The Industry 4.0 Ecosystem involves leveraging the latest technologies, digital capabilities, the unprecedented dissemination of IoT (the Internet of Things) and the incredible ability to tap into data anywhere and everywhere in the Supply Chain.
The level of digital connectivity across the entire End-to-End Supply Chain, from customers through to manufacturers, distributors, logistics companies, and suppliers of all kinds enables this forward leap to an Industry 4.0 world.
In Supply Chain having complete visibility to the entire network is essential for effective operations. Further the ability to translate this visibility, and the overwhelming amount of digital data, into analytics and information that can be used to manage each stage of your business in real time is enabled with Industry 4.0.
In the attached infographic we can see that the Industry 4.0 Ecosystem is all-encompassing.
It is critical that companies start to develop their Industry 4.0 Vision, Strategies, and Action Plans. Those companies who can master this level of digital connectivity will create a competitive advantage.
This advantage will manifest itself in terms of advanced capabilities for your customers, improved operating performance and productivity, better financial results, and the platform for future, unprecedented growth.
Certainly there will be consultants and other companies that will become experts in Industry 4.0 and offer services to help enable this capability. Control Towers, Big Data, Analytics, the Internet of Things (IoT), Smart Manufacturing and the Digital Supply Chain are all a part of Industry 4.0.
Conversely we like to think of the Digital Supply Chain as the overarching construct under which the Industry 4.0 Ecosystem is a critical part.
If you and your company are working on any one or more of these areas it is probably important for you to step back and consider creating a larger, all-encompassing Industry 4.0 Strategy.
Industry 4.0 is a critical element of the overarching Digital Supply Chain that will define the future across all industries and every aspect of our lives.
Start now and lead your company in to the future!