Similar to the previous three industrial revolutions which capitalised on steam power, assembly lines, and computers, respectively, Industry 4.0 also presents opportunity by capitalising on the Internet of Things (IoT).
The manufacturing industry is entering a new era where new forces created by the explosion of data, robotics, automation, and artificial intelligence (AI), amongst others, are changing the dynamics for manufacturing companies.
Data is a key to start the journey towards Industry 4.0, and robust analysis of machine data can enable efficiency-optimised production, and potentially lead to new business models.
In automotive manufacturing, electricity makes up the majority of total energy cost compared to natural gas, water and other purchased fuels.
A programmable logic controller, or PLC, is a computer with a microprocessor used for industrial automation that can automate a specific process, machine function, or an entire production line.
A recent study concludes that customer experience is the top factor driving supply chain innovation, and the key to innovation is placing customers in the centre of supply chains.