• About
  • Privacy & Policy
  • Contact
Tuesday, May 24, 2022
  • Login
MYTECHMAG-A Leading Technology Magazine
OGAD Top Banner
Qube Events NPF Top Banner
Cyber Defense Top Banner
Global Net Zero Action 2022
Exhivits The Virtual Exhibition Top Banner
Project Finance & Project Financial Modelling Top Banner
CCUS Top Banner
Energy Storage Top Banner
Payments Summit Europe Top Banner
Renewable Energy Power Purchase Agreements Top Banner
Digital Transformation Conference Top Banner
Data Driven Oil & Gas 2022 Top Banner
DWS Top Banner
LNG Top Banner
  • Home
  • Technology
    • Supply Chain
    • Enterprise Security
    • Cloud Technology
    • RegTech
    • HPC
    • Collaboration
    • IOT
    • Compliance
    • Artificial Intelligence
    • Field Service
    • CRM
    • Project Management
    • Fintech
    • Risk Management
    • Cyber Security
    • Enterprise Architecture
    • EAM
    • ECM
    • Block Chain
    • Data Analytics
    • Robotics
    • Disaster Recovery
    • Marketing
  • Industry
    • Retail
    • Healthcare
    • Construction
    • Pharma
    • Education
    • Textile
    • Aerospace and Defense
    • Banking
    • Smart City
    • Oil and Gas
    • Telecom
    • Travel & Hospitality
    • Agri Tech
    • Media & Entertainment
    • Logistics
    • Manufacturing
    • Legal
    • Government
    • Real Estate
    • Automotive
    • Food and Beverage
    • Biotech
    • HR
    • Insurance
    • Energy and Utilities
    • Contact Center
    • Capital Market
    • Chemical
    • Sports
  • Vendors
    • Aerospace and Defense
    • Agri Tech
    • Artificial Intelligence
    • Automotive
    • Banking
    • Capital Market
    • Cloud Technology
    • Collaboration
    • Construction
    • Contact Center
    • CRM
    • Cyber Security
    • Data Analytics
    • Disaster Recovery
    • EAM
    • ECM
    • Energy and Utilities
    • Enterprise Architecture
    • Enterprise Security
    • Fintech
    • Government
    • Healthcare
    • Insurance
    • IOT
    • Legal
    • Logistics
    • Manufacturing
    • Marketing
    • Oil and Gas
    • Pharma
    • Retail
    • Risk Management
    • Smart City
    • Supply Chain
    • Top CEOs
  • Magazines EditionsMost Clicked
  • News
  • Featured Articles
  • Top CEOs
  • Events
No Result
View All Result
  • Home
  • Technology
    • Supply Chain
    • Enterprise Security
    • Cloud Technology
    • RegTech
    • HPC
    • Collaboration
    • IOT
    • Compliance
    • Artificial Intelligence
    • Field Service
    • CRM
    • Project Management
    • Fintech
    • Risk Management
    • Cyber Security
    • Enterprise Architecture
    • EAM
    • ECM
    • Block Chain
    • Data Analytics
    • Robotics
    • Disaster Recovery
    • Marketing
  • Industry
    • Retail
    • Healthcare
    • Construction
    • Pharma
    • Education
    • Textile
    • Aerospace and Defense
    • Banking
    • Smart City
    • Oil and Gas
    • Telecom
    • Travel & Hospitality
    • Agri Tech
    • Media & Entertainment
    • Logistics
    • Manufacturing
    • Legal
    • Government
    • Real Estate
    • Automotive
    • Food and Beverage
    • Biotech
    • HR
    • Insurance
    • Energy and Utilities
    • Contact Center
    • Capital Market
    • Chemical
    • Sports
  • Vendors
    • Aerospace and Defense
    • Agri Tech
    • Artificial Intelligence
    • Automotive
    • Banking
    • Capital Market
    • Cloud Technology
    • Collaboration
    • Construction
    • Contact Center
    • CRM
    • Cyber Security
    • Data Analytics
    • Disaster Recovery
    • EAM
    • ECM
    • Energy and Utilities
    • Enterprise Architecture
    • Enterprise Security
    • Fintech
    • Government
    • Healthcare
    • Insurance
    • IOT
    • Legal
    • Logistics
    • Manufacturing
    • Marketing
    • Oil and Gas
    • Pharma
    • Retail
    • Risk Management
    • Smart City
    • Supply Chain
    • Top CEOs
  • Magazines EditionsMost Clicked
  • News
  • Featured Articles
  • Top CEOs
  • Events
MYTECHMAG-A Leading Technology Magazine
No Result
View All Result
MYTECHMAG-A Leading Technology Magazine
No Result
View All Result
Home Manufacturing

How Industry 4.0 Technologies helped Businesses Stay Afloat during the COVID-19 Crisis

John Duff by John Duff
June 16, 2021
in Manufacturing
How Industry 4.0 Technologies helped Businesses Stay Afloat during the COVID-19 Crisis
21
SHARES
83
VIEWS

Covid-19 pandemic forced the manufacturing industry to reconsider their current infrastructure and ways of work. They had to take extraordinary measures to maintain operations and protect their workers. Those that were digitally prepared were not much impacted and recovered well, but it served as a reality check for those on their journey to digitization and a wake-up call for those who were refraining from using the Fourth Industrial Revolution technologies.

