Industry 4.0 will offer the manufacturers an opportunity to minimize their operational costs and overall efficiency, as the machines networked digitally will collect huge chunks of data about the maintenance, performance and other parameters. Besides this, the machines can analyze the data to identify patterns and insights which are beyond the scope of a human resource within a stipulated timeline.
A supply chain that is well connected can easily adapt when new data or information is fed in its network. A connected system helps in adjusting to the real-time issues and thus modify the manufacturing and docking arrangements as per the informed decision.
Automated cranes and self-driving trucks are deployed on various shipping yards for streamlining the operational activities as they load and offload the shipping containers from the ships.
With the evolving technology, robotics for industrial applications has become affordable and accessible for the industries of every scale and size. Amazon uses robots for moving goods within its warehouses which contributes towards efficient use of the storage space.
Internet of Things (IoT) being a key component of Industry 4.0 is characterized by devices connected to the cloud. The IoT in the context of Industries is termed as IIoT. The IIoT enables predictive maintenance, condition monitoring, boosting overall equipment effectiveness and enhancing the safety if the industry premises.
Industry 4.0 is evolving at a rapid pace and by the end of this decade, the true potential of Industry 4.0 will be unleashed for changing the face of the industrial sector. An equal amount of priority towards how to upskill the existing workforce to comply with the requirements of Industry 4.0 should be considered for yielding maximum benefits from this new wave of evolution.