Minimizing Industry 4.0 Investment

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May 26

Are you tired of all those promises of digital transformation and technological advancement? Want to keep your Industry 4.0 investment as minimal as possible? Well, I've cracked the code! Here’s the sure-fire way to do it:

Drumroll, please...

Attempt to deploy new Industry 4.0 technologies at scale without changing how your company operates.

Ta-da! It's like magic – and it works every time!

Let's dive into the secret recipe

Ignore data: Pretend data is just a buzzword. No need to capture or analyze it.
Resist change: Keep your infrastructure, systems, and processes exactly the same. If it’s not broken, don’t fix it, right?
Cling to old roles: Don’t redefine roles and responsibilities. Change is scary!
Maintain mindsets: Encourage your employees to keep their traditional mindsets. New ways of thinking are overrated.
Avoid new incentives: Don’t introduce new incentives for digital initiatives. The old ones work just fine.
Stick to existing models: Why experiment with new business models when the old ones have brought you this far?

However, if you do decide to Implement Industry 4.0 the right way through full-scale Digital Transformation the results are impressive. According to McKinsey, the typical value captured by successfully implementing Industry 4.0:

15-20% Inventory-holding cost reduction
15-30% labor productivity increase
30-50% machine downtime reduction
10-30% throughput increase
85% forecasting accuracy improvement
10-20% cost-of-quality improvement.

Without this transformation, the value you can capture will be limited. So, if you're serious about Industry 4.0, it's time to embrace change and start your digital transformation journey.