4 Strategies to Prepare for Industry 4.0

May 18, 2017 by Samantha SauerSamantha Sauer

Robots operating autonomously on factory lines, drones delivering packages to doorsteps, 3D printed organs working alongside our own. Just 15 years ago, these ideas may have sounded like plot lines out of a sci-fi novel. Today, they’re in the news.

It’s evident that we’re on the precipice of something big. Industry 4.0, the term being used to describe these innovations in manufacturing, IT, and materials, will lead to sweeping changes.

Whether you see Industry 4.0 as an opportunity or a threat, it’s important to make provisions for the inevitable shift that is happening.

Learn more about Industry 4.0: What Does the Fourth Industrial Revolution Look Like?

To take full advantage of this change, business owners need to commit to being a leader in this new environment. They also need to invest in the technology and skills that will make them competitive now and into the future.

Related: The Fourth Industrial Revolution Is Here: What Do You Need to Succeed?

As we move into Industry 4.0, here are four strategies to keep in mind.

1. Don’t ignore the inevitable.

New technologies are developing quickly. While it can be tempting to take a “wait and see” approach to the coming changes, executives and business owners need to remain vigilant. Monitor emerging technologies, watch what competitors are doing, and start thinking about how you’ll implement these new technologies.

  2. Try before you buy.

In a fast-changing environment, it can be difficult to decide what technologies and trends will positively transform your business and what could end up an expensive and ineffective add-on. Planning and testing are key. Don’t buy the hype; buy the solution that will work for you.

3. Create a plan for retraining current employees, and recruiting for the skills you cannot train.

 Industry 4.0 will require new skillsets, and manufacturers will need to attract and train the right talent. Existing training programs may need to be expanded to include new technologies that are introduced to the marketplace. Manufacturers also need to recruit for Industry 4.0, which may differ from how they have done it in the past. Instead of focusing on qualifications determined by degrees and certificates, companies should recruit for capabilities to succeed.

4 . Implement, test, revise, and repeat.

Staying ahead of the competition during Industry 4.0 will require constant iteration and flexibility. It’s not about buying software and then watching the new system play out. To compete in Industry 4.0, manufacturers must be flexible and agile in the face of change.

In our guide, “Are You Ready for the Fourth Industrial Revolution?” we take a look at what it means to thrive in Industry 4.0, and what tools are necessary to keep up with new world market demands.

Download the guide here:

(RSS generated with FetchRss)

Previous Article
What Project Management in Manufacturing Looks Like Today [Infographic]
What Project Management in Manufacturing Looks Like Today [Infographic]

Manufacturing is essentially a series of sequential steps in a longer process. Because each step must be co...

Next Article
5 Time Tracking Myths Debunked
5 Time Tracking Myths Debunked

Hello! You’re probably here because you don’t track time on your projects. I’d like to convince you that yo...