The beacons of technology and innovation in manufacturing

This report, published in January 2019 by the world economic forum and McKinsey analyze the best practices of the leading companies for innovation and technology in manufacturing. Considering that despite the pieces of evidence on efficiency and added value provided by industry 4.0, many companies still do not know how to integrate it into their processes, this report offers some guidelines to accelerate its adoption. By interviewing 1000 leaders around the world, the world economic forum and McKinsey identified the critical elements of transformation that accelerate the effective implementation of technological solutions,

What are the main facts to remember from the study?

1- The 4 enablers of the implementation of industry 4.0

The world economic forum and McKinsey have identified the elements that facilitate the implementation of technologies in factories:

• Realization of 4th industrial revolution strategy and business case
• Implementation of IoT architecture built for scale up
• Capability-building through acquiring new skills
• Workforce engagement

2- The 5 values that contribute to the adoption of industry 4.0

According to the results of this study, the value factors that contribute to the adoption of industry 4.0 by the manufacturers are the following:

• Making decisions based on Big data
• Democratize the use of technologies
• Adopt “agile” working mode
• Reduce implementation costs for adding new features to use-cases
• Implement new business models

3- The 6 actions to scale up the benefits of industry 4.0

The report suggests six actions to implement in order to quickly spread the benefits of industry 4.0.

• Augment, instead of replacing, the operator
• Invest in capability-building and lifelong learning
• Diffuse technologies throughout geographical areas and include SMEs
• Protect organizations and society through cybersecurity
• Collaborate on open  4th Industrial Revolution platforms
• Address the challenge of climate change using 4th Industrial Revolution technologies

Download the full report