Productivity growth in manufacturing is stuck. Despite improvements in equipment, software and management approaches, annual labor productivity growth in the U.S. was around 0.7 percent between 2007 and 2018.
STURETVANT, WI — Foxconn executives and state officials opened a renovated and expanded advanced manufacturing center at a southeastern Wisconsin technical college.
Digitization, Industry 4.0 and the Industrial Internet of Things (IIOT) are buzzwords we hear quite often today. What do they mean for the wire processing industry? How will digitization affect our business, and how will we measure our performance?
AACHEN, Germany—Automotive 5G manufacturing production has begun here by GO Mobile AG, enabled by 5G connectivity from Ericsson and Vodafone Germany. The technology delivers secure and almost real-time data networking across the full production chain.
Factories of the future will feature advanced technology, such as additive manufacturing, artificial intelligence, augmented reality, data analytics and digital twins. While many manufacturers are still ramping up their Industry 4.0 initiatives, several assembly plants are already at the forefront. They are embracing the Fourth Industrial Revolution and reaping the benefits.
Just as lean manufacturing is about more than eliminating waste, Industry 4.0 is not merely a matter of connecting machines and products via the Internet.
By now, we've all heard the hype: The Industrial Internet of Things (IIoT) will fundamentally change manufacturing and offer a cornucopia of benefits, including increased efficiency, higher quality and more responsive supply chains.
Data analytics, augmented reality, generative design, artificial intelligence, cobots, additive manufacturing and other technologies are already helping manufacturers increase efficiency, reduce downtime, lower prices, differentiate themselves in the marketplace, and improve service, delivery and quality.
STAMFORD, CT—More manufacturers are investing in digital twin technology. In fact, a recent survey conducted by Gartner Inc. claims that 75 percent of organizations implementing Industry 4.0 initiatives already use digital twins or plan to within a year.
Businesses increasingly recognize the growth opportunities offered by digitalization and interconnectedness. These technologies are enabling new business models, efficient use of resources, and cost-effective production of highly customizable products. These developments are collectively referred to as "Industry 4.0."