Article by Sneh kumar Purohit, Chief Strategist – EVM India
Industry 4.0, also commonly referred as the Fourth Industrial Revolution, has significantly altered the indian manufacturing landscape. By employing smart technology and components, manufacturers now have ability to automate the entire shop floor, eliminate manual procedures, enhance product quality, and reduce leakages.
The consumer has to be consistently prioritised in any company’s business operations. In order to retain the attention of today’s clients, it is mandatory for leading brands to consistently provide them with customer experiences that are both exhilarating and motivating. A portion of the brand experience is comprised of the product experience, which is associated with production. Despite a singular emphasis on operations, the brand experience encompasses a multitude of additional elements, including innovative business models that facilitate life, a commitment to customer satisfaction, and on-time delivery. These can be accomplished more efficiently and effectively by integrating Industry 4.0.
An Introduction to Industry 4.0
Industry 4.0 integrates digital data from a variety of sources and locations to drive the actual p of manufacturing by integrating the Internet of Things (IoT) with relevant physical and digital technologies, including analytics, robotics, high-performance computing, artificial intelligence and cognitive technologies, advanced materials, and augmented reality.
The concept of Industry 4.0 involves the integration and expansion of the Internet of Things (IoT) within the physical world, which encompasses the physical-to-digital and digital-to-physical transitions that are comparatively unique to manufacturing processes. However, the transition from connected, digital technologies to the production of a physical object is the essence of Industry 4.0.
How Industry 4.0 Enhances Customer Experience
Easy Customer Understanding
In a survey it was observed that 60% of the purchase process for B2B customers is decided prior to engaging with a salesperson, and 90% of their product investigation is conducted online. Manufacturers have historically been slow to adjust to the importance of an online presence. Nevertheless, it is evident that the B2B audience places a high value on digital engagement.
E-commerce platforms may prove advantageous. Not only they allow manufacturers to expand their audience through a digital catalogue, but they also facilitate the collection of consumer behaviour data. Examples include the most popular items by demography, demand surges, and whether they are correlated with the broader market. All of these can help manufacturers improve the overall consumer experience and become more customer-centric.
More Effective Customer Engagement
Regardless of the stage of the purchasing procedure, a consumer is always eager to experience engagement. Diverse Industry 4.0 technologies may prove advantageous in this context. Customers who are just beginning their journey may find artificial intelligence and virtual reality advantageous. Even after they have made a purchase, customers continue to desire excellence. In addition to the apparent well-functioning product, flawless quality of service, and a frictionless experience, customers desire proactive assistance. A company can now use augmented reality for employee training and equipment repairs, improving job efficiency and safety. This also enhances product quality for customers by reducing human error in manufacturing processes.
Fleet managers and operators can enhance their asset maintenance requirements, team availability, and resource utilization by utilizing solutions to collect critical & key data in a single location. Manufacturers can prevent equipment defects by utilizing this in conjunction with IoT-enabled equipment that can collect real-time data on machine performance and productivity, as well as conduct root cause investigation and expedite remediation.
In conclusion, the majority of industries are under pressure to remain current with technology, as it is in a state of perpetual evolution. This is logical, as the appropriate technology has the potential to enhance a variety of factors, such as internal productivity, process efficiency, cost effectiveness, product quality, and data quality. However, it is important to remember that a company’s capacity to remain competitive is contingent upon factors beyond technology. Rather, the consumers are the ultimate decision-makers in determining the long-term viability of a company. Manufacturers should consider Industry 4.0 in this context. It is a method for them to enhance and sustain their business in the long term.