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From the prehistoric days until today, humans have constantly been engaged in some sort of manufacturing to make their jobs simple and easier, and the process of manufacturing goods has changed tremendously over time.
With the fourth age of industrial revolution known as Industry 4.0, manufacturing is now digitized and involves lesser human efforts. The era of digital manufacturing and Industry 4.0 is already here, powered by a combination of software, processors, sensors, and information and communication technology (ICT).
If businesses do not take the path of digital manufacturing and Industry 4.0, they might end up going irrelevant and outdated. Industry 4.0 and digital manufacturing has made manufacturing easier, safer, and cost-effective. Industry 4.0 and digital manufacturing also allow customization of the outputs to fulfill the needs of the customers. Legacy infrastructure and techniques do not provide that flexibility. Adopting the capabilities of brought along by the modern manufacturing techniques, businesses can stay agile and flexible.
Many organizations from various industries are adopting Industry 4.0 and digital manufacturing techniques. For example, retailers are adding RFID tags to their products for faster tracking of the products. It allows the store managers to update inventory easily, a process that involved more staff and takes a great deal of time. McKinsey reports that digital manufacturing and Industry 4.0 are at their initial stages. However, the organizations that embrace them now are uniquely positioned to reap the maximum benefits.
See Also: Manufacturing Outlook