“Industry 4.0” is the term given to the emerging impact of automation and data exchange in manufacturing technologies. It includes cyber-physical systems, the Internet of things, cloud computing and artificial intelligence. Industry 4.0, when adopted effectively, increases manufacturing productivity, reduces costs, accelerates your go-to-market timeline, and facilitates mass personalization.
However, when the Industry 4.0 journey starts without clearly defined business goals, a technology roadmap, and the right mindset, most of the projects will quickly lose steam. Many initiatives are trapped in a PoC or pilot stage, with no impending in-production rollout plan and have not achieved any significant transformations after implementing management consultants’ recommendations for technology implementations.
This PoV defines the Industry 4.0 value chain that demarcates the boundary of the people, process, and technology to form the backbone of successful of Industry 4.0 implementations for manufacturers. Smarty Industry 4.0 service providers are aligning their offerings, according to the processes and technologies mentioned in our Industry 4.0 value chain.
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