Industry 4.0 is transforming how businesses manufacture, improve, and distribute their products. Manufacturers are incorporating new technologies such as the Internet of Things (IoT), cloud computing and analytics, and AI and machine learning into their manufacturing facilities and operations.
The 4th Industrial Revolution
We have entered the fourth industrial revolution, also known as Industry 4.0. Informed data, characterized by increased automation and the use of smart machines and smart factories, aids in producing goods more efficiently and productively across the value chain. Flexibility is increased so that manufacturers can better meet customer demands through mass customization, ultimately aiming for efficiency with a lot size of one in many cases. A smart factory can achieve information transparency and better decisions by collecting more data from the factory floor and combining it with other enterprise operational data.