If you're in the manufacturing field, chances are you have been reading about Industry 4.0 for a while now.
It might seem like it's too late at this point for SMEs, like you're too far behind.
That's not the case at all!
While many large manufacturers have made the leap already, plenty of smaller manufacturing companies have not.
Now could be your chance to get ahead and invest in your future.
Institution of Mechanical Engineers reported that under a third of SMEs actually have a plan in place to implement Industry 4.0.
This means that small to medium sized manufacturers still have not missed their chance to get ahead of the competition!
Why haven't more SMEs invested?
"26% said Industry 4.0 and robotic automation was not practical because of a lack of infrastructure, such as 5G internet. 13% said there was a lack of financial backing to invest."
This might seem daunting, but the good news is that Industry 4.0 does not need to be a complete, expensive overhaul.
A great way SMEs can get started with this technology is with the use of sensors.
They can increase efficiency by improving visibility into your machines and reducing downtime. You can start your Industry 4.0 strategy by identifying the areas that need the most help. Begin by monitoring those machines, then expand your initiative at your own rate.
Industry 4.0 can be great for SMEs, too!