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The next phase of digitization in the manufacturing sector, Industry 4.0, is driven by various factors. Some of these are the proliferation of data volumes, growth of connectivity and computational power, and critical advancements in manufacturing innovations. Smart factories and Industry 4.0 have started transforming manufacturing in their early stages. It helps manufacturers extend their digital reach and sell new varieties of products and services. Industrial automation can increase productivity and bring down potential costs. Overall, industry 4.0 will help promote globalization and requires the development of the right digital capabilities. In this article, Infiniti’s industry experts outline the key steps for CIOs to strategically gaining success with industry 4.0.
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“By embracing industry 4.0, manufacturers can gain much more than just extending their digital reach and or selling new varieties of products and services. Industrial automation can increase productivity and performance and bring down the overall production costs,” says a manufacturing industry expert at Infiniti Research.
Evolving along with the industry is crucial to manufacturers across the sector. As industry 4.0 evolves, manufacturers must take the right steps to embrace this change appropriately. Infiniti’s industry experts highlight the following four key steps CIO’s must take that are critical to success:
- Evaluate existing technological capabilities and prioritize measures that directly align with the organization’s digitization strategy.
- Use pilot projects as proof of concept and demonstrate that industry 4.0 can help business gains.
- Understand the flaws in the industry 4.0 pilots, and identify the capabilities that the organization lacks, and highlight the technology enablers that will help.
- Embrace the advanced technologies available, such as real-time analytics, to attract customers and capture the potential of industry 4.0.
- Want more guidance and steps to approach industry 4.0 strategically? Read the complete article
Infiniti Research has 15+ years of experience working in collaboration with clients in 50+ industries to offer solutions that address their unique business challenges. Get in touch with an industry expert for more insights on industry 4.0.
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Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us