The term Industry 4 originates from the high-tech strategy of the German government, which sought to re-define the role of manufacturing post the global economic crisis. It suggests that we are on the cusp of the 4th Industrial Revolution, a cyber physical age, which will be realised over the next 20 years.
It is an age in which materials and machines are inter-connected within the internet of things (IoT), where everyday objects have network connectivity, allowing them to send and receive data. This will enable highly flexible, individualised and resource friendly mass production. It is driven by a requirement for shorter time to market, increased flexibility and greater asset efficiency.
More fundamentally Industry 4 will create new business models that will drive both evolutionary and revolutionary changes to the way in which we do business today. Businesses cannot afford to stand-still. Based on our research, in conjunction with our industrial collaborators Crimson & Co and Pinsent Masons, an Industry 4 readiness assessment tool has been developed. Its purpose is to provide a simple and intuitive way for companies to start to assess their readiness and future ambition to harness the potential of the cyber-physical age.
Download a copy of the report, which includes the self-assessment tool to benchmark your organisation against the 53 companies that completed the original survey.
Industry 4 readiness assessment tool