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Product Innovation and Supply Chain Leader
An Oracle-sponsored ”The Manufacturer” study into Industry 4.0 adoption highlighted that 69% of respondents believe that Industry 4.0 is going to have a significant impact on their business.
The study includes in-depth interviews with decision makers across different business functions, from 250 organisations in the UK. It outlines how UK manufacturers are considering real investment in Industry 4.0 technologies e.g. Internet of Things, Analytics etc. to gain competitive advantage.
The understanding of the Industry 4.0 term, coined about 4 years back, is definitely maturing amongst UK manufacturers (60%). Many manufacturers now realise that they can adopt one or more of the enabling technologies (Internet of Things, Big data and Analytics, Digital modelling etc.) to transform their business. Many (54%) see Industry 4.0 as the 4th manufacturing paradigm after steam/water, the mass production and electronics.
Industry 4.0 is seen as a significant business changer by 69% respondents.
Even more encouraging is the fact that many (27%) manufacturers class themselves as “very aware” of the Industry 4.0 concept.
The majority of the manufacturers interviewed (69%) see significant impact to their business from Industry 4.0. They see the potential to better segment their customer base and deliver products/services more effectively and efficiently. The impact is seen in the following areas:
With Industry 4.0 a paradigm shift is starting.
Companies are embarking on their journeys and starting from different points. The report highlights adoption use cases from Oracle customers across sectors - a toy producer; a chemical manufacturer; an architectural masonry manufacturer; a healthcare firm; an end-to-end integrated coffee chain, etc. They are using the Industry 4.0 technologies for smarter products, smarter manufacturing and smarter supply chains.
Download the complete report here.