Industry 4.0 in Manufacturing
Manufacturing is undergoing a transformation. The fourth industrial revolution, known as ‘Industry 4.0’, is rapidly integrating the physical with the digital. Business operations are automating and interconnecting machines and processes. You can see Industry 4.0 through societies reliance on technology, including:
- Automation and robotics
- Machine-to-machine and human-to-machine communication
- Artificial intelligence and machine learning
- Sensor technology and data analytics.
As manufacturing connectivity grows, so will the mega-data relating to how your business operates. With more data comes valuable customer insights. Currently, manufacturers operate a business-to-consumer (B2C) model. However, Industry 4.0 is shifting this to a customer-to-business (C2B) model. Giving businesses the opportunity to create personalised products and customers more control.
BDO’s manufacturing group helps industry players adapt. We provide business assurance, tax and business advisory services to manufacturers, distributers, retailers and wholesalers. Our clients range from entrepreneurial and privately owned businesses to publicly listed companies, both in Australia and internationally.