Technology is dynamically changing across all areas of society. We don’t just increasingly use it, we even rely on it in our personal lives. It is also found that our workplaces are digitally evolving with more and more processes now being undertaken using technology. This change is namely known as the 4th industrial revolution or industry 4.0.
Industry 4.0 industry is one of the big buzzwords that is flying around at the moment. It basically refers to the fourth industrial revolution. We have seen transformative technologies that have changed industry. The fourth industrial revolution sees smart factories with connected machines and intelligent robots.
Cyber-physical systems make the basis of Industry 4.0 (e.g., ‘smart machines’). They utilize modern control systems, have embedded software systems and dispose of an Internet address to connect and be addressed via IoT (the Internet of Things).
Such a way products and means of production get networked and can ‘communicate’, allowing new ways of production, real-time optimization, and value creation. Cyber-physical systems create the performance required for smart factories. These are the same capacity we know from the Industrial Internet of Things like remote monitoring or track and trace.
A look back at History
First industrial revolution
The first industrial revolution basically started in the 1770’s where we moved from hand to machines. From farm to machine from the first factories using steam and water power.
Second industrial revolution
Then a hundred years later electricity arrived, which was the next industrial revolution. This gave us automation, assembly lines, typically a real start of factories. The first moving conveyor was used as long ago in 1870 in the slaughterhouses of Cincinnati Ohio.
Third industrial revolution
Another hundred years later we have the computer which arrived around the 1970’s. The computers have automated some of the work in factories. Production became increasingly based on computer assisted controls.
Industry 4.0
The latest industrial revolution which has been a recent revelation so called as Industry 4.0 is not looking at individual computerized machines but the whole network. The complete digitalization of the manufacturing industry plays a key role in the process. It is more important to operate quickly, flexibly and cost-effectively.
Product life cycles are becoming shorter while product variants are becoming progressively larger. Like large volumes small quantities must be produced economically. The delivery must become faster.
Companies must align their organization much more rigorously to meet customer needs. The companies must start to digitize, automate and interconnect all processes. But not only within the company but also along the entire value chain. Customers and business partners are part of the total process. The goal is to make all relevant data available anytime. It is able to control the whole network of value creation in real time from product planning and product and production development all the way up to production and logistics.
Data security must be assured all times. Synchronizing digital and physical value streams not only increases productivity but also their efficiency, quality and innovative capacity.
Benefits of adopting Industry 4.0 Model
- It makes you more attractive to the younger workforce : Companies which invest in innovative, modern Industry 4.0 technologies are superiorly set up to attract and maintain new workers.
- Your team will become stronger and more collaborative : Companies that invest in Industry 4.0 solutions can increment productivity, increase collaboration within departments, allow predictive and prescriptive analytics, and authorize people including managers, operators and executives to more fully leverage real-time data and intelligence to make good decisions while handling their everyday responsibilities.
- It helps you to address potential matters before they become big issues : The Predictive analytics, real-time data, internet-connected machinery, and automation serves you to become more proactive when it reaches to addressing and solving potential maintenance and supply chain management concerns.
- It allows you to cut costs, increase profits, and boost up the growth : Industry 4.0 technology makes you handle and advance all factors of your manufacturing methods and supply chain. It provides the access to the real-time data and insights you need to make wiser and quick decisions about your business, which can finally increase the efficiency and profitability of your entire work.
Industry 4.0 isn’t new. But unlike before we now have the knowledge and technology for it to become an affordable reality. The industry presents us with many opportunities, challenges and questions.
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