Industry 4.0– Opportunities and Challenges
Dr. Anup S Vibhute
asvibhute@coe.sveri.ac.in
Professor & Head of Department of E&TC Engg.
SVERI’s College of Engineering, Pandharpur
Now a day, Industry 4.0 is the term has been used frequently by all means. The term Industry 4.0 in its simplest form is Industry Revolution 4. Previous three industry revolutions have transformed the human life. The focus of first revolution was on transforming hand production to machine production using steam power and water power. Second revolution talks about technology mass production through electrification, mechanization and inventions like telegraph, rail led to economic growth. Third revolution is started in late 20th century and it is also called as digital revolution. The introduction of communication systems like telephones, broadband communication supported by supercomputers started gaining the importance. The introduction of wireless communication along with internet laid a foundation for industrial revolution 4.
Now let us see what Industry 4.0 is? The use of new digital technologies which will lead to greater efficiencies and change traditional production relationships among suppliers, producers, and customers—as well as between human and machine. Industry 4.0 is a transformation in manufacturing industry, supply chain management, etc. The flexible manufacturing where the machines will communicate with each other (M2M), they will interact with human being will come into existence. This manufacturing revolution will increase productivity, shift economics, foster industrial growth. So in short the manufacturing becomes smart manufacturing and factories will become smart factories and this will modify the profile of workforce.
It is need of hour to get familiar with the technologies that are going to govern the industry 4.0. Basically there are nine technologies (in broader sense)that are going to transform industrial production.
The major focus will be on:
1. Simulation
2. Horizontal and Vertical system integration
3. Industrial IoT
4. Cyber Security
5. The Cloud computing
6. Additive Manufacturing
7. Augmented Reality
8. Big Data and Analytics
9. Autonomous robots
Apart from this many experts consider 3D printing, Multilevel Customer interaction and profiling, Mobile devices and smart sensors as a part of Industry 4.0.
Opportunities:
Companies have big challenge to survive in this competitive market with latest technology. Its major concern is to understand the digital technology and its implementation. The change always comes with new opportunities. We need to find it. As mentioned earlier Industry 4.0 will modify the profile of workforce, it will provide new employment opportunities to those who are well versed with these technologies. The relationship between supplier, factory and customer will bring a new hope of business opportunities. In short Industry 4.0 facilitate
· Companies to adopt the principles of Industry 4.0- Interconnect Information transparency, Technical assistance, and Decentralized decisions.
· New opportunities in terms of – employment, supply chain management, Integration of various services, etc.
Challenges:
Eventhough we think that the Industry 4.0 will transform the industry production, but there are various challenges that need to be considered
· Economic
o High Costs, Business models
· Social
o Privacy
o Unemployment specially of blue collar
o Redundancy of IT departments
o Stakeholders benefit
· Political
o Regulations, standards and Certification
o Legal issues and data security
· Organizational
o Lack of adequate skill sets
o Qualified staff
o Reliability and stability of M2M
o IT regulation issues, etc.
For countries specifically South East Asia the above challenges are the major concern for all the industries.
In current scenario, looking at steps and measures taken by Indian government, Industry 4.0 will open door to new technologies which will turn will be a golden door for career and business opportunity to Indian Youth. To conclude,
“The Bigger the Challenge, The Bigger the Opportunity”
References:
https://www.bcg.com/capabilities/operations/embracing-industry-4.0-rediscovering-growth.aspx
https://www.epicor.com/en-in/resource-center/articles/what-is-industry-4-0/
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