flevyblog

Flevy Blog is an online business magazine covering Business Strategies, Business Theories, & Business Stories.
MANAGEMENT & LEADERSHIP STRATEGY, MARKETING, SALES OPERATIONS & SUPPLY CHAIN ORGANIZATION & CHANGE IT/MIS Other

The Rise of Industry 4.0 and Software Trends That Support It

Editor's Note: Take a look at our featured best practice, Digital Transformation: Artificial Intelligence (AI) Strategy (27-slide PowerPoint presentation). The rise of the machines is becoming an impending reality. The Artificial Intelligence (AI) revolution is here. Most businesses are aware of this and see the tremendous potential of AI. This presentation defines AI and explains the 3 basic forms of AI: 1. Assisted Intelligence 2. [read more]

Also, if you are interested in becoming an expert on Digital Transformation, take a look at Flevy's Digital Transformation Frameworks offering here. This is a curated collection of best practice frameworks based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. By learning and applying these concepts, you can you stay ahead of the curve. Full details here.

* * * *

The newest frontier of the Industrial Revolution is here, and many developed countries are integrating cutting-edge technologies into their industrial system.  Twitch view bot is the best example that how it view count in a live through artificially inflating.  The struggle for something new and better to make production and business seamless with less human error has given rise to Industry 4.0. With many software trends feeding into the rise of Industry 4.0, it is essential to understand how it started and shed more light on what it has in store for humanity.

The Industrial Road to 4.0

An industrial revolution will always mark the dawn of a new era in the business and production world. So far, there have been three other revolutions before Industry 4.0 that marked manufacturing transformations.

  1. The 1st Industrial Revolution was based on mechanization through steam power.
  1. The 2nd Industrial Revolution brought about mass manufacturing, increasing productivity and resources to meet the ever-increasing demand.
  1. The 3rd Industrial Revolution was characterized by increased industrialization in different countries during the 20th century. It was accompanied by increased automation due to information technology and electronics.

Boosting productivity was the primary aim of every industrial revolution. All technological innovations significantly impacted industrial operations, from steam engines to electricity and the rise of digital technology.  Industry 4.0 also has the same purpose and could eventually be regarded as the 4th Industrial Revolution. It has shown a promising impact on the future of smart and technologically-driven factories. 

Some small businesses have adopted this advancement using various business software solutions like the Katana software for optimizing operations or 3D printing for cheaper production.

Some Software Trends Supporting Industry 4.0

The concept of industry 4.0 is now developing into an umbrella term for the software trends backing its rise. These trends include the Internet of Things (IoT), Industrial Big Data and Data Mining, Cyber-Physical Systems, Cloud Systems (CS), Augmented Reality (AR), Artificial Intelligence (AI), and Enterprise Resource Planning (ERP) software, e.g., Katana software.

Internet of Things (IoT)

This is the major trend supporting the rise of Industry 4.0, and it allows connection between people anywhere, at any time, and via any network or service. This also applies to communication between machines for smooth business processes. The use of IoT helps optimize business processes and outcomes. The end game is improved customer experience and satisfaction.

Industrial Big Data

The generation of big data from digital processes and social media interactions is consistently transmitted at an alarming volume, velocity, and variety. Different technologies like sensors, systems, and mobile devices send big data. Data mining helps process and analyze this data to extract useful information that makes industrial processes easier.

Cyber-physical Systems (CPS)

These systems serve as a connection between the official and virtual worlds. This link between the two worlds creates a large amount of data valuable to industrial production. Cyber-physical systems are replacing basic production systems and ushering in Industry 4.0.

Cloud Systems (CS)

The significant shift in favor of cloud systems had been instrumental in the slow fading out of typical/traditional methods of storage. Cloud systems make distribution, upgrades, and information delivery fast and comfortable. These systems can manage big data as they allow storage of large amounts of data, an inevitable feature of Industry 4.0.

