Industry 4.0 spans the entire product life cycle and supply chain— design, sales, inventory, scheduling, quality, engineering, and customer and field service. Everyone shares informed, up-to-date, relevant views of production and business processes—and much richer and more timely analytics.
Here is a quick, non-exhaustive list of some of the benefits of adopting an Industry 4.0 model for your business:
It makes you more competitive, especially against disruptors like Amazon. As companies like Amazon continue to optimize logistics and supply chain management, you need to be investing in technology and solutions that help you improve and optimize your own operation. To stay competitive, you have to have the systems and processes in place to allow you to provide the same level of service (or better) to your customers and clients that they could be getting from a company like Amazon.
It makes you more attractive to the younger workforce. Companies that invest in modern, innovative Industry 4.0 technologies are better positioned to attract and retain new workers.
It makes your team stronger and more collaborative. Companies that invest in Industry 4.0 solutions can increase efficiency, boost collaboration between departments, enable predictive and prescriptive analytics, and allow people including operators, managers, and executives to more fully leverage real-time data and intelligence to make better decisions while managing their day-to-day responsibilities.
It allows you to address potential issues before they become big problems. Predictive analytics, real-time data, internet-connected machinery, and automation can all help you be more proactive when it comes to addressing and solving potential maintenance and supply chain management issues.
It allows you to trim costs, boost profits, and fuel growth. Industry 4.0 technology helps you manage and optimize all aspects of your manufacturing processes and supply chain. It gives you access to the real-time data and insights you need to make smarter, faster decisions about your business, which can ultimately boost the efficiency and profitability of your entire operation.