The buzz around Industry 4.0 has moved from what companies saw as PR hype in 2013-14 to investment and real results today. Companies are investing ambitiously, with first movers in particular already making significant Industry 4.0 investments and realizing both above-average revenues and operational savings. Manufacturers who are able to establish successful digital industrial platforms early will have a significant advantage over their competitors.
Whether you’ve embraced digital manufacturing or are wondering where to start, there are things you can do right now to move closer to the future. Manufacturing execution systems (MESs), Industrial Internet of Things (IIoT) gateways, Industry 4.0, factory information systems (FISs) and manufacturing analytics might sound daunting, but these are becoming simpler and more affordable than ever before.
No matter where you are in this process, you probably know more than you think you
do. The below key steps can help get started with your Industry 4.0 Journey :
1. Map out your Industry 4.0 strategy – Evaluate your organisation’s digital maturity and set clear targets for the next three years. Prioritize the measures that will bring the most value to your business and make sure these are aligned with your overall strategy.
2. Know your pain points – Start by identifying the key pain points and what’s costing you the most in terms of machine downtime, performance losses, product rejections, customer satisfaction or compliance.
3. Create initial pilot projects – And use them to establish proof of concept and demonstrate business value. With evidence from early successes, you can also gain buy-in from the organisation, and secure funding for a larger roll-out.
4. Focus on people and culture to drive transformation – For a successful Industry 4.0 implementation, the biggest challenge isn’t the right technology, it’s the lack of digital culture and skills in the organisation. While investing in the right technologies is important, ultimately success or failure will not depend on specific sensors, algorithms or analytics programs, but on a broader range of people-focused factors. Attract, retain, and train employees who are comfortable working in a dynamic digital ecosystem.
5. Transform into a Digital Enterprise – Capturing the full potential of Industry 4.0 often requires company-wide transformation. Look to set ‘tone from the top’, with clear leadership, commitment and vision from the management and financial stakeholders.
Industry 4.0 will be a huge boon to companies that understand what it means for how they do business.
Take your first step and get in touch with us to know how Think7 can help you get started on the Industry 4.0 Journey.