Augmented Reality (AR)

After obtaining big data and this data is analyzed and processed, it repaired simulation. AR gives rise to possibilities related to a product’s design, development, and production. This enhanced reality helps manufacturers to scrutinize business models and test their real-world implementation. The development of Industry 4.0 applications relies heavily on AR for smart manufacturing and production solutions.

Artificial Intelligence (AI)

AI reduces the need for human resources and scales up business projects. The machine learns everything about the industrial processes and automates them. This leads to increased speed and improved quality of production. Implementation of AI, in combination with big data and IoT, creates a smart factory which is the end goal of industry 4.0.

Enterprise Resource Planning (ERP) Software

This software helps organizations to efficiently use and integrate their resources in all their processes (like sales, production, supply, and stock). The integration of ERP software is vital to its framework of Industry 4.0. ERP software is not only for big leading companies, but small businesses also require manufacturing software. A well-structured ERP system can aid: 

  • Real-time data evaluation
  • Resource optimization
  • Purchasing and sales transparency
  • Improved customer interaction and experience
  • Communication via mobile applications using ERP data

Conclusion

Industrial advancements and innovations play a role in changing the operation, service, and manufacturing process of various business sectors. Industry 4.0 is not just trendy but has a direct impact on the efficiency and productivity of industries around the world. The rise of this concept is promising as many leading businesses already use these ongoing trends for better business outcomes.

36-slide PowerPoint presentation
First, what is RPA? Robotic Process Automation (RPA), also referred to as Robotic Transformation and Robotic Revolution, refers to the emerging form of process automation technology based on software robots and Artificial Intelligence (AI) workers. In traditional automation, core activities [read more]

Want to Achieve Excellence in Digital Transformation?

Gain the knowledge and develop the expertise to become an expert in Digital Transformation. Our frameworks are based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. Click here for full details.

Digital Transformation is being embraced by organizations of all sizes across most industries. In the Digital Age today, technology creates new opportunities and fundamentally transforms businesses in all aspects—operations, business models, strategies. It not only enables the business, but also drives its growth and can be a source of Competitive Advantage.

For many industries, COVID-19 has accelerated the timeline for Digital Transformation Programs by multiple years. Digital Transformation has become a necessity. Now, to survive in the Low Touch Economy—characterized by social distancing and a minimization of in-person activities—organizations must go digital. This includes offering digital solutions for both employees (e.g. Remote Work, Virtual Teams, Enterprise Cloud, etc.) and customers (e.g. E-commerce, Social Media, Mobile Apps, etc.).

Learn about our Digital Transformation Best Practice Frameworks here.

Readers of This Article Are Interested in These Resources


52-slide PowerPoint presentation
Services companies are changing the way they offer and deliver services, driven by customer demands for a more customized, proactive, omnichannel, integrated, and data-driven service and enabled by emerging Digital Technologies. This is known as Service 4.0 Transformation. By undergoing Service [read more]


 
26-slide PowerPoint presentation
 
 
24-slide PowerPoint presentation

About Shane Avron

Shane Avron is a freelance writer, specializing in business, general management, enterprise software, and digital technologies. In addition to Flevy, Shane's articles have appeared in Huffington Post, Forbes Magazine, among other business journals.


Complimentary Business Training Guides


Many companies develop robust strategies, but struggle with operationalizing their strategies into implementable steps. This presentation from flevy introduces 12 powerful business frameworks spanning both Strategy Development and Strategy Execution. [Learn more]

  This 48-page whitepaper, authored by consultancy Envisioning, provides the frameworks, tools, and insights needed to manage serious Change—under the backdrop of the business lifecycle. These lifecycle stages are each marked by distinct attributes, challenges, and behaviors. [Learn more]

We've developed a very comprehensive collection of Strategy & Transformation PowerPoint templates for you to use in your own business presentations, spanning topics from Growth Strategy to Brand Development to Innovation to Customer Experience to Strategic Management. [Learn more]

  We have compiled a collection of 10 Lean Six Sigma templates (Excel) and Operational Excellence guides (PowerPoint) by a multitude of LSS experts. These tools cover topics including 8 Disciplines (8D), 5 Why's, 7 Wastes, Value Stream Mapping (VSM), and DMAIC. [Learn more]
Recent Articles by Corporate Function

  

  

  

  

  

The Flevy Business Blog (https://flevy.com/blog) is a leading source of information on business strategies, business theories, and business stories. Most of our articles are authored by management consultants and industry executives with over 20 years of experience.

