Industry 4.0 still isn't totally established in the field. Since it means different things to different companies and industries, it can be hard to figure out where you stand. Wards Auto said about the auto industry, "They are seeing some good progress. But they don’t have a firsthand view of what other players are doing. Therefore, it’s a little hard to judge if you are ahead or behind." This can be true across the board. To make matters simple, if you are using modern technology to improve efficiency and utilize metrics like real-time analytics you're on the right track. Industry 4.0 isn't an end goal, it's a state of constantly improving.
"Digital manufacturing is still in its early days," McKinsey's Richard Kelly says. Automakers "are putting a lot of effort and energy in it... But they don't have a firsthand view of what other players are doing. Therefore, it's a little hard to judge if you are ahead or behind." Read More