4 ADDITIONAL BENEFITS OF ADOPTING INDUSTRY 4.0 TECHNOLOGIES (IIoT)
manufacturers moving their business operation model towards industry 4.0 or Industrial Internet of Things (IIoT) in aggregating data not only from
1. Unified data set
2. Transparency and Traceability
Industry 4.0 improves production transparency and traceability that enables fast responsiveness from the manufacturer towards any issues arisen in the manufacturing process, thus eliminate production delays.
3. Machine Learning
The need of machine learning is rapidly increasing as Industry 4.0 foster data-driven culture. Majority systems are now equipped with Machine Learning capacity that provides real-time analytics from the plant floor that allows manufacturer to predict customers buying behavior. Manufacturers based on the analysis to optimized their inventory management in order to support the production needs.
4. Tech-savvy workforce
Entering to the computing era, employees’ momentum of action is comparative fast as peoples are accustomed to use technology even in their personal lives. Hence high-tech environment plays a crucial role in retaining and motivating talents.
As more manufacturers adopt Industry 4.0 technologies, companies will realize these additional benefits that may not have an easily calculable dollar-value, but are equally critical to their strategic goals.
Source: Forbes (Willem Sundblad, 2018)