Understanding industry revolution: Convergence 2017

Exploring the world of connected enterprises: Industry 4.0

Manufacturers are facing challenges on multiple fronts. Advanced manufacturing is ushering in the new age of physical production. Increased connectivity, improved data gathering, and analytics capabilities enabled by IoT are leading a shift towards an information-based economy. Combine these with physical objects and it’s possible to build smarter supply chains, manufacturing processes, and even end-to-end ecosystems.

Each of the past industry waves has shaped the competitive landscape, and the latest wave is no different. It has forced manufacturers to decide how and where to invest in new technologies, and identify the ones that will drive the most benefit for their organizations.

This implies that a clear articulation of business objectives is required as it would help to identify areas to pursue in the newly emerging technology ecosystems and (as important) what are the technologies, both physical and digital, that would be needed to be deployed in order to win.

While all this seems easier said than done, it’s a different ball game when it comes to execution. Despite the hype of interconnectedness and advanced technologies, many are not well-understood. But one thing is certain: It would be a folly to underestimate the crucial role the flow of information plays.

In order to fully realize the opportunities, it is crucial to integrate information technology (IT) and operations technology (OT) to forge a stronger manufacturing organization—also known as Industry 4.0, or SMART manufacturing, or Manufacturing 4.0.

The latest wave or Industry 4.0 is marked by a shift toward a physical-to-digital-to-physical connection. 

Are you geared for it?