Industry 4.0 in Manufacturing
Manufacturing is undergoing major transformation. The fourth industrial revolution, known as ‘Industry 4.0’, is rapidly integrating the physical with the digital; disrupting manufacturing with automation, digitalisation and new materials. This impacts products, supply chains and pushes manufacturers to shift business models towards customer-centricity.
You can see the impact of Industry 4.0 through society’s reliance on technology, including:
- Automation and robotics
- Internet of Things (IoT) and increasingly connected devices
- Machine-to-machine and human-to-machine communication
- Artificial intelligence and machine learning
- Sensor technologies
- Big data and advanced analytics
- Changing cyber landscape
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. Allowing businesses to create more personalised products and giving customers more control.
For manufacturers, the road to Industry 4.0 may seem overwhelming, particularly when large corporations lead the way – however, through ‘incrovation’ – or incremental, iterativeinnovation – and a holistic approach, manufacturers can adopt Industry 4.0 more readily.
Adopting Industry 4.0
Helping you manage uncertainty
BDO’s manufacturing group helps industry players adapt. We provide business audit and assurance, tax, business services, advisory and consulting services to manufacturers, distributors, retailers and wholesalers. Our clients range from entrepreneurial and privately owned businesses to publicly listed companies, both in Australia and internationally.
At BDO, our specialists provide practical and strategic guidance by helping you identify and leverage key competencies in your existing manufacturing business. With deep sector experience, we help manufacturers improve their day-to-day business performance, manage their risks and enable their people to deliver on 4.0 - by helping them through the process of digital transformation, and adapting their tools and cultural approaches so that new ways of doing things become part of their DNA.
Whether it is providing strategic advice on operational efficiencies, such as supply chain review, reviewing distribution models and inventory management; we can assist your manufacturing business to adopt Industry 4.0 principles for continued growth and improved customer experience.
Our goal is to help our clients succeed and grow. We help address critical issues that affect the industry and your business by combining extensive industry experience and specialist knowledge; along with building long-standing relationships with clients and industry stakeholders, to truly identify and respond to the needs of our clients.
Our team of experts work together to offer a holistic approach to your manufacturing business. BDO’s manufacturing team provide a complete range of services as well as specialised services for manufacturers including:
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