Forbes estimates the cost of downtime alone is over $50 billion each year for industrial manufacturers. This is more than substantial and can often be the difference between a company making or losing money. The article points toward predictive maintenance gaining prominence to significantly reduce downtime, to learn faster and predict failures long before stoppages can ever happen.
"Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning is young." Henry Ford.
Value chain-wide resilience, operational agility and hyper-connected, intelligent IT infrastructure are prevalent organizational trends during this mid-pandemic period. They also contributed to the initial disruptions which brought the global supply chain structure to a grinding halt in early 2020. From a strategic standpoint, it has become more evident that there is a race among participants in all global industries to digitalize their entire operations and in some way, shape or incorporate technologies which constitute the Industry 4.0 paradigm.
Digitizing tasks and activities for frontline workers, while providing real-time operational visibility and driving process optimization and improvement, across all areas of business operations.
