What is Industry 4.0?
How is it helpful?
What can it do for Manufacturing Industries?
If you feel bombarded by these questions, we are here with some intriguing answers. Let’s first begin with how Industry 4.0 comes in the picture and what were the earlier phases.
The term ‘Industry 4.0’ or I.40, I4 was first founded in 2011. It was coined during a project about the high-tech strategy by the German government. Most importantly, to promote the computerization of manufacturing sectors. Some do dismiss Industry 4.0 as a mere marketing fuzzword. On the contrary, major changes in the manufacturing sectors are simply astounding!
Also here is a brief synopsis of three Industrial Revolution Phases-
First Industrial Revolution
Second Industrial Revolution
Third Industrial Revolution
Automatons—programmable logic controllers (PLCs)
Here are a few application of Industry 4.0 in Manufacturing Industry
1. Identify opportunities
Industry 4.0 offers the opportunity for manufacturers to optimize their operations speedily and efficiently by identifying what needs attention.
An African gold mine found a different way to grab more information from its sensors. New data showed some unsuspected fluctuations in oxygen levels during leaching, a key process. Fixing this increased yield by 3.7 percent, worth up to $20 million annually. McKinsey
2. Optimize logistics and supply chains
A well-connected logistics chain can adapt and accommodate when new information is presented. If due to weather, the shipment is stranded, a dynamic connected system can adjust to the current situation and revise manufacturing priorities.
3. Autonomous equipment and vehicles
Some shipyards are leveraging independent cranes and trucks to modernize procedures as they receive shipping containers from the ships.
4. Internet of Things and the cloud
A key element of Industry 4.0 is the Internet of Things, characterized by connected devices. This helps in internal operations. Also through the use of cloud computing, where data is stored, equipment and operations can be run efficiently by using the same equipment, and/or to allow SME to access the technology they wouldn’t be able to use on their own.
Although Industry 4.0 is in its evolving stage, despite that, companies who embrace technologies are already benefitting from this concept and know the potential it has.
The future of Industry 4.0 lies in the convergence of AI and IoT. Artificial Intelligence of Things will impact nearly every market verticals including automotive, aviation, finance, healthcare, manufacturing, and supply chain.