What is Industry 4.0?
The term 'Industry 4.0' (or fourth industrial revolution) was first coined in 2011 as Germany sought to increase competitiveness in their manufacturing sector. Industry 4.0 effectively describes the ongoing automation and digitization of supply chains, with reduced need for human intervention.
Today, the term is being applied to not just manufacturing but other sectors who use the following technologies to improve supply chain processes:
- Big data
- Robotics / automation
- Cloud computing
- The Internet of Things
- 3D printing / additive manufacturing
- Artificial Intelligence
- Augmented / virtual reality
- Advanced / computer-assisted manufacturing
- Advanced design / 3D modelling
- Digital twin
- Machine to machine communications
- Sensor technologies
- Nanotechnology
- Blockchain.
Industry 4.0 presents generational opportunity to drive productivity, reduce repetitive and unsafe tasks in workplaces, build global digital supply chain networks and catalyze workforce transition.
