Smart manufacturing: Big change and the way forward in reshaping industries

Is the manufacturing industry on the verge of digital transformation? Is it on the brink of technological revolution? Industry 4.0, smart factories, Industrial Internet of things, Robotics, or AI, you hear it everywhere you go. Let's try to analyse it here.

What is Fourth Industrial revolution or Industry 4.0?

First, we need to understand the term or meaning of the Fourth Industrial revolution. What was the need to implement it? Why is it required in a fast-changing world and unpredictable market and how it is reshaping industries. The answer is that manufacturing has taken a big leap and Industry 4.0 is the next phase of manufacturing. It is in fact, changing the way we look at manufacturing. The term was first used by Klaus Schwab, founder of the World Economic Forum. Industry 4.0 is the complete transformation of how industrial companies or organisations operate. To name a few technologies: Industrial IoT, robotics, additive manufacturing etc. Industry 4.0 helps to boost efficiency, be proactive in responding to market unpredictability and to use new business models.

Key components of smart manufacturing

AI use has impacted almost every industry in a positive way, and it has played a big role in smart manufacturing too. The manufacturers seek help of AI algorithms with machine learning techniques to analyse the data collected from production. Not only this, AI helps detect various faults, potential failures and improve the efficiency of equipments.

Internet of Things (IoT)

IoT is also a widely used technology helping smart manufacturing revolution in the industry. With the help of different techniques, sensors and networks, the manufacturer can track the real time information or track the inventory which helps them control the process from wherever they are sitting or any part of the world.

Robotics & Automation

Robotics & Automation are also playing a major role in smart manufacturing and in reshaping industries. Advanced and high-tech robots are being used to get the work done of monitoring and supervising the manufacturing facilities. It also helps in handling

the repetitive labour tasks. This technology is used to ensure the effective utilisation of resources with minimum hassle and maximum efficiency. Moreover, the robots can work with humans simultaneously to increase productivity with minimum errors.

Not limited to large scale industries

As the name suggests, the technology is not only being used by large scale enterprises but effectively being utilised by small and medium scale enterprises too to stay alive in the market. Various initiatives by the Indian government have also boosted the smart manufacturing which in turn helping the Indian economy. Initiatives like Make in India,vocal for local are few examples.

Impact

The impact of smart manufacturing, which is supported by the government, has been immense. The govt. of India is trying to cultivate or nurture an ecosystem that supports digital manufacturing. They are also making sure that be it large scale industries, small scale or SMEs, they thrive in Industry 4.0. This in turn attracts foreign direct investment, create employment and helps in economic growth.

Challenges

Though smart technology is a paradigm shift and changing the face of the industries, but nothing comes without challenges. Right workers, smart moves, technology cost, skilled labour, investing in training are essentials for a smooth transition. Also, cyber security and data breach are the other factors that need to be addressed.

Conclusion

Smart technologies continue to evolve, so the enterprise with smart manufacturing needs to ensure that they are abreast with new technologies. Industry 4.0 is the way forward and is here to stay for a very long time. Fourth revolution industry has and will continue to re-analyse production processes with innovation and sustainability.

Monarch Goyal, Partner at Mechamorph: delivering innovative solutions in mechanical product design, prototyping, and manufacturing.