Industry 4.0 is upon us and it is important to distinguish it from Industry 3.0. While the latter was about automating single machines, the present one is about doing so to the entire ecosystem. PwC’s business consulting wingtook on a study across twenty-six countries to identify the Digital Novices, Followers, Innovators and Champions. It also studied what were the steps needed to become one such Digital Champion. Such digital champions make up only a tenth of manufacturing concerns. Perhaps surprising to some, the Asia-Pacific region leads in terms of digitization. They demonstrate value through their unique customer solutions systems. These companies have mastered the four key areas on the way to be champions. These fields are- customer solutions, operations, technology and people. Operations includes the smooth work involving sourcing, planning, warehousing, product development, logistics and academia interaction. Technology includes the suite of modern forces such as AI, IoT, sensors, robotics, VR and AR. The people ecosystem involves the right recruitment, vision to match skills with talent, the management training imparted and fostering an overall digital culture.

Source:https://www.strategyand.pwc.com/industry4-0

Uploaded Date:01 June 2018