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Digital transformation and Industry 4.0

10/7/2021

11 Comments

 
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For companies the challenges of adopting new production methods become much more complex with each industrial revolution.
 
Furthermore, with the fourth industrial revolution the scope and pace of change are unprecedented because its main drivers are the inherent need to be more customer-centric and to shorten time-to-market. Therefore, companies are expanding their use of technologies to better monitor the challenges facing their ecosystem.
 
The key to overcoming the challenges to scaling Industry 4.0 transformation is by treating it as a series of small projects that will generate quick wins and an immediate return on investment rather than treating it as a large-scale and multiyear programme.
 
Here is some good application advice for launching a digital transformation pilot project for Industry 4.0:
 
  1. Ensure you have a robust business case
  2. Get company-wide alignment around the vision
  3. Ensure your project has the right added value
  4. Use data-driven insights and strategy to improve your services
 
None of the above application advice can be effectively deployed unless enterprises digitize.  

In Conclusion, the fourth industry is a powerful concept that needs to be implemented in your business strategy in order to enable businesses to increase efficiency, become more customer-centric and increase overall competitiveness.
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Source: https://www.forbes.com/sites/forbestechcouncil/2021/09/10/industry-40-means-one-thing-informed-business-decisions/?sh=aabde556f84d 
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The Upskilling Lab 4.0 /4.0UP/ Project No. 2019-1-BG01-KA204-062308 has been co-funded by the Erasmus+ Programme of the European Union. 
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This website reflects the views only of the author, and the European Commission cannot be held responsible for any use which may be made of the information contained therein.
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