Even today, industry 4.0 continues to mean many exciting changes as it sweeps through the business world. Manufacturers both abroad and within the US are preparing to reap the benefits of the digitalization and advanced technology. Industry 4.0 manufacturing is shorthand for the transformation that is now occurring – increasingly referred to as the Fourth Industrial Revolution.
Similar to the industrial revolutions before it, many define Industry 4.0 as a disruptive technology movement. This movement is also fundamentally changing the way businesses operate and manufacture their goods. That technology is automation and artificial intelligence, both of which are theorized to reach maturity as this decade closes.
Companies are rapidly embracing digital solutions and strategies to drive business far into the 21st Century. These digital solutions not only accelerate the pace of markets, innovation, and development but introduce newfound capabilities for data-driven decision making. In 2019, such transformations are all but a necessity of survival to keep pace with – and outpace – competitors.
Similar to steam power, electricity, and computers, the innovative technologies of their day, introduced new features into the business environment, Industry 4.0 promises to introduce greater connectivity, scalability, and security into the business world. For manufacturing, Industry 4.0 will have profound and far-reaching effects.
What Does Industry 4.0 Mean for Manufacturing in the US?
Industry 4.0 manufacturing builds upon and perfects the digitization which computers introduced in Industry 3.0. As a result, it’s no surprise that industries such as information technology, electronics, and telecommunications have largely ridden the forefront of digital maturity.
Per a study by Deloitte, manufacturing lags in its efforts to adopt digitally mature tools or strategies to carry it into the future. This reflects the fact that some regard overseas manufacturing as something of a perfected practice. It’s been a cost-effective and viable solution for so long that the disruption of outsourced manufacturing has, until recently, seemed unlikely if not impossible.
However, Industry 4.0 manufacturing threatens to do exactly that. In particular, industry experts predict that it will create a level playing field between American and offshore manufacturers. As proponents of reshoring become more vocal, domestic manufacturing companies seek to take advantage of the digital solutions which overseas manufacturers may not have considered.
Similar to previous industrial revolutions experts look to Industry 4.0 to disrupt current business processes. American companies that utilize outsource manufacturers can – and should – get ready now.
Get Ready Now for Industry 4.0 Manufacturing
For manufacturing, Industry 4.0 represents exciting new terrain. However, it may also spell trouble for companies that rely on certain Asian manufacturers. We’re referring to those who haven’t been preparing for the changes which the next industrial revolution brings to manufacturing. Avoid getting caught unaware by working with a reputable manufacturing liaison to help identify manufacturers that are ready for Industry 4.0.
ITI Manufacturing is a skilled, experienced, and forward-thinking professional liaison dedicated to meeting your outsourcing needs. Call us today to get started and speak with one of our experts! 888-574-6823