The digital transformation of manufacturing/production and allied industries, as well as value creation processes, is known as Industrial Revolution 4.0. It refers to the transformation of information-intensive manufacturing in a connected environment of big data, people, processes, services, systems, and IoT-enabled industrial assets. With the current generation, it leverages and utilizes actionable data and information as a way and means to realize smart industry and industrial ecosystems of innovation and collaboration.
A few highlights of Industry 4.0:
- Cyber-physical systems, enabled by Industrial IoT, are linking the physical and digital worlds.
- Change from a centralised industrial management system to one in which smart products determine the manufacturing processes.
- Control Systems and closed-loop Data Models.
- Customization of Products
Today’s electronics manufacturers benefit from Industry 4.0 by developing new technologies and products, as well as transforming existing production capacities to become more flexible and responsive to changing market dynamics. This Smart Factory Manufacturing technique results in:
- Boosting Productivity
- Invites new & fresh Business Models
It’s crucial to remember that Industry 4.0 isn’t just about introducing new technology to the factory floor – it’s also about harnessing the data that already exists across the whole supply chain to enhance specific processes in ways that benefit the larger picture.