Type
Essay
Pages
7 pages
Word Count
1783 words
School
LUMS
Course Code
Disc 230

Industry 4.0

May 17, 2020
Group 11
1. Saad Bin Shakeel (22110324)
2. Farwa Abid (22110168)
3. Nimra Arshad (22110217)
4. Atir Attique (22110191)
Introduction
The 1st industrial revolution, which took place around the end of seventeenth century, was
propelled by mechanization, water power and the invention of steam engines. The assembly lines
led the 2nd Industrial Revolution, initiated by Henry Ford. The 3rd industrial revolution that took
place in the 1970's was set in motion by automation of production processes and computers. The
term Industry 4.0 first emerged at the Hannover Fair in 2011.
The concept Industry 4.0 is really the fourth industrial revolution that turns conventional
machines into self-conscious and self-learning machines to boost their overall performance. It
encourages the connection of physical objects such as sensors, devices, and enterprise assets,
both to each other and to the Internet. Thereby, it regulates the whole value chain of the product
life cycle. It aims to build an open, smart manufacturing platform for industrial-networked
information application. It can be seen as the digital combination of cyber-physical systems with
the internet of things which translates into downstream services.
Perceived Advantages
The potential benefit of industry 4.0 is firstly the increased efficiency in terms of resources and
time and productivity, while ensuring quality. The flexibility and agility that Industry 4.0 brings
will lead to improved customer responsiveness, shorter time-to-market for the new products,
enabling mass customization and more efficient use of natural resources and energy which will
ensure competitiveness in the global market. Innovation in manufacturing industries will lead to
considerable minimization in inventory, logistics and material handling costs and shorter lead
times. Pairing of inventory management control with big data, the forecasts accuracy can
improve drastically. Furthermore, cloud-based inventory management will result in real time
interactions with suppliers. Industry 4.0 will open new markets and amplify global economic
growth.
Literature Review
Internet of Things (IoT), Industrial Internet of Things (IIoT), fully digitized and smart cloud-
based manufacturing are the main drivers behind the conception of Industry 4.0. With the rapid
advancements in technology, internet’s huge amount of data is being produced and collected
from various networks. The analysis of such huge database posed a real obstacle for many
businesses. Big Data technology helps to effectively analyze such databases, draw conclusions
from them which aid in decision making processes (Witkowski). Big Data analysis helps to
detect any interruptions and threats in supply chain early on and solutions to prevent same
problems from occurring again. Many Semiconductor manufacturers like Infineon Technologies

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