After the introduction of industry 4.0 the premises of the market has been changed completely. Industry 4.0 increased competition in the manufacturing field. Many people still don’t believe in industry 4.0 and feel that it’s got over exaggerate when someone projects different benefits of industry 4.0. Industry 4.0 has completely changed the equation of manufacturing and not just limited to the new technology. It offers flexibility, quality, speed, efficiency and effective cost. Industry 4.0 is now getting the primary source of higher revenues. According to the report the company that is turning to the digital factory is now market leaders. What attracts a customer most, low cost, good quality, and enough availability right? The customer wants the combination of above mention factors as well as a unique product that satisfy their need. Because of the expenses, the company can only afford a few of the factors mentioned above. Which results in upsetting the customer. But now industry 4.0 offers you the best quality product at a low cost.
Help in providing the customer with best:
Industry 4.0 will help you to improve the service you offer to your customers and convince them to buy your product. Now due to technological advancement, you can track your product and communicate with your customers easily. In case of any problem or complain you can quickly before the problem turn into a major crisis. Now logically if you use industry 4.0 then there will be a chances of having issue with product, quality, availability and uniqueness. Which will results an increasing overall productivity and profitability of a company.
What is a contribution of industry 4.0 Industry as whole?
4.0 have made life easier. Customers you to grab new customers, so that you can increase market demand. Customer can now be reached at one click and they can turn if there is any problem. Industry 4.0 will help you to increase product quality and productivity. Now let’s talk about industrial iot. Iot stands for the internet of things that offer the transfer of data using network without a human to computer interaction.