Industry Today – by Vanja Subotic and Paul Yarka
Many manufacturers are hesitant to adopt Industry 4.0 technologies, systems and practices. And not because of ignorance toward its potential innovations, but over concerns for the implementation costs and complexities. Although these worries are legitimate, the benefits of transitioning to modern smart technologies—including cloud, cyber-physical equipment (connected manufacturing equipment), and data-enabled transparency and decision making—far outweigh the time and resources needed for adoption. Most notably, studies reveal that businesses experience increased productivity, lower operating costs and improved product quality. In fact, it is safe to say that manufacturers that do not adopt Industry 4.0 will erode their competitiveness and eventually experience increasing cost. To stay competitive, manufacturers must begin to develop an implementation strategy for Industry 4.0 as soon as possible!
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