August 2021 – FibreBroadbandSG

IoT and Industry 4.0

What does IoT and Industry 4.0 have in common? Are they referring to the same thing or are they different concepts?

Industry 4.0 refers to a new phase in the Industrial Revolution that focuses heavily on Interconnectivity, automation, machine learning, and real-time data. Industry 4.0, also sometimes referred to as IIoT or smart manufacturing, marries physical production and operations with smart digital technology, machine learning, and big data to create a more holistic and better connected ecosystem for companies that focus on manufacturing and supply chain management.

That’s where Industry 4.0 comes into play.

Industry 4.0 isn’t just about investing in new technology and tools to improve manufacturing efficiency—it’s about revolutionizing the way your entire business operates and grows. To survive and thrive now, you have to be willing to invest in Industry 4.0.

Evolution of Industry from 1.0 to 4.0

Before digging too much deeper into the what, why, and how of Industry 4.0, it’s beneficial to first understand how exactly manufacturing has evolved since the 1800s.

The First Industrial Revolution

During this period of time, manufacturing evolved from focusing on manual labor performed by people and aided by work animals to a more optimized form of labor performed by people through the use of water and steam-powered engines and other types of machine tools.

The Second Industrial Revolution

In the early part of the 20th century, the world entered a second industrial revolution with the introduction of steel and use of electricity in factories. The introduction of electricity enabled manufacturers to increase efficiency and helped make factory machinery more mobile.

The Third Industrial Revolution

Starting in the late 1950s, a third industrial revolution slowly began to emerge, as manufacturers began incorporating more electronic—and eventually computer—technology into their factories. During this period, manufacturers began experiencing a shift that put less emphasis on analog and mechanical technology and more on digital technology and automation software.

The Fourth Industrial Revolution, or Industry 4.0

In the past few decades, a fourth industrial revolution has emerged, known as Industry 4.0. Industry 4.0 takes the emphasis on digital technology from recent decades to a whole new level with the help of interconnectivity through the Internet of Things (IoT), access to real-time data, and the introduction of cyber-physical systems. Industry 4.0 empowers business owners to better control and understand every aspect of their operation, and allows them to leverage instant data to boost productivity, improve processes, and drive growth.

Smart Manufacturing Use Cases

One of the best ways to understand the concept of smart manufacturing better is to think about how it could be applied to your business, or a business similar to your business.

Supply chain management and optimization—Industry 4.0 solutions give businesses greater insight, control, and data visibility across their entire supply chain. By leveraging supply chain management capabilities, companies can deliver products and services to market faster, cheaper, and with better quality to gain an advantage over less-efficient competitors.

Without IoT systems in place at your factory, preventive maintenance happens based on routine or time. Predictive analytics allow companies to not just ask reactive questions like, “what has happened?,” or “why did it happen?,” but also proactive questions like, “what is going to happen,” and, “what can we do to prevent it from happening?” These type of analytics can enable manufacturers to pivot from preventive maintenance to predictive maintenance.

Asset tracking and optimization—Industry 4.0 solutions help manufacturers become more efficient with assets at each stage of the supply chain, allowing them to keep a better pulse on inventory, quality, and optimization opportunities relating to logistics. Standard asset management tasks such as asset transfers, disposals, reclassifications, and adjustments can be streamlined and managed centrally and in real time.

The point of reviewing these use cases is to help you imagine and start thinking about how smart manufacturing could be integrated into your own organization.

Who Is Industry 4.0 Right For?

How do you know when or if your business should invest in Industry 4.0?

If you’re able to check off most of the items on this list, it’s probably safe to start evaluating Industry 4.0 technology and solution providers and allocating the resources needed for deployment:

You’re in a particularly competitive industry with a lot of tech-savvy players
You’re having a hard time recruiting to fill vacant jobs at your organization
You want better visibility across your supply chain
You want to identify and address issues before they become bigger problems
You want to boost efficiency and profitability across your entire organization
You want everyone on your team to have informed, up-to-date, relevant views of production and business processes
You want richer and more timely analytics
You need help digitizing and making sense of information
You want to improve customer satisfaction and customer experience
You want to improve product quality or keep product quality intact
You want a more integrated enterprise resource planning system that spans not only inventory and planning, but also financials, customer relationships, supply chain management, and manufacturing execution
You want a consistent and flexible view of production and business operations tailored to specific areas or users in your organization
You want real-time insights that help you make better, faster decisions about your business each day

To kickstart your journey to Industry 4.0, upgrade your broadband connectivity with MyRepublic! Check out our business plans or drop us an email to find out more!