Technology is changing the landscape of supply chain at a breakneck pace, and organizations that are able to stay ahead of the curve often enjoy a significant advantage over their industry competitors. Digitization, cloud computing, big data, Internet of Things, and artificial intelligence are all major factors in shaping operational strategy. These manufacturing innovations have given rise to a trend dubbed Industry 4.0.
John Stroup, President and CEO of Belden Inc., paid a visit to The Boeing Center to share his wealth of knowledge, and to give a brief history of Industry 4.0, aka the Smart Factory. He explained that Industry 4.0, a term coined in Germany, is the fourth major iteration in manufacturing processes. “‘Smart Manufacturing,’ ‘Intelligent Factory,’ and ‘Factory of the Future’ all describe an intelligent, flexible, and dynamic production facility, where machinery and equipment will have the ability to improve processes through self-optimization and autonomous decision-making,” said Stroup. The major improvements from 3.0 to 4.0 are the ability to automate complex tasks (even remotely) and the access to data across the whole supply chain that allows for greater flexibility and connectivity.
Stroup went on to discuss the key characteristics of the Smart Factory and how innovations in digital technology have improved existing business models and enabled new ones. Such innovative technology allows for improved productivity, flexibility, and decision making, all of which benefit manufacturers and consumers alike.
For more supply chain digital content and cutting-edge research, check us out on the socials [@theboeingcenter] and our website [olin.wustl.edu/bcsci]
• • •
A Boeing Center digital production
Supply Chain // Operational Excellence // Risk Management
Website • LinkedIn • Subscribe • Facebook • Instagram • Twitter • YouTube
Pingback: Industry 4.0 History | cf