A recent survey of over 400 companies worldwide by McKinsey reveals that the technologies of Industry 4.0 helped 96% of the respondents to keep their operations running during the crisis, while 56% of them found them critical to their crisis responses.

Here’s how the technologies of the Fourth Industrial Revolution helped companies in their efforts.

A Win for Early Adopters

Companies that had already started adopting Industry 4.0 technologies before COVID-19 found themselves better positioned to respond to the crisis. For instance, a consumer-packaged-goods (CPG) company in Asia had created a digital copy of its supply chain much before the pandemic, which allowed it to prepare itself for emergencies, such as – disruptions in raw-material supply or sudden shutdowns of manufacturing locations. Multiple success stories like this one have caused excitement about the potential of Industry 4.0 technologies.

Strategic Goals of Industry 4.0 Technology Adoption

Industry 4.0 has a very important role to play moving forward. It can help businesses in the following ways:

  • Enable them to survive during a crisis.
  • Shorten the recovery phase and enable them to resume normal operations as soon as possible.
  • Make businesses more resilient.

Industry 4.0 can help achieve these goals because of the capabilities it offers. Some examples are:

  • IoT can provide real-time visibility into the availability of raw materials, finished products, assets, and capacity.
  • Artificial Intelligence can help businesses constantly reassess and re-plan activities.
  • Robotic Process Automation can help with repetitive and labor-intensive tasks.
  • With the help of 3-D printing, spare parts can be printed which get stuck in the supply chain.
  • Autonomous electric vehicles and drones can reduce reliance on people.

How can Organizations Determine which Digital Technologies they Need?

After COVID-19, several companies are in the race to adopt Industrial 4.0 technologies, but their biggest challenge is getting started. Here’s how they can determine the best technologies for their specific needs.

  • By taking stock of their current environment.
  • Determining the areas that need help.
  • Determining the repetitive tasks that employees are wasting their time on.

Once these points have been covered, the next step is to start small on one project. Assessing the results is very important in order to scale to additional projects. Once positive results start appearing, investments in other digital technologies can be made to improve the manufacturing process.

Changing Priorities

After the pandemic, the priorities of businesses have changed considerably. Besides raising productivity and minimizing costs, companies are focusing on improving agility and flexibility in operations. The technologies that enable remote working and collaboration have gained huge importance in the post-pandemic world. Technologies that aid collaboration and visibility across the end-to-end supply chain have also gained prominence, highlighting the need to manage volatile and disrupted supply networks.

What does the Future look like for Industry 4.0 Technologies?

Even after the pandemic, Industry 4.0 technologies will continue to gain importance as they help us to develop more robust and resilient businesses that are better equipped to deal with future disruptions. Over the long term, spending in this market will accelerate further, and Industry 4.0 digital technologies will become a primary driver for competitive advantage.

Tags: BusinessesCOVID-19 CrisisIndustry 4.0iotManufacturingTechnologies
Share1Tweet5Share8
Previous Post

Digital Banking in 2021 – Benefits

Next Post

7 Core Features to look for When Choosing a Pharmacy Management System

John Duff

John Duff

Related Posts

Mike Melzer
Executive Voice

How the Great 8 Transforms Your Manufacturing From Good to Great [White Paper]

December 8, 2021
MYTECHMAG Manufacturing Edition Dec 2021
Manufacturing Edition

Manufacturing Edition Dec 2021

December 2, 2021
Alithya Logo
Manufacturing Solution Providers

Providing Strategic Advice, Guidance & Support using Microsoft Dynamics 365

December 2, 2021
Next Post
7 Core Features to look for When Choosing a Pharmacy Management System

7 Core Features to look for When Choosing a Pharmacy Management System

Qube Events NPF Side Banner
Digital Transformation Conference Side Banner
LNG Side Banner
Project Finance & Project Financial Modelling Side Banner
Exhivits The Virtual Exhibition Side Banner
Energy Storage Side Banner
Global Net Zero Action 2022
Data Driven Oil & Gas 2022 Side Banner
Payments Summit Europe Side Banner
Renewable Energy Power Purchase Agreements Side Banner
OGAD Side Banner
Cyber Defense Side Banner
CCUS Side Banner
DWS Side Banner
Tweets by MyTechMag
Qube Events NPF Side Banner
MYTECHMAG

Transforming news into insights, not only do we serve as a source of information but as the breeding ground for innovative ideas and exchange of breathtaking strategizes that can make a difference in your technological understanding.

Follow Us

  • Home
  • About Us
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Sitemap
  • News
  • Subscribe
  • Contact Us
  • RSS
  • Write For Us

Recent Posts

Stephen Kosslyn

Stephen Kosslyn Net Worth, Biography, Age, Career, Salary & More 

May 24, 2022
Vladimir Tenev

Vladimir Tenev Net Worth, Biography, Age, Career, Salary & More

May 24, 2022
  • About
  • Privacy & Policy
  • Contact

© Copyright © 2022 MYTECHMAG. All Right Reserved.

No Result
View All Result
  • Home
  • Technology
  • Industry
  • Vendors
  • Magazines Editions
  • News
  • Featured Articles
  • Top CEOs
  • Events

© Copyright © 2022 MYTECHMAG. All Right Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In