Operation Tools: Industry 4.0
Module 3 - SLP
OPERATIONS TOOLS
Industry 4.0
The Fourth Industrial Revolution is “a new era that builds and extends the impact of digitization in new and unanticipated ways.”
Session Long Project 3 Resources
What is the Fourth Industrial Revolution? (2021) https://iap(dot)unido(dot)org/articles/what-fourth-industrial-revolution
Industry 4.0: What Manufacturing Looks Like in the Digital Era (2022)
https://www(dot)visualcapitalist(dot)com/sp/industry-4-0-what-manufacturing-looks-like-in-the-digital-era/
Wondering how to start your Industry 4.0 transformation? (2022) https://www(dot)chicagobusiness(dot)com/crains-content-studio/wondering-how-start-your-industry-40-transformation
Tackling the Zombies, and Other Industry 4.0 Adventures (2022) https://www(dot)industryweek(dot)com/technology-and-iiot/systems-integration/article/21215016/tackling-the-zombies-and-other-industry-40-adventures
Five Lesser Discussed Ways Industry 4.0 Is Transforming The Factory Floor
https://www(dot)forbes(dot)com/sites/forbesbusinesscouncil/2022/01/28/five-lesser-discussed-ways-industry-40-is-transforming-the-factory-floor/?sh=3089c53112df
SLP Assignment
A “White Paper” on Industry 4.0
Using the module’s readings and other research (not more than 3 years old), write a white paper on Industry 4.0 applications.
Background
Deliver a brief background of Industry 4.0 as it pertains to operations today. (1/2 page) Research Required.
Company Best Practices Example
Using the assigned Company, provide information on what it is doing to embrace Industry 4.0. (1 page) Research Required.
Applications
Offer reasons why companies should follow through on these practices. (1/2 page) Research Required.
No quotations are permitted in this paper. Each paragraph (except the introduction and conclusion) must contain at least one in-text citation.
Since you are engaging in research, cite in the body of the post and add a reference list in APA format. NOTE: failure to use research with accompanying in-text citations to support content will result in reduced scoring "Level 2-Developing" on the grading rubric.
The paper should be written in the third person; this means words like “I,” “we,” and “you” are not appropriate. Refer to yourself in third-person as “manager” or write about what the “project team” will do, rather than saying “I” and “we.”
SLP Assignment Expectations
Use the DATA AND SCENARIOS file and the APA-formatted template (OPM300 SLP3) to create your submission.
The template is set up in APA 7: double-spacing, font, margins, headings, page breaks, APA help links.
Cover page
A paper with APA citations (2- to 3-sentence introduction, 2-page body, 2- to 3-sentence conclusion)
The reference list page in APA format
BUS300 SLP 3: Operations Tools
Your Name
University
BUS300 Introduction to Operations Management
Due Date
BUS300 SLP 3: Operations Tools
The technology revolution that alters and modernizes business processes is called "Industry 4.0." It is a concept invented in Germany, predicated on the notion of real-time production systems that are networked and automated. In the past few years, Industry 4.0 has gained traction due to the growing recognition of the potential benefits gained from leveraging technologies like artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT) to improve production and operations. The paper gives a brief background of Industry 4.0 regarding operations today, providing information on what the assigned company is doing to embrace Industry 4.0. The analysis will also explain why companies should follow these practices.
Background
Industry 4.0 applications are newly developed technologies making intelligent connections between people, automation, digitization, and data analysis, creating disruptive change. One of the most critical design concepts to the success of Industry 4.0 is interconnectivity. This means that all machines, devices, sensors, and people involved in the production process must interact and interlink with one another (Lavopa et al., 2021). The next step is information transparency, which necessitates collecting exhaustive data and information from all stages of the production process to provide better-informed decision-making.
Technical support is another need for Industry 4.0. There has to be an increased technical capability of systems to aid employees in making decisions, resolving problems, and doing complex or dangerous jobs. Last but not least, there is the concept of decentralized choices, which refers to one or several physical systems capable of independently making decisions and carrying out duties. This may be a complicated process, or it could be as easy as a system detecting machine overheating and turning on fans to maintain the unit at an appropriate operating temperature.
Industry 4.0 has several subcategories: robotic process automation, collaborative robots, sensors, artificial intelligence, machine learning, machine integration, data analytics, and robotic process automation. Companies use these for various purposes, like leveraging data to synchronize their supply and materials throughout the value chain using predictive algorithms (Wondering How To Start Your Industry 4.0 Transformation, 2022). Businesses can use these subcategories for other purposes as well. Combining end-to-end systems and technologies across financial and operational tasks and processes is another possibility to achieve seamless integration.
Industry 4.0 may also control unscheduled downtime, real-time asset usage, and perspective maintenance. These functions link the factory floor, helping reduce unplanned slowdowns. It is also beneficial to a corporation because it can identify electronic tasks that individuals or groups may be doing and then replace those individuals with robots. Last, Industry 4.0 can digitize data from the beginning to the conclusion of the supply chain, which may increase warehouse management capabilities. These capabilities include supply chain inventory and transportation logistics, which benefit the shareholders.
Company Best Practices Examples
Microsoft has a strong track record of invention and saw the possibilities of Industry 4.0 early. The company's software and services are geared toward helping firms take advantage of Industry 4.0 capabilities. The Azure IoT Suite allows users to create smart apps as a hub for managing connected devices. Microsoft has built several analytics and machine learning tools to aid manufacturers in making sense of and keeping track of their data. Microsoft also assists industrial firms in improving their productivity and efficiency. The business focuses on creating technologies that aid industrial automation and efficiency. Robotics, ...