This article is authored by BBA Department
Industry 4.0 is the current trend of automation and data exchange in manufacturing technologies. It includes cyber physical systems, the internet of things and cloud computing. Industry 4.0 creates what has been called a “small factory “.This means that within modular structured small factories , cyber physical systems monitor physical processes, create a virtual copy of the physical world and make decentralized decisions. Over the internet of things cyber physical systems communicate and co-operate with each other and with human in synchronic time both internally and across organizational services offered and used by participants of the value chain.
The Fourth Industrial Revolution (or Industry 4.0) is the ongoing automation of traditional manufacturing and industrial practices, using modern smart technology. Large-scale machine-to-machine communication (M2M) and the internet of things (IoT) are integrated for increased automation, improved communication and self-monitoring, and production of smart machines that can analyze and diagnose issues without the need for human intervention.
The Fourth Industrial Revolution is the trend towards automation and data exchange in manufacturing technologies and process. This is said to have extensive dependency on 3D printing technology. It can decrease lead times and total production costs. Moreover it can increase flexibility , reduce warehousing costs and help the company towards adoption of a mass customization business strategy.