The value of digitalization: Dimensions and perspectives
Industry 4.0, the Fourth Industrial Revolution, is inexorably gathering strength. Industry 4.0 introduces the
digitalization of processes, the Internet of Things, the installation of widespread sensors in the physical environment and the ability to rapidly enhance production economics through real-time performance-data analysis. The new generation of digitalized, automated technology now available is enabling manufacturers around the world to improve overall performance and reduce time to market through virtualized product and process development, improved productivity, increased manufacturing plant and
equipment uptime through remote monitoring and predictive maintenance as well as improved competitive.
capabilities through mass customization, where tailored products are offered with much the same economies formerly associated with mass production.
Industry 4.0 represents a significant opportunity for manufacturers to offer their customers enhanced product ranges and quality in tandem with more competitive pricing. Drawing on original research and a variety of published sources, this paper summarizes the key points of value that digitalization and automation have been delivering to those pioneering companies that have already started to invest in the new wave of digitalized technology. These key points of value are summarized in the diagram below.
Included Contents in this e-Book
- The value of digitalization: Dimensions and perspectives
- Putting a financial value on digitalization: The Digitalization Productivity Bonus
- The Digitalization Productivity Bonus: In the words of the manufacturer
- Financing the Digitalization Productivity Bonus
- ‘Think digital’: A new mindset
- Financing digitalization: The tools
- Sector focus: Food & Beverage
- Sector focus: Pharmaceuticals
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