Radwell E Magazine Issue 01 - Page 6



What are some of the
benefits of using
Industry 4.0 technology?
You need to consider the long-term benefits of using
industry 4.0 technology in your manufacturing
business.
LONG-TERM COST EFFECTIVENESS
You might be hesitant to adopt Industry 4.0
technology because the initial infrastructure costs can
be high. However, the ROI can be substantial after
you amortise the cost over time. You will also reduce
the cost of human labour, waste and fines for
compliance failures. You may also realise a massive
increase in productivity. If you purchase the right
manufacturing automation systems, it can pay for
itself quickly.
Companies using Industry 4.0 technology can
improve customer satisfaction by producing goods
more rapidly. However, there are other reasons why it
is invaluable for companies trying to offer better
customer service. Many customers need to refine
their specifications and service models over time.
FASTER PRODUCTION TIMETABLES
AND BETTER SCALABILITY
Manufacturers have difficulty meeting their evolving
expectations with older technology. Fortunately, smart
data and automated manufacturing technology
improve responsiveness. Manufacturers can alter the
software they use to oversee production. A few slight
modifications can have a profound impact on their
manufacturing models, which makes it much easier
for them to respond to new customer requests.
Industry 4.0 technology also significantly improves
the agility of manufacturing processes. Organisations
can reduce the time it takes to deliver products by:
MINIMISING THE RISK OF INJURY AND
THE COST OF LIABILITY CLAIMS
• Keeping production running 24 hours a day, seven
days a week
• Not needing to slow production to compensate for
employee sickness
• Using technology that does not slow due to human
fatigue
Employee injuries in the manufacturing industry are
noticeably higher than most other sectors. The cost of
injuries can be substantial because they consist of:
• The risk of employee lawsuits
• Having to pay higher UI premiums due to past
accidents
• Paying steep fines for regulatory violations after an
accident triggers a compliance audit
• Facing the costs of disruptions in production due to
reduced manpower after one or more employees
are injured
Industry 4.0 is already proving to be much more
efficient. This will lead to faster product deliveries and
better customer satisfaction in industries with high
wait times.
06
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