Smart factories playbook
Industry 4.0 technologies driving manufacturing efficiency
Industry 4.0 technologies driving manufacturing efficiency in 2024.
What's inside
Assess your data maturity and accelerate your digital transformation journey
How mature is your organization’s data?
Embarking on a journey towards smart manufacturing, it's essential to identify where to allocate your investments. The technologies outlined in this guide have the potential to position you as a leader in smart manufacturing, provided they are implemented effectively.
Unsuccessful implementations of new and emerging technologies have caused many manufacturers to get stuck in the research phase, delaying their transition to Industry 4.0. The ability to adopt cutting-edge technologies can be the deciding factor between success and failure. Those who wait are falling behind, as the pressure to adapt is substantial, but so is the potential for value.
While smaller companies can be nimble in adapting new technologies, large organizations often move slower in the adoption phase but have the ability to scale quickly and reap substantial efficiency benefits.
McKinsey: Capturing the true value of Industry 4.0 (2022)
Just as the first industrial revolution was driven by steam, the second by electricity and the third by digitalization, Industry 4.0 is driven by data. Rapid advancements in computing power have given rise to a host of emerging technologies such as the Internet of Things (IoT), cloud computing, big data analytics and AI.
Industry 4.0 represents an internet-enabled industrial revolution that facilitates the swift exchange of data. To harness these technologies, data is a priority.
Many Industry 4.0 projects fail because new technology is not integrated with existing systems and because the data that must be leveraged by new applications is not governed.
Of the digital supply chain roadmaps that do exist, only 32% are aligned under a single governance process and to common business goals
BEFORE YOU EMBARK ON YOUR SMART MANUFACTURING JOURNEY…
Examine your data and get it in order for your purpose.
Prioritize smart manufacturing as a business priority.
Identify existing bottlenecks and potential use cases where data can help streamline operations.
Investigate strategies for collecting and harnessing your data, which includes establishing data policies and procedures.
Focus on analytics to translate IoT data into business value.
Enrich your organization with skilled workers who possess data literacy and digital proficiency.
Wait to fix data later because you think it will delay the implementation.
Ask IT for a speedy adoption of smart manufacturing technologies.
Plunge into tech investments, before carefully evaluating your data solution.
Be satisfied with the mere acquisition of IoT data.
Do nothing because of previous bad experiences.