Flevy (https://flevy.com) is the marketplace for business best practices, such as management frameworks, presentation templates, and financial models. Our best practice documents are of the same caliber as those produced by top-tier consulting firms (like McKinsey, Bain, Accenture, BCG, and Deloitte) and used by Fortune 100 organizations. Learn more about Flevy here.
  


OUR CORE OFFERINGS
Flevy Marketplace: Top 100
· Strategy & Transformation
· Digital Transformation
· Operational Excellence
· Organization & Change
· Financial Models
· Consulting Frameworks
· PowerPoint Templates
FlevyPro (Subscription Service)
KPI Library
Streams (Functional Bundles)
Flevy Executive Learning (FEL)
PowerPoint Services

FREE Resources

About Flevy
Management Topics
Marcus (AI-Powered Consultant)
Partner Program
LinkedIn Influencer Marketing
FAQ / Terms / Privacy / Blog
Contact Us: support@flevy.com



CONNECT WITH US!
       
TOP 100 TRENDING TOPICS
Acquisition Strategy
Agile
Analytics
Artificial Intelligence
Balanced Scorecard
Best Practices
Big Data
Breakout Strategy
Business Continuity Planning
Business Plan Financial Model
Business Transformation
CMMI
COBIT
Change Management
Cloud
Communications Strategy
Company Financial Model
Competitive Advantage
Competitive Analysis
Consulting Frameworks
Continuous Improvement
Core Competencies
Corporate Culture
Cost Reduction Assessment
Customer Experience

BROWSE BY FUNCTION
Strategy, Transformation, & Innovation
Digital Transformation
Operational Excellence and LSS
Organization, Change, & HR
Management Consulting

Customer Journey
Customer Service
Cyber Security
Data Privacy
Decision Making
Digital Marketing Strategy
Digital Transformation
Digital Transformation Strategy
Due Diligence
ESG
Employee Engagement
Employee Training
Enterprise Architecture
Growth Strategy
HR Strategy
Hiring
Hoshin Kanri
ISO 27001
ITIL
Information Technology
Innovation Management
Integrated Financial Model
Kaizen
Kanban
Key Performance Indicators

ADDITIONAL RESOURCES
Business Strategy Frameworks
Case Studies
Consulting Training Guides
COVID-19 Trend Data
Digital Transformation
Financial Advising Services (FAS)

Knowledge Management
Leadership
Lean
Lean Manufacturing
Logistics
M&A (Mergers & Acquisitions)
Manufacturing
Market Research
Marketing Plan Development
Maturity Model
McKinsey PowerPoint
McKinsey Templates
Operational Excellence
Organizational Change
Organizational Design
Performance Management
Post-merger Integration
Pricing Strategy
Process Improvement
Process Maps
Procurement Strategy
Product Launch Strategy
Product Strategy
Project Management
Quality Management


Free Resources
KPI Library
Lean Management
Lean Six Sigma Training Guides
Marcus Insights
Operational Excellence

Real Estate
Remote Work
Restructuring
Risk Management
Robotic Process Automation
SWOT
SaaS
Sales
Scrum
Service Design
Six Sigma Project
Social Media Strategy
Strategic Planning
Strategic Thinking
Strategy Development
Supply Chain Analysis
Sustainability
Target Operating Model
Team Management
Total Productive Maintenance
Value Chain Analysis
Value Creation
Value Stream Mapping
Visual Workplace
Workplace Safety


Product Strategy
Small Business Owner
Startup Resources
Strategic Planning
Strategic Planning Process
Value Innovation Strategy


© 2012-2024 Copyright. Flevy LLC. All Rights Reserved.