What do you mean by Industry 4.0 ?
Industry 4.0 is the digital transformation of manufacturing/production and related industries and value creation processes.
“Industry 4.0 refers to the intelligent networking of machines and processes for the industry with the help of information and communication technology”
Industry 4.0 Technologies
Generally speaking, Industry 4.0 describes the growing trend towards automation and data exchange in technology and processes within the manufacturing industry, including:
- The internet of things (IoT)
- The industrial internet of things (IIoT)
- Cyber-physical systems (CPS)
- Smart manufacturing
- Smart factories
- Cloud computing
- Cognitive computing
- Artificial intelligence
This automation creates a manufacturing system whereby machines in factories are augmented with wireless connectivity and sensors to monitor and visualize an entire production process and make autonomous decisions.
Wireless connectivity and the augmentation of machines will be greatly advanced with the full rollout of 5G. This will provide faster response times, allowing for near real-time communication between systems.
What is an Example of the Industry 4.0 – A Smart Factory?
E-Durables is one of the world’s largest OEM air conditioner manufacturers, with a state-of-the-art factory producing 4,500+ units per day, and has earned a reputation as the best original design manufacturer in the living appliances category.
Clairviz implemented resource tracking and machine sensor solution for OTIF achievement, traceability of subcomponents and warranties with sub-suppliers, and coordination of planning, production, FG and dispatch data. The solution provides end-to-end traceability and online tracking as required for best utilization of workers, components, and parts for higher productivity, improving customer satisfaction and retention.
Clairviz Osprey Smart Manufacturing platform helped E-Durables reduce manual errors & eliminate pre-printed barcode labels. Comprehensive reports and Dashboards helped in better Data Analytics.
This is a prime example of how a company looked for the right intelligent tools to match its strategic goals: strategy first, followed by supporting technology.
Why Modern day Factories should adopt Industry 4.0 ?
The emerging Industry 4.0 technologies can entirely transform the manufacturing value chain. From increased production efficiency to innovative product and services deployment – the benefits of digitalization are significant.
In the European industry, digitized products and services already created €110 billion of additional revenues per year according to a PwC report. The revenues in the Indian Industry is also set to increase in the future. Trailblazing companies with digitized product portfolios have seen above-average growth in the past 3 years. Nearly, 50% of businesses with industry 4.0. projects underway expect to see double-digit growth in the next 5 years. One in five businesses also expects a 20% sales rise.
With the help of big data analytics, companies can also gain a deeper understanding of customer needs. The new insights can be applied to product development and used to strengthen customer interactions.
Increased efficiency and productivity
McKinsey estimates that switching to automated production 4.0. can boost productivity in technical professions by 45%-55%. IoT-assisted production has already been deployed by companies like Airbus, Cisco, Siemens, and a number of other leaders in the Industry 4.0 space. Thanks to increasing competition and the global trade environment, businesses can now create more advanced IoT ecosystems of gadgets developed by different vendors, as the protocol enables seamless, fast and secure cross-platform connectivity and data exchanges between different IIoT systems.
Machine downtime reductions
Predictive maintenance in Industry 4.0 means that equipment failure will be identified before it occurs. ML-powered systems can spot repetitive patterns that precede failures, notify your teams and have them schedule an inspection. Such systems also learn over time, becoming capable to spot even more granular changes and helping you continuously optimize your production process.
In addition, modern Industry 4.0 solutions can be adjusted and perfected for each particular scenario.
Clairviz DOMMS (Digital Operations and Maintenance Management System) is a Digital Maintenance Framework which leverages IoT, Machine Learning, Data Analytics to provide Proactive, Preventive, Predictive and Prescriptive Insights resulting in increased uptime and efficiency of the Assets.
Improved supply/demand matching
Cloud-based inventory management solutions enable better interactions with suppliers. Instead of operating in an “Individual silo”, you can create seamless exchanges and ensure that you have:
- High service-parts fill rates;
- High levels of product uptime with minimal risk;
- Higher customer service levels.
You can also perform real-time supply chain optimization and gain more visibility into the possible bottlenecks, protruding your growth.
The root of Industry 4.0 is connected devices and people, all powered by robust technology solutions and data analytics. By 2023, the competitive advantage of manufacturing companies will be driven primarily by the implementation of industry 4.0. The fourth industrial revolution will allow for new ways to market products and it will transform the way organizations work.