Industry 4.0 is revolutionizing the way organizations manufacture, enhance and distribute their products. Manufacturers are integrating new technologies such as cloud computing and analytics, Internet of Things (IoT), and AI and machine learning into their production units and throughout their operations.
It has the key to accessing real-time outcomes and data that will catapult the industry into new levels of lean achievements.
The concept of Industry 4.0, however, is not an easy one. It envelops numerous technologies and is used in a variety of different contexts.
What is Industry 4.0?
Industry 4.0 is known as the new phase in the Industrial Revolution that focuses mainly on interconnectivity, machine learning, automation, and real-time data. The aim is to focus solely on manufacturing and supply chain management.
Moreover, Industry 4.0 is characterized as IIoT or smart manufacturing, marries physical production and operations with intelligent digital technology such as big data, and machine learning to create a more holistic and better-connected ecosystem for organizations.
What technologies are driving Industry 4.0?
Big Data: According to Forbes, Big Data accumulates data from traditional and digital sources inside and outside your organization, showing a source for ongoing process and analysis. Today data is obtained everywhere, right from systems and sensors to mobile devices.
The real challenge is that the industry is still evolving methods to interpret data best. The evolution of Industry 4.0 will change the way organizations and solutions work together; teams can make better, smarter decisions.
Internet of Things (IoT): The Internet of Things is an essential element of smart factories. On the factory floor, machines are well-equipped with sensors that have an IP address, enabling the machines to connect with other web-enabled devices. This mechanization and connectivity simply make it possible for large amounts of valuable data to be collected, analyzed, and exchanged.
AI and Machine Learning: Machine learning and AI enable manufacturing organizations to get the most out of the data generated on the factory floor and across their business units and from third-party sources and partners.
AI and machine learning can furnish insights, predictability, visibility, and automation of business and operation processes. For example, Industrial machines are subjected to breaking down during the production process.
Utilizing data obtained from these assets can assist businesses in performing predictive maintenance depending upon machine learning algorithms, following in optimal uptime and higher efficiency.
Digital Twin: The digital transformation powered by Industry 4.0 has permitted manufacturers to create digital twins that are virtual replicas of processes, factories, supply chains, and production lines. A digital twin is formed by pulling data from IoT sensors, PLCs, devices, and other objects connected to the Internet.
Manufacturers can utilize digital twins to help boost productivity, design new products, and improve workflows. For instance, by simulating a production process, manufacturers can test changes to find ways to improve capacity or decrease downtime.
Smart Factory: The smart factory is the seamless connection of unique manufacturing steps, from planning to actuators. Soon, equipment and machinery will improve processes through self-optimization. Systems will autonomously adapt to the network environment and traffic profile. Autonomous Mobile Robots (AMRs) are integral to the Smart Factory. Their autonomous intelligence connects the factory, allowing seamless operations.
Cloud Computing: Cloud computing is known as the practice of using interconnected remote servers hosted on the Internet to store, manage, and process information.
The typically large amount of data stored and analyzed can be processed more efficiently and cost-effectively with the cloud. Further, cloud computing can diminish startup costs for small and medium-sized manufacturers who can right-size their needs and scale as their business grows.
Cyber-physical Systems (CPS): Cyber-physical systems, also known as cyber manufacturing, refer to an Industry 4.0-enabled manufacturing environment that provides real-time data collection, transparency, and analysis across every aspect of a manufacturing operation.
Who Is Industry 4.0 Right For?
How to know if your business should invest heavily in Industry 4.0?
Suppose the answer of all the below-listed points is yes, then you should start analyzing Industry 4.0 technology and solution providers for allotting the resources needed for deployment:
- You’re in an exceptionally competitive industry with many tech-savvy players
- You’re having a difficult time recruiting to fill vacant jobs at your organization
- You need better visibility across your supply chain
- You want to recognize and address issues before they turn into bigger problems
- You’re looking to increase profitability and efficiency across your entire organization
- You want your entire team to have up-to-date, informed, and relevant glimpses of production and essential business processes.
- You want more profound and more timely analytics
- You to digitize and make sense of information
- You want to increase customer satisfaction and CX
- You want to enhance product quality or keep product quality intact
- You require an integrated ERP system that spans inventory and planning and financials, customer relationships, supply chain management, and manufacturing performance.
- You require a consistent and flexible view of production and business operations tailored to particular areas or users in your business.
- You need real-time insights that help you make better, faster decisions about your business each day.
Industry 4.0 Outcomes
Regardless of whether it’s Smart Industry, Industry 4.0, or the Industrial Internet, manufacturers have numerous benefits to transform the way they work.
Enhanced productivity through optimization and automation
All of the Industry 4.0 connectivity sensors, IoT, AI, etc. – services have one primary purpose of optimizing manufacturing processes.
Automation enables manufacturers to work faster; predictive maintenance means less downtime for machines, data analytics empowers leadership to make data-driven decisions and increase efficiency. Monitoring systems offer real-time yield optimization across the operation.
At the point when manufacturers can get the most out of their production with sensor-monitored machines, everything while giving personalized attention and quick service to customers through AI and field service, they can actually recognize the benefit of the connected factory.
Asset tracking and optimization
Industry 4.0 solutions encourage manufacturers to become more efficient with assets at each stage of the supply chain and keep a better pulse on quality, inventory, and optimization possibilities for logistics. With IoT in place at a factory, employees can get deeper visibility into their assets worldwide. Regular asset management tasks such as asset disposals, transfers, reclassifications, and adjustments can be streamlined and managed in real-time.
Supply Chain and Inventory
Data analytics and IoT-enables sensors give manufacturers deeper insight into the entire supply chain and production process. This visibility level, along with AI and machine learning capabilities, simply means that supply chain optimization can be achieved in real-time. Some are calling it Supply Chain 4.0.
The application of the Internet of Things, advanced robotics, and advanced big data analytics in supply chain management: create networks everywhere, automate anything, place sensors in everything, and analyze everything to enhance performance and customer satisfaction significantly.
After Sales Service
While this doesn’t directly impact a manufacturer, they can drastically improve customer and field service offerings if they create goods capable of IoT connectivity.
How Truventor Can Help Your Business
To build a scalable, sustainable enterprise in today’s business environment, you will have to use tools that help you boost productivity and collaboration, streamline tasks, and leverage data in real-time. Industry 4.0 solutions from Truventor can put you on the right track.
Truventor can help you implement Industry 4.0 technology into your manufacturing business. We provide robust, industry-specific software designed around the needs of manufacturing, distribution, retail, and service industry customers. Right from the IoT Service Hub to Dynamics 365, our high-end products are built especially for manufacturers who want to stay ahead in the competitive world.
Tell us about your unique business goals and challenges so we can show you why Truventor software is a better fit. Reach out to us by phone, chat, or email.