Hello, aficionados of technological evolution! Welcome to a fascinating exploration of Industry 4.0 in this edition of This Week in Consulting. Today, we’re immersing ourselves in the transformative landscape where traditional manufacturing methods collide with digital technologies, setting the stage for a future-ready factory.
Bain & Company underscores the imperative for manufacturers to seamlessly integrate age-old practices with cutting-edge digital technologies. This integration, as highlighted by Bain, is a crucial step towards not just surviving but thriving in the dynamic landscape of Industry 4.0.
SAP takes the baton from Industry 4.0 and sprints towards the future with Industry 5.0, emphasizing the pivotal collaboration between humans and intelligent machines in the manufacturing process. This innovative approach by SAP envisions a harmonious coexistence, where human expertise intertwines with the capabilities of smart machines.
IBM, ever at the forefront of technological revolutions, underscores how Industry 4.0 is reshaping the entire manufacturing ecosystem. Their insights shed light on the profound impact that Industry 4.0 is having on the way companies manufacture, improve, and distribute their products. It’s not just a shift; it’s a revolution.
Korcomptenz explores the ripple effects of Industry 4.0 on manufacturing, delving into the predictions of job shifts due to increased automation. The transformative power of technology is not without its challenges, and understanding how Industry 4.0 might reshape the workforce is an essential aspect of navigating this new era.
So, fasten your seatbelts as we embark on this journey through the realm of Industry 4.0. Share your insights because your voice matters too.
Chairman Consulting Quest
This week’s must read
In this edition of This Week in Consulting, we unravel the dynamics of Industry 4.0, exploring its current market status and the trends steering into the future.
Bain’s article underscores the need for manufacturers to integrate traditional methods with digital technologies to achieve a future-ready factory. Emphasizing sustainability, it recommends over three dozen elements to transform supply chains and production systems, guiding companies toward a more adaptive, efficient future.
This week’s media
In this video XMPRO discusses and explains the four industrial revolutions leading up to industry 4.0. It also gives you a sneak peak at what Industry 5.0 might look like.
IBM underscores Industry 4.0 is revolutionizing the way companies manufacture, improve and distribute their products. Manufacturers are integrating new technologies, including Internet of Things (IoT), cloud computing and analytics, and AI and machine learning into their production facilities and throughout their operations.
Korcomptenz explores Industry 4.0’s impact on manufacturing, predicting job shifts due to automation. The article envisions collaborative human-robot relationships, higher-value jobs, and personalized products. It suggests automated accounting, computerized customer service, AI-enabled sales, and digital assistants for enhanced productivity.
SAP’s article introduces Industry 5.0, building on Industry 4.0 by emphasizing collaboration between humans and smart machines in manufacturing. Key pillars include a human-centric approach, sustainability, and resilience, offering benefits like talent attraction, sustainability, and personalized industrial automation.
McKinsey’s article discusses the challenges manufacturers face in scaling Industry 4.0 transformations. It highlights pitfalls and advocates a strategic, value-driven approach, emphasizing communication, focusing on business needs, and leveraging successful solutions for scalability.
This week’s consulting news selection
Leading global professional services firm Alvarez & Marsal (A&M) announced the appointments of Gary Rahl and Joseph Halverson as Energy practice Managing Directors.|
Deloitte Canada has acquired Flow, a Toronto-based firm specializing in scientific research & experimental development (SR&ED) tax credits.|
Leading advisory CPA firm Baker Tilly US, LLP announces a strategic investment from private equity firms Hellman & Friedman and Valeas Capital Partners.|
Alliance Technical Group announced its agreement to acquire ORTECH Consulting Inc., a prominent Canadian environmental, engineering, and science consulting firm.|
Laurent is the Chairman and Co-founder of Consulting Quest. Focused on greater value creation, and being thoroughly familiar with Consulting, Laurent has sourced and sold millions of dollars worth of Consulting over the course of his career. Prior to joining Consulting Quest, Laurent was Executive Vice President Oil and Gas at Solvay and Senior Partner Transformation at Oliver Wyman.