MANY amazing innovations are coming to products and services today.
A dazzling array of smart, connected products and innovative services are making their way into homes and offices. Today, people can purchase a smart refrigerator that tracks the quantity and freshness of groceries and can re-order the weekly shopping list automatically. Smart watches track our activities and vital signs, and they can communicate important information back to health care providers and even call for assistance. In many major cities, almost any product or service is just a click away via a phone app are just a click away.
Industry 4.0 is where digital and physical worlds converge to make these new products and services come to life. Industry 4.0 is a label that is applied to this latest industrial era and more specifically its impact on manufacturing industries. In the first industrial revolution, water and steam power enabled mechanical manufacturing processes. In the second industrial revolution, electricity powered homes and factories, introducing mass production capabilities. Then simple computers, developed in the middle of the 20th century, ushered in the third industrial revolution. And now, a number of new technologies are taking shape to power the fourth industrial revolution.
Some key technologies underlying Industry 4.0 include big data and analytics, autonomous robots, additive or 3D manufacturing, augmented reality, the Internet of Things (IoT), mobility, and simulation, along with all the needed connectivity and cybersecurity to keep everything connected and secure – and running from the cloud. Each of these technologies is incredibly complex and is changing and growing at a rapid rate. These novel scientific advances point to a future of manufacturing that will be much different than the current state.
Reference Source : How ERP solutions support Industry 4.0 – The Manufacturer