It’s time to ditch the Excel spreadsheets and develop smart factories.
Industry 4.0 (referred to as the Fourth Industrial Revolution) was first introduced in 2011 by the German Government as a strategic initiative to fully computerise the manufacturing industry without the need for human interaction.
The UK Government is geared up to invest £53 million into the ‘Made Smarter Programme’ which is set to promote innovation and inter-connectivity within the UK manufacturing industry.
A combination of various technologies, Industry 4.0 is set to drive transformation across the industry enabling manufacturers to save time and reduce waste – with smart technology, Artificial Intelligence (AI) and 5G integrated into workflows, companies will create a fully connected and modernised business.
Business owners can gain better control and understand every aspect of their business, enabling them to leverage real time data to increase productivity, streamline processes and enable growth. Industry 4.0 improves collaboration across all departments and connects people with digital technology.
What are the Benefits of Adopting Industry 4.0?
Reduce costs and waste – manage and optimise the manufacturing process and supply chain using real time data to make better decisions for your business. Using smart technology eliminates any downtime.
It strengthens your workforce – software can improve collaboration and efficiencies across departments by using technology to connect employees.
It makes you more competitive – investing in technology and solutions will help you improve your manufacturing process and provide a better service to your customers, giving you a unique selling proposition.
Address potential issues before they arise – investing in technology enables your business to be proactive rather than reactive, by being able to spot potential maintenance and supply chain management issues.
The value of big data – the wealth of information which can be collected through machinery and processes can be integrated with software and business systems, creating a fully connected business.
It speeds up the manufacturing process – products can be built directly from a CAD design enabling design engineers to create a virtual example which can be tested within the software – this enables manufacturers to speed up the design and development process and produce better quality products.
Improve the shop floor – Industry 4.0 machinery is supported by cloud technology and the Internet of Things (IoT) technology – machines can collect performance data and share this with other machines or software systems.
Build business resilience – digital solutions can support your operations and transform your business to become stronger and more resilient.
Conclusion and the Bottom Line
Industry 4.0 is revolutionising the way businesses manufacture, improve and distribute their products – smart factories are equipped with software and robotics that collect data to allow for better decision making and customer satisfaction.
By 2023, Industry 4.0 will drive the competitive advantage for manufacturing companies – it will also allow for new ways to market products.
It is simply not viable to continue to run a manufacturing business using manual processes and Excel spreadsheets – if you don’t take the steps now to invest in technology, you run the risk of being left behind and losing customers.
Now is the time to look at how you can transform your business to digital processes.
Our manufacturing experts can carry out an audit on your accounting and inventory processes and recommend software solutions tailored to your business requirements. Contact Lee Sugden or Mark Tooby on 0161 761 5231 or email theteam@horsfeld-smith.co.uk.
