Industry 4.0 is ongoing at present which includes concepts such as robotics and big data. A study by BCG affirms that the pace of implementation has been roughly similar in the US and Germany. Manufacturing concerns are also seeking to align themselves on the lines of this industry 4.0. There are some visible conflicts at first glance though, such as a lack of imperative attached to it. Almost all industries especially the cost-sensitive ones like electronics, semiconductors and oil are most keen, yet are slow to respond. Most companies are only targeting cost reduction and improvements in productivity, not revenue growth. While some technologies such as cybersecurity, cloud computing and use of business analytics have already been eased in to the system, fewer have gone for robotics, additive manufacturing or augmented reality. A lot of obstacles have been noticed, but few concrete solutions have emerged. Finding the right talent for example, has been a huge deterrent to any company’s growth. For all the pessimism, there has been some genuine progress such as the improvement in quality by weeding out inconsistent production cycles. Processes have been streamlined, while development costs and lead times have been reduced. Market entry processes have been accelerated and some new services launched using the additional technologies. A cross-functional innovation team needs to be set up from the outset to define the work.

Source:https://www.bcg.com/publications/2016/lean-manufacturing-technology-digital-sprinting-to-value-industry-40.aspx?linkId=53241382&redir=true

Uploaded Date:04 July 2018