Industrial Equipment in the 4th Industrial Revolution

IDC Manufacturing Insights outlines the principles that companies must abide by to achieve their full business potential:

  • Connecting global stakeholders requires greater standardization
  • Adopting virtualization to provide real-time access to process and product information
  • Decentralizing intelligence by relying on the Internet of Things and machine-to-machine communication to improve companies’ ability to make local decisions while maintaining centralized control and traceability
  • Analyzing machine and plant performance in real time to allow companies to react quickly to make process improvements
  • Adopting a service-oriented approach to manufacturing to increase agility when faced with late-stage customer requirement changes
  • Leveraging the power of modularity to build new products using standard components to accelerate new product introduction

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