The figure above shows the revolution of business models over time. The technologies that aid the implementation of industry 4.0 have developed owing to the following reasons:
Main technology enablers are cloud computing, big data, Internet of Things, 3D printing, Cobots, Machine Learning, Augmented Reality, cyber-physical system, and real-time optimization. In short, it’s all about going DIGITAL.
We will discuss Industry 4.0 and all the technologies concerning the apparel industry in other posts (in detail). Although the benefits are quite evident, we shall see the benefits exclusively in the next section to boost motivation. (in brief).
The advantages of going Digital “So, this is the goal: To make money by increasing net profit, while simultaneously increasing return on investment, and simultaneously increasing cash flow.”, Jonah told Alex in The Goal by Eliyahu Goldratt. We all are striving for the growth of profit and the people and planet from the triple bottom line of the business. Automation and adoption of industry 4.0 help us move towards these goals by offering the benefits mentioned below:
Albert Einstein said, “Imagination is more important than knowledge. For knowledge is limited, whereas imagination embraces the entire world, stimulating progress, giving birth to evolution.”
Innovation is the need of the hour. Businesses need to be creative, innovative and need to have an open mind for the advancements to keep themselves ahead in the race and to reduce the effects of COVID on fashion supply chain.
Arya BLOG · TECHNOLOGY
Supply Chain COVID-19 Automation Digital transformation