The rise of ‘Industry 4.0.’
The global pandemic has prompted an accelerated and increased need for businesses to digitalize, giving “Industry 4.0.” a substantial boost as companies work to navigate – and endure – the current crisis, and reach the next ‘normal’.
In recent years, the catchphrase “Industry 4.0” has come to represent the next wave of opportunities for ambitious businesses. “Industry 4.0” is named as such to represent the fourth significant upheaval in modern manufacturing, following the introduction of mechanical manufacturing systems in the late 18thcentury, mass production and electrical energy in the 20thcentury, and electronics-driven automation in the 1970s. The vast majority of the disruptive trends encapsulated in Industry 4.0 are related to advances in digital technologies.
In the latest advisory from Lean Management specialists at Four Principles, they explore how various companies can benefit from adopting Industry 4.0, and detail what is required for a successful digital transformation.
Read the full advisory here.