Industry 4.0

Evaluating Indirect and Direct Factors for I.40 ROI
“Think of the tangential benefits from the Space Program” In July, the World celebrates the fantastic Journey that Apollo 11 performed in 1969 when the first men were sent to orbit the Moon. Just think of what has happened as a result of the single-minded goal of putting a man on the Moon. At that time, the total computing power needed for that effort was less than the computing power of a smartphone. The main computers that powered the Apollo 11 mission were the size of four refrigerators!  Most likely, the majority of us don’t remember the protests at the spending ($40 billion for the entire 12 years of the NASA Man-on-the-Moon project), but looking back, just look at the unforeseen benefits of the digital age. Technology has shown itself to have the capacity of producing exponential ROI …in hindsight. The Investment of Industry 4.0 When considering the important investment…
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Industry 4.0 Factors That Will Contribute to Increasing ROI
According to a study done by the World Economic Forum in May 2018, ROI on Industry 4.0 projects can vary widely. For example, industry leaders (which tend to be larger by revenue) can achieve productivity gains of about 70%. Small to Medium-Sized Enterprises (SMEs) are more likely to see gains of approximately 30%. Regardless of your organization’s standing in the industry, certain factors can help maximize the ROI of Industry 4.0 projects. Strong Executive Leadership. A successful journey to Industry 4.0 requires strategic vision and alignment across all parts of the organization. This is what makes having a comprehensive Business analysis of the entire company an important first step in the transition to I-4.0 This study must originate at the top of the organization. Leaders should frequently and authentically voice their support for achieving Industry 4.0, not only through organization-wide communication but also through the allocation of resources and the…
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Industry 4.0 Technology
In a recent survey, 76% of manufacturers said they would increase their investment and use of smart devices or embedded intelligent into the manufacturing processes within the next few years. In the same survey, 66% of the manufacturing CEOs expect to increase profitability through the use of new technology and the Internet of Things (IoT) within the next five years. According to these results, Industry 4.0 is being adopted far and wide. So, what do they know that you don’t? Advances in Technology are happening at a rapid pace, and it takes special attention to not only understand how new technology functions but also how it can actually help. Indeed, is it hype or help? From a CEO’s point of view, how new technology works is secondary to how adoption could impact the company and its bottom-line. What to consider before adopting Industry 4.0 Most investigations have shown there are…
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Decision-Making Process for Industry 4.0
“Decision-makers must learn to leave egos at the door” In the era of Industry 4.0, technology will play a greater part in optimizing solutions. But do decision-makers have the expertise needed to fully understand the rapidly evolving tech world? If leaders can’t stand up and say: “I don’t understand how that tech solution works” and have the humility to learn new things, then optimal decision making in the era of Industry 4.0 may be in jeopardy. Making a good decision is only validated by the results. However, in an age of constantly growing complexity and the push to be innovative and “out-of-the-box”, there may be too many unexpected variables that can bring about unexpected results. This logical fear plagues decision making. In fact, decision making has become more challenging due to the exponential growth and access to information. Validating information is becoming a serious issue in the Corporate C-suite. Misleading…
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