Industry 4.0, often referred to as the fourth industrial revolution, presents logistical and manufacturing businesses with new challenges and opportunities to stay competitive in the global marketplace. Companies that embrace this digital revolution stand to benefit from increased agility and efficiency while also improving service levels to their customers while reducing costs of inventory, operations, transportation, and energy consumption. In this article we’ll take a look at industry 4.0 and how it can impact your business specifically. Supply Chain Perspective Industry 4.0, also known as the Fourth Industrial Revolution, is a term used to describe the rapid pace of change in the manufacturing and logistics industries brought about by advances in technology. These advances include cloud computing, industrial IOT, additive manufacturing, and smart operations management. While these technologies have been around for some time, it is only recently that they have been adopted on a wide...
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