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About Industry 4.0
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We find ourselves in an environment with a fast crashing wave of digital technologies, where organizations need to adapt to take advantage of new technologies much more quickly than they have ever had to in the past. This implies that organizations might need to employ radically new approaches to management in order to fully exploit the spectrum of opportunities. For manufacturers, the ecosystem of new technologies is referred to as Industry 4.0. But what is Industry 4.0 exactly?
What is Industry 4.0?
Industry 4.0, or the fourth industrial revolution, is the logical next step in integrating more technology into the production environment in order to optimize production and increase revenue. It is characterized by new technologies that blur the lines between physical and digital worlds; it is not the traditional, manual, and sequential value chain we grew up with but rather a fully connected Digital Core.
The holy grail is physical and digital as one
Applying innovative capabilities to digitize supply networks involves a continuous flow of information, goods and services between the physical and digital worlds.
- Establish a Digital Record ("Physical to Digital")
Capture information from the physical world to create a digital record of the physical supply chain.
- Analyse and Visualize ("Digital to Digital")
Machines talk to each other to share information, allowing for advanced analytics and visualisations with real-time data from multiple sources.
- Generate Movement ("Digital to Physical")
Apply algorithms and automation to translate decisions and actions from the digital world into movements in the physical world.
How can Industry 4.0 be used to transform businesses?
Manufacturers are using Industry 4.0 to transform their business in six fundamental ways:
- Creating smart products and services
- Connecting and integrating in new ways
- Accelerating innovation and design cycles
- Predicting changes and responding in real-time
- Creating a digital link between OT and IT
- Aiding users and workers through digital information
Deloitte offers several solutions along the value chain to help manufacturers transform their business, such as Digital Development, Synchronized Planning, Intelligence Supply, Smart Factory, Dynamic Fulfillment, and Connect Customers.
Find out more about these solution and read Industry 4.0 success stories here.
If you have any questions or would like to discuss opportunities, please contact us.
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