“ THE ESSENCE OF INDUSTRY 4.0 IS BASED PRIMARILY ON HARNESSING OPERATIONAL EFFICIENCIES IN MANUFAC- TURING OPERATIONS ”
ACCENTURE
18 by offering consumer experiences , leveraging industrial consumerism patterns to disintermediate and reach the end consumers , while innovating new revenue streams and models .
5 . Build the workforce – in a commensurate capacity by new skilling , re-skilling , and upskilling the next generation talent .
6 . Manage the wise pivot – balance the investment , workforce , and funds
“ THE ESSENCE OF INDUSTRY 4.0 IS BASED PRIMARILY ON HARNESSING OPERATIONAL EFFICIENCIES IN MANUFAC- TURING OPERATIONS ”
— Tilak Mitra , CTO Industrial , Managing Director , Accenture
allocation between transforming the core and rotating to the new .
The term X . 0 , in Industry X . 0 , is neither coined in error , nor it is a misrepresentation of 4.0 ( as in Industry 4.0 ): it has a purpose and rationale . To begin with , the term X . 0 is in recognition and acknowledgement of the fact that digital technologies are advancing at such a rapid pace that the technology staging posts can no longer be pinned down for more than a moment ; what is 4.0 today is quickly going to progress to 5.0 , to then 6.0 , and counting . The framework for digital transformations hence needs to be constantly assessed , analyzed and refreshed to take advantage of the rapid advancements .
Secondly , it is important to acknowledge that the essence of Industry 4.0 is based primarily on harnessing operational efficiencies in manufacturing operations by leveraging technology to increase the Overall Equipment Effectiveness ( OEE ) which is typically defined as the product of Availability , Productivity and Quality metrics . However , digital transformation is truly much more than just the operational efficiency gains . Business value is increasingly favoring innovation around the generation of new revenue streams that is not only driven by innovative As-A-Service business models but also through hyper personalization of consumerism that is driving micro segmentation and hence an exponential expansion of the addressable consumer base . Industry X . 0 addresses not only the cost economics driven by traditional operational efficiencies of
DECEMBER 2018