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The Digital Enablement of Reliability and Asset Management with Industry 4.0 Solutions

The Digital Enablement of Reliability and Asset Management with Industry 4.0 Solutions

IMC Presentation 21:05 Minutes

by Reinaldo Silva, Facteon Intelligent Technology Limited

For many businesses, making an operational upgrade can be particularly daunting. However, with the technological revolution and subsequent innovation levels unlikely to cease anytime soon, businesses need to work together to overcome perceived barriers affecting their adoption of Industry 4.0 technologies. With any operational change, there are corresponding changes in both workplace processes and culture. It’s one thing to adapt to newer automated software systems, but inspiring new streams of collaboration in the wake of these continues to challenge managers. It’s no longer business as usual, but teamwork remains key to optimizing operations. There’s also a misconception that modernizing a factory means that it must be refitted with the latest machinery and this can be a significant, yet unnecessary, roadblock for many looking to start their Industry 4.0 chapter.

It doesn’t have to be this way. Ultimately, the key to successful implementation of revolutionary technology is retaining an intrinsic focus on your business needs. Unless these are fulfilled, the application of multiple trending technologies is pointless. Often, existing machinery can be leveraged to prevent unnecessary financial expense. The solution can sometimes be as simple as fitting sensors and Industrial IoT hardware to current operational assets. This lack of education and understanding around such Industry 4.0 principles and the ways in which technologies can be applied meaningfully, is impacting the growth of manufacturing.

Manufacturers should be actively learning from Industry 4.0 solutions providers who have already navigated this journey and know how to successfully combine existing and new operating technology (OT) with innovative information technology (IT) to provide the right Industry 4.0 solution that can enable manufacturers to improve efficiency, reduce waste, trust processes and increase profit and achieve the ultimate goal of becoming truly globally competitive.

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