What does the shift to digital transformation (4.0 Industry) offer a company?
Case Study Questions Week 11: Industry 4.0
What is 4.0 Industry and what its main characteristics?
It is the 4th Industrial revolution where the use of Cyber Physical Systems (networking of IoT, data, people, services) occurs (page 3)
Main characteristics are (page 8)
Vertical Networking of smart systems, smart factories, products, smart logistics, services with an emphasis on customers needs
Horizontal Integration (integration of business partners, and customers, new businesses, joint ventures across the world
Through Engineering throughout the entire value chain and the product life cycle.
Acceleration through Exponential Technologies (sensor technology, internet based technologies, AI, etc
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Develop potential for individual business segments ( shift from a push to the market to a pull from the customer status) where customization allows for the customer focus from every perspective (logistics, marketing, purchasing, sales, production, services)
Use Impetus from exponential technologies and more specifically the use of 3D printing technology that some manufacturing firms have mastered, while others do not even know how to use. The same can be applied for other similar type of technologies (AI, Virtual Reality, robotics, Driverless cars, data science, etc.).
What does the shift to digital transformation (4.0 Industry) offer a company?
Increased competitiveness and a huge impact on local and global value and supply chains.
Utilize Opportunities and reduce risks by integrating needs and preferences into production and development processes. Using 4.0 Industry we have Data sharing, accurate and advanced analysis of data, less errors and higher quality (so LEAN, KAIZEN and Innovation)
Through Innovation and Keeping up to date with the technology a sustainable competitive advantage can be achieved in an otherwise global competitive environment
What is the 4.0 Industry Environment? (page 6)
What are the opportunities and risks that may come with Industry 4.0? (pages 13, 14)
Resource efficiency
Customer Integration and quality boosting
Data security risks
IT infrastructure investment , skills, training (cost implications)
What are the future benefits? (page 18)
Future trends? (page 23)
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