better visibility into their assets worldwide.
Industry 4.0 will help make smart machines smarter, factories more efficient, processes less wasteful, production lines more flexible and productivity higher. Built on the foundation of smart, secure, wireless connectivity there are opportunities to extend machine life through predictive maintenance.