FINAL WORD
Debunking the top myths surrounding Industry 4.0
Manuj Desai , CIO , STL , separates fact from fiction over smarter process .
Let me start with the basics , what exactly is industry 4.0 without being jargonish ? In simple terms , Industry 4.0 is about using technology to make manufacturing , supply chain and industrial processes smarter and more connected , so that businesses can make better use of data and improve productivity . It is a way for companies to leverage the latest advancements in technology to stay competitive and meet the demands of an increasingly complex and fast-paced market .
We also know that Industry 4.0 technologies allow manufacturers to optimize their operations , reducing waste , managing quality , increasing productivity and so on and so forth . For example , IoT sensors can monitor machines in real-time , enabling remote visual assessment which allows predictive maintenance to increase efficiencies .
And what better . . . . The adoption of Industry 4.0 technologies can lead to significant improvements in organizational efficacy , resulting in lower OPEX ( OPerational EXpense ) for manufacturing companies .
But these words are thrown in reckless abandon many times with myths and misconceptions surrounding Industry 4.0 . Let me debunk some common misconceptions .
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