"Industry 4.0 is set to revolutionize manufacturing and production. It represents a paradigm shift from centralised to decentralised smart manufacturing and production. Smart production becomes the norm in a world where intelligent ICT-based machines, systems and networks are capable of independently exchanging and responding to information to manage industrial production processes.
Cyber-physical production systems (CPPS) made up of smart machines, logistics systems and production facilities allow peerless ICT-based integration for vertically integrated and networked manufacturing. The merging of the virtual and the physical worlds through CPPS and the resulting fusion of technical processes and business processes are leading the way to a new industrial age best defined by the 'smart factory' concept.
The smart factory is designed according to sustainable and service-oriented business practices. These insist upon adaptability, flexibility, self-adaptability and learning characteristics, fault tolerance, and risk management. High levels of automation come as standard in the smart factory - this being made possible by a flexible network of cyber-physical system-based production systems which, to a large extent, automatically oversee production processes.
This represents a production revolution in terms of both innovation and cost and time savings and the creation of a 'bottom-up' production value creation model whose networking capacity creates new and more market opportunities." - Germany Trade & Invest (GTAI)
Dive straight into News and Stories that pertain to your business: