Industry 4.0, also known as the Fourth Industrial Revolution, integrates new technologies in traditional industries to optimize the way products are developed, produced, and distributed. Investing in Industry 4.0 technologies can future-proof companies against the uncertainty of global markets, and allow determined managers to outpace their competition through efficiencies, better uses of data, and uncovering new sources of revenue.
Industry 4.0 requires considerable investments in both time and money. Customization is the rule, and solutions are tailored to each businesses unique challenges and resulting opportunities. So where should resources be used to get the best performance from your new digital operation? 
While each situation is different, below are six areas a company must invest in to maximize results for their overall industry 4.0 digital transformation:
Manufacturing - Industry 4.0 doesn't stop when new tech is installed on a factory floor. To fully reap all the benefits of a smart facility, companies require a wholistic look at their manufacturing operation. Though not every industry 4.0 solution is required to achieve your goals, it's worth optimizing manufacturing with a selection of digital solutions.
Human Capital Development - Companies rely on an innovative workforce to stay competitive in today's market. The heightened level of connectivity and automation requires a workforce that is trained and practiced in digital technologies. Your investment in workforce development will increase the return from your investment in industry 4.0 technologies.
IT Infrastructure - To ensure your system can support a full arsenal of artificial intelligence, remote monitoring, or digital engineering, you need the proper IT infrastructure in place. This includes having the necessary networking and Wi-Fi services in place. Network readiness is required to harness the advantages of industry 4.0 and revolutionize your facility's efficiency and capabilities.
Digital Solutions Systems and Governance - Whether implementing a new digital system or upgrading an existing one, it is important to have a plan in place for data collection, internal communication, and information access. For an effective industry 4.0 solution to succeed, it requires organized ownership over all assets to ensure the system operates effectively.
Digital Engineering Development - Industry 4.0 focuses on robust product simulation, which creates a digital replica of a physical component or structure. These computerized models provide interactive information about a unit's performance, infrastructure, and a wide range of other features. Digitalization, remote access opportunities, artificial intelligence, and robotics have generated opportunities not previously available to most companies.
Supply Management and Optimization - Asset tracking allows companies to stay ahead of inventory logistics at each phase of the supply chain. With the help of IoT at the factory level, employees maintain a centralized understanding of asset management, which allows them to adjust to changes or shortages in real-time.
How do Industry 4.0 investments drive results? Industry 4.0 connects people, analytics, and machines in real-time to optimize operations and minimize human error. See the difference true connectivity can make in downtime reduction, Overall Equipment Effectiveness (OOE), and capacity utilization.
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