With the dawning of the fourth industrial revolution, Industry 4.0, the Internet of Things (IoT), operational excellence, smart manufacturing and connected data are industry terms that are becoming increasingly important to the continued success and competitiveness of today’s global manufacturer.
The IoT is quickly changing the way manufacturers operate, bringing a real opportunity to achieve new heights of operational innovation and excellence.
Industry 4.0 technologies will enable manufacturers to have full visibility of operations and allow them to be responsive to information about raw materials, inventory, assets, quality, waste, output and customer demands, ensuring that opportunities for improvement are highlighted and action is taken, saving money, time and improving customer satisfaction and supplier relations.
The connectivity of equipment, people, processes, services and supply chains all make up the IoT and Industry 4.0. The emergence of this new era of embedded technology means that information regarding how these things are integrated together is available at your fingertips. For manufacturers to compete effectively in the ever-changing global marketplace, full advantage of this available technology will need to be taken.
Access to meaningful data means a better view of operations, allowing for better analytics and real-time responsive decision making to drive continuous improvement and operational excellence. According to analyst research, the manufacturing industry will be the largest beneficiary of the IoT, so it’s definitely something that will have a major impact on the pharmaceutical and healthcare industry.
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