What are the driving forces behind Industry 4.0? We asked our masterclass Leader, Henrik von Scheel to explain further:
Actually, each industry has different drivers, but they all have the following common three stages of adoption:
- Increase Operational Excellence (Stage 1): All organisations who want to stay in business have to perform and deliver. Hence they all focus on Operational Excellence, i.e. productivity, lower risk, quality, cost cutting, effectiveness and efficiency.
- Improve Growth (Stage 2): The essence of growth is that you are better than your competitors. This is the area where Industry 4.0 is applied in Smart Supply Chain Management, Smart Products, Integrated Ecosystems (upstream / downstream), Smart Automation, Smart Contracts (using Blockchain), etc…
- Increase Competitiveness (Stage 3): In the current age of disruption, it is necessary to rethink what your core differentiation is. Differentiation is what you do, every day, through repeatable activities to serve your customers better than the competition. This is the true competitive advantage. Many talk about it, but few actually do it. This is a rare and difficult discipline to master.
Read the full interview for further details on each stage, and to find out what happens if you don't adopt the Industry 4.0 paradigm, and if its already a problem for companies.
So, what are you waiting for?
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About Henrik von Scheel
Henrik Von Scheel, has been name the leading authorities on strategy and competitiveness by the Financial Times. Most of his work is applied to national economies, triggers global themes, influences GDP growth, reset policies, and shapes the performance of the fastest growing Fortune 100 companies.
At present, he frontiers applying Industry 4.0 to the leading organizations, investing in ground-breaking innovations and implementing next generation of wealth creation with the leading “Artificial Intelligence Trading Service” provider.
The 4th Industrial Revolution alters every aspect of our lives, economy, how we live, consume, work and relate to one another