How Industry 4.0 makes supply chain more efficient
The LCL focused on “Supply chain management 4.0” in its executive education workshop on 15 and 16 January.
Commonly referred to as Industry 4.0, we witness the fourth industrial revolution that brings together cyber and physical systems, coupled with pervasive (reactive) sensing and massive volumes of data that is crunched by advanced analytics systems yielding major improvements in efficiency.
Embracing Industry 4.0, supply chains adapt and change as well. Quoting Kai Hoberg, the lead instructor of the workshop, “in an end-game, live information on a machine’s condition could trigger production of the 3D-printed spare part that is then shipped by a drone to the plant to meet the engineer that is scheduled to replace the part.”