How Can i4.0 Help Supply Chains?
The fourth Industrial Revolution (i4.0) has been a hot topic of conversation in manufacturing recently as executives look for new ways to stay competitive as technology continues to evolve at a dizzying pace.
Manufacturing executives need to look beyond the hype and get to the bottom of how they can effectively maximize opportunities that will give them a clear advantage over their competitors. Businesses are now moving past the i4.0 experimentation stage, which it means it is time to start scaling up and taking some concrete action, particularly when it comes to the supply chain.
Solving Long-Standing Supply Chain Challenges
In fact, i4.0 is showing a lot of promise when it comes to solving many of the challenges that supply chains have faced in recent years. For example, it could be used to create better visibility throughout the network that extends into suppliers at the bottom tiers, thereby reducing risk and enhancing flexibility.
In addition, by providing unprecedented access to data on product usage and the customers themselves, customized product solutions can be delivered at scale. It can also help reduce inventory levels and improve forecasting.
Those leading the way in i4.0 supply chains are focusing on integrating their suppliers and customers into a supply chain that is driven by demand. In addition, they are using the cloud for connecting with suppliers and improving not only quality but also responsiveness.
Moreover, they are making use of sensors throughout all aspects of operations to gain the right data so they can model and predict different potential supply chain scenarios. Smart leaders are doing this while taking steps to protect against risks when it comes to cyber security and data privacy.
In addition, they are finding new ways to drive performance by rethinking the traditional supply chain and cutting out unnecessary processes through collaboration with suppliers.
This blog post was based off of an article from Industry Week. View the original here.