CIO OPINION
• Product quality
• Machine availability
• Efficiency ( cycle time and labor efficiency )
• Energy consumption
By closely monitoring the KPIs before , during and after the implementation of IND 4.0 , the industries could prove the ROI .
KPIs can also highlight areas that have benefited from technology to improve their performance . Even if its implementation does not guarantee a return to the final result , there can still be qualitative advantages for the organization . Qualitatively , Industry 4.0 provides better data on time , which can benefit more than just profits .
Establish the biggest production bottlenecks
Industries want to know the best strategies to implement Industry 4.0 to increase their efficiency . The key is to focus on areas on the shop floor where inefficiency can seriously affect productivity and profit margins .
In Industry 4.0 , not everything needs to change at once . By targeting the bottlenecks on the shop floor , you can use actionable data to improve performance while demonstrating ROI for smart manufacturing costs . Short periods of change , such as 90 – 120-day increments , should be used and measured against these pain points so that you can move towards Digital Transformation without high costs .
What Industry 4.0 means for your employees
The latest US Bureau of Labor Report showed a sharp decrease in new hires in the manufacturing sector since May 2020 , and many factories are struggling to maintain employee retention .
This improvement in data accuracy leads to consistent product quality and fewer shop floor complaints . Efficiency and the right technology are crucial for everyone , especially manufacturing equipment operators , as it affects their daily work .
Still , according to Eurofound ’ s Report ( 2019 ) Future of Manufacturing in Europe Research ( EU Publications Office , Luxembourg ), macroeconomic estimates indicate that a further increase in global overall rates will impact more in the job market in the European Union than in other regions .
It also points to a 0.3 % drop in employment on the European continent by 2030 . Of all sectors , manufacturing has the most significant decline , at 1.1 %. Brazil must also be aware of this but should
Qualitatively , Industry 4.0 provides better data on time , which can benefit more than just profits .
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