CIO OPINION
This process offers a much better range of actionable insights available to the business , which translates into improved long-term ROI .
not renounce investing in innovation and improving industrial productivity .
It also means that industries are likely to be overworked when it comes to labor in the coming years , with production expected to remain high despite fewer work positions .
With Industry 4.0 , employees will not have to extract data points with pencil and paper , which improves data accuracy . Improved data accuracy leads to consistent product quality and fewer shop floor complaints .
Implementing plans to ensure ROI
The next step is to adopt the right tools to ensure that the move to Industry 4.0 is productive and profitable in terms of ROI . This process can happen quickly ( in a few months ) if industries adopt sprint methodologies ( Agile-based ).
It involves quickly assessing current machine quality and data collection capabilities before incorporating new technologies that facilitate , unify and analyze data across multiple systems . It happens by integrating systems to ensure data quality and greater data synchronization capacity between applications used throughout production , inventory , sales and distribution .
As a result , this process offers a much better range of actionable insights available to the business , which translates into improved long-term ROI .
When implementing Industry 4.0 , industries must track KPIs , target weak areas and improve the employee experience to demonstrate a proven ROI . By not implementing the right technology for Industry 4.0 , there is a risk of having a Cost of Inaction ( COI ), which is the cost of a missed opportunity . Historical habits on the shop floor can also affect the results .
Although the process has always been conducted in a certain way , we have to look for new ways to make the task more efficient . Inaction may seem safer , but it does not build a better shop floor and will harm competitiveness . p
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