Industry 4.0 - A New Horizon For Industrial Manufacturing
The manufacturing Industry 4.0: For manufacturing, the industry 4.0 aims to connect all devices, sensors, and instruments (IoT) so that real time data is collected and utilized for better decision-making in less time. It also consists of the raw material (meaning, raw materials such as resources such as steel), the supply chain management process (which are making the best use of the resources available to produce the product at the lowest possible cost), the final product, and the service providers. In the supply-chain management, there is a balance between products, quality, capacity, and pricing. The final stage is profit and loss.
Logistics includes the processes involved in moving goods from their point of origin to their destination in a timely manner. There is a great deal of information involved and the entire logistics chain needs to be integrated to ensure that the system works efficiently. The whole logistics chain comprises transportation, gathering of resources, marketing, storage, and consumption of the goods. There are many sub-sectors within the logistics, and they include transportation management, trucking and auto-related logistics, air cargo logistics, consumer and institutional logistics, chemical, and fuel logistics, and the last stage, distribution.
How do you fit into the above? Well, since the manufacturing Business Process Model is directly interdependent on the supply-chain management, the latter needs to support the business. Thus, the whole business will need to support and improve the manufacturing process. And this implies that the supply-chain management has to be tightly integrated with the rest of the operational processes.
In order to optimize the efficiency of the above mentioned processes, data has to be captured and analyzed. Data mining and Big Data are the buzzword these days and in this era, Big Data and analytics are the order of the day. Nowadays, most of the organizations are leveraging the analytics tools like Predictive Maintenance, Operational Data Management System (ODMS), Enterprise Data Management (EDM), and Manufacturing Data Management (BDM) for their organizational requirements. As a result, organizations have been deploying Big Data and its associated technologies for their business.
Industry 4.0 has brought about a revolution in the way businesses operate. It is a platform that helps in sharing information technology experiences and enabling users to leverage the available information technology resources for improved business value proposition. The concept is very much similar to that of industrial manufacturing and it is gaining increasing popularity amongst the users. The major benefit of Industry 4.0 architecture is that it enables one to access the information and utilize it in real time. It provides analytical insight into operational processes, thereby providing options for improvement.
