Report: Why are Companies Adopting Industry 4.0 Technologies

Report: Why are Companies Adopting Industry 4.0 Technologies

Reader Story

As a visitor to the Jitterbit website, I want to see a preview of what is in the Industry 4.0 Technology report so that I can decide if I want to download it.

What is Industry 4.0?

Epicor Software and Jitterbit recently released a report entitled Industry 4.0, Technology Reaches its Tipping Point. The study examines the progress manufacturing companies have made in adopting Industry 4.0 technologies. It was based on a survey conducted by Informa on behalf of Jitterbit and Epicor.

Industry 4.0 is a name given to the current trend of improving yields by exchanging data more effectively among manufacturing systems. The umbrella term includes APIs, cloud computing, artificial intelligence, and the Internet of Things (IoT). Industry 4.0 is commonly referred to as the fourth industrial revolution. In general, the results show that manufacturing and supply chain companies are moving forward with Industry 4.0 initiatives, though most companies are still in the early phases.

Adopting Industry 4.0 Technologies

Although many pundits claim that Industry 4.0 is genuinely revolutionary, the study finds that the primary objectives that drive many organization’s initiatives are not very different from the goals that drive any business strategy. Enhancing workforce productivity and improving customer experience was cited by a majority of respondents as their primary objective.

Primary Objectives of Industry 4.0 Technology Implementation

The most common strategic objectives behind the implementation of Industry 4.0 Technologies include enhancing productivity, improving the customer experience, production automation, and achieving manufacturing and supply chain integration.

Figure 1

Question: What do you consider the primary strategic objectives of implementing Industry 4.0-related technologies at your company? (Select all that apply).

Base: All respondents; multiple answers permitted (n=211).

 

Enhance Workforce Productivity: 53%
Improve Customer Experience: 51%
Production Automation: 48%
Manufacturing & Supply Chain Integration: 46%
Product Optimization: 45%
Asset Tracking & Management: 43%
Digitization of Production & Processes: 39%
Speed Time to Market of New Products: 36%
Speed Financial Decision-Making: 27%
Product Customization: 22%

[FIGURE 1] Asked to select four primary objectives, a majority of respondents chose enhancing workforce productivity and improving the customer experience, which were closely followed by four to five other objectives.

This finding will lead many readers to conclude that while the changes in Industry 4.0 are likely to be far reaching and widespread; the trend is more evolutionary than disruptive.

The study also addresses many other important questions, including what percentage of companies are conducting pilot projects, how many of them have strategic roadmaps, and what systems are being integrated first. The study also examines some common obstacles shared by the respondents.

Download your copy of the Industry 4.0, Technology Reaches its Tipping Point report.

About Epicor

Epicor Software Corporation provides industry-specific business software designed around the needs of manufacturing, distribution, retail, and services organizations. More than 45 years of experience with our customers’ unique business processes and operational requirements are built into every solution―in the cloud or on premises. Today, over 20,000 customers in 150 countries around the world rely on our expertise and solutions to improve performance and profitability.

About Jitterbit

Jitterbit is the API company leading the trend towards the democratization of data by making it quicker and easier for businesses to exploit data from any source, embrace innovation, and make faster, more effective decisions. Jitterbit makes it easy to integrate your systems so you can focus on what you do best. The Jitterbit API integration platform enables companies to quickly connect SaaS, on-premises, and cloud applications and improve almost any business process.

Who Responded to the Survey?

The survey respondents represent a wide variety of industries and a balanced cross-section of company sizes, both in terms of revenue and number of employees. By the number of employees, 36% of respondents have 10,000 or more employees, 30% have 1,000 to 9,999, 12% have 500 to 999, and 22% have 100 to 499 employees.Looking at the professional profile of respondents, a majority hold management level or higher positions within their organizations, including 36% in manager, 20% in director, and 17% in executive management roles.

Download your copy of the Industry 4.0, Technology Reaches its Tipping Point report.