In these competitive times, the team at NWI Business Solutions is challenging companies to be proactive by reaching out to past, current, and potential clients for a review of their current products and processes.
We encourage you to help your customers find ways to improve their products, performance, and customer service. For inspiration, we advocate drawing upon the host of new technologies, practices, and processes available under the rubric of Industry 4.0.
What is Industry 4.0?
Industry 4.0 (The Fourth Industrial Revolution) is the name given to the growing combination of traditional manufacturing and industrial platforms and practices with the latest smart technology.
As defined by Deloitte, “…Industry 4.0 encompasses a promise of a new industrial revolution—one that marries advanced manufacturing techniques with the Internet of Things to create manufacturing systems that are not only interconnected, but communicate, analyze, and use information to drive further intelligent action back in the physical world.”
Why it Matters
Your clients should embrace state of the art technology (Industry 4.0) in their operation and ensure that their own customers know they have done so. It is to their benefit to keep them informed. Indeed, this will help with their sales efforts. Encourage your clients to keep their customers informed through monthly blog articles, phone calls, websites, and social media. This will help with their own “informational selling” approach.
NWI team member Dr. Matt Liotine and NWI advisor Heidi Hattendorf, had a few thoughts to share about the significance of Industry 4.0.
Dr. Matt Liotine
“Industry 4.0 technological advances in industrial automation, which also include mobility, transportation, analytics, and autonomous intelligence, among others, have created a foundation for companies to evolve into smart enterprises. Data, information, and manufacturing systems can dynamically connect all aspects of a business together, from supplier to shop floor to customers. Such automation enables the agility to respond to increasing demand volatility and behavior arising from on-line buying, which ultimately mandates new ways of doing business. Enterprises that don’t take the initiative now to technologically innovate themselves and profit from this movement will miss out on this chance of a lifetime opportunity.”
Hedi Hattendorf
“I completely agree with everything Matt wrote on Industry 4.0. I would add that there are several communication and automation trends influencing the 4th Industrial Revolution or Industry 4.0. Among them, Artificial Intelligence/AI and also 5G are critical in the future of manufacturing. AI is crucial for analytics and informing strategic decisions and operational effectiveness. For mobility, 5G is especially important for IoT/Internet of Things and bringing the wider bandwidth needed for speed and number of devices. The ongoing transformation of traditional manufacturing and industrial practices will benefit the entire supply chain and customers globally. Benefits are focused on improved communications and self-monitoring, analysis and remote diagnostics and self-healing with little or no human intervention.”
Heidi and Matt are working with our manufacturing clients to help them uncover their new “edge”, whether it be market demand, profit margin, and/or production process. Get in touch to learn more about how this can benefit your company.
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