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Industry 4.0: Beyond the hype – Separating ambition from reality
Industry 4.0: Beyond the hype
The Fourth Industrial Revolution (i4.0) is upon us. And some manufacturers are already taking the lead. The pressure on executives to adapt and compete is tremendous.
In this environment, executives at manufacturing companies need to separate hype from reality. They need a clear picture of the current risks and opportunities. And they need to understand what their peers and competitors are doing to drive value and capture competitive advantage.
This report offers a realistic perspective on the current state of Industry 4.0 adoption and readiness across the global market. It is based on a series of in-depth benchmarking exercises with leading industrial manufacturers around the world. And it identifies how today’s market leaders are taking advantage of comprehensive i4.0 strategies to make changes to their business models, operating models and value chains. It also offers practical advice for those striving to adapt and compete in a technology-driven marketplace.
Key insights
- A gap between executive ambition and transformative action is emerging. Nobody wants to be left behind in the race to develop the factory of the future.
- Big value will come when i4.0 is integrated at the product lifecycle and value chain level. Many are beginning to achieve notable cost and productivity improvements from their investments.
- Many are facing significant challenges scaling up those projects and capabilities to drive enterprise-level value.
- It takes more than technology to successfully implement i4.0. Developing the right capabilities, controls and culture will be key.
- While most manufacturers may be adopting i4.0 within their production operations, few have yet to drive stronger integration between smarter products and smarter processes.
- More will be achieved when suppliers and value chain players are also brought into the i4.0 environment.
5 key takeaways for manufacturers
A summary of what manufacturers should be thinking about and doing to secure value and create competitive advantage in today’s Fourth Industrial Revolution environment.
We believe that the time for small-scale i4.0 experimentation is coming to a close. To win in tomorrow’s competitive environment, manufacturers will need to start being bolder in their vision, strategies and actions. This summary report of our i4.0 maturity assessments provides executives with some ideas on how to start.
© 2020 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Liability limited by a scheme approved under Professional Standards Legislation.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.
