What Will Industry 4.0 Mean for the Manufacturing Industry?
Manufacturers are planning for the current and future digital revolution. According to a survey from Fujitsu, 89% of manufacturing firms are currently planning or testing digitization initiatives.
In an article from Manufacturing Global, author Stanley Chia writes, “The questioning of business leaders in 15 countries worldwide also found that digitalization is boosting business, with cited benefits including an increase in revenue, enhanced competitiveness of products and strengthened relationships with customers.Many are hoping that investing in digital will go a long way to fixing the productivity puzzle currently perplexing politicians and business leaders alike”.
In the article, Chia discusses:
- Digitization is becoming fundamental to organizational success
- What does this mean for manufacturers?
- Barriers to implementing digital technology
Chia continues, “For the manufacturing industry, collaborating with digital platforms will help manufacturers better manage not only their production lines but their supply chains. The benefits? You stop the bleeding, you have better visibility and control, and your productivity skyrockets. What does that say about digitizing your supply chain? It’s no longer a strategic advantage. It’s an operational necessity”. What does the future of your manufacturing business look like?
To read more, see the full article from Stanley Chia in Manufacturing Global.