Know how Industry 4.0 can impact your current supply chain Industry 4.0 is all about the digitalization of industry. It is the meshing of computers and automation in an entirely new way. In this, all the machines, devices, sensors and people are connected and communicate to each other. With Industry 4.0, organizations can become more digitalized by evolving their traditional supply chain to a more efficient and connected network. Interconnectivity between all the systems and processes become possible throughout supply chain. With this fourth industrial revolution, visibility at every component of supply chain such as manufacturing, logistics, procurement, warehousing etc. has become far more efficient. Machines and sensors collect information, store it in a common data layer and through the appropriate analytics, and communicate these actions to other machines and humans in ways that are both predictive and prescriptive. This collection of people, machines, devices, computing systems, analytics and the cloud is what is called the Internet of Everything. For most companies, it is nearly impossible to have that expertise on staff and they need to rely on subject matter experts who are focused on results. Consult Group50, a renowned Industry 4.0 consulting firm who has put together a team of cross-functional Industry 4.0 subject matter experts who have deep automation and systems integration experience. They have created assessments that clearly define the current state and the opportunities available to create a more cost effective state. They take the results of the assessments and facilitate cross functional workshops that help a team design and plan the most costeffective approach with the highest ROI. Major advantages of Industry 4.0 in supply chain:
Generates more revenue Adopting this technology early helps organizations to maintain their competitiveness and to be able to adapt the value chain of future state. Organizations which have implemented Industry 4.0 successfully have increased their annual revenues. Better data-driven insights boost productivity which translates to increased revenue opportunities. Improved communication Intelligent devices and sensors help managers to collect, sort, and share data across various platforms which improves efficiency and productivity. It streamlines the planning and production stages by eliminating all the functional breakdowns. Perfect coordination Industry 4.0 makes all the processes of supply chain connected and the transactions more coordinated. It makes the organizations more agile towards meeting the requirements and all the unforeseen conditions. Entire supply chain becomes transparent which allows order to be tracked easily at any cycle. Group50, a leading Industry 4.0 consulting firm has created IoE libraries for specific industry verticals such as highly automated factories, assembly systems, logistics, distribution, food processing, agriculture, information technology and others. Talk to their Industry 4.0 expert about how you can take advantage of their consulting process and take your company toward Industry 4.0.
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