Industry 4.0 technologies were already transforming manufacturers’ operations before the pandemic. Now adoption is diverging between technology haves and have-nots. Even in parts of the world where COVID-19’s initial effects have started to recede, serious dislocations appear likely to remain a fact of life for some time to come, with executives constantly facing new pressure. In a recent survey of manufacturers in Asia, for example, struggles with sudden materials shortages were a common issue (reported by 45 percent of respondents), along with steep drops in demand (41 percent), and worker unavailability (30 percent).
Yet volatility was becoming a watchword among supply-chain and manufacturing leaders even before the pandemic. As businesses adjust to the next normal, executives are grappling with the longer-term question: How will manufacturing and its supply chains look after COVID-19?
Most important, they are likely to be much more digital, as is already evident in the immediate response to the crisis. Industry leaders are leveraging Industry 4.0 solutions: 39 percent have implemented a nerve-center, or control-tower, approach to increase end-to-end supply-chain transparency, and around a quarter are fast-tracking automation programs to stem worker shortages arising from COVID-19.
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/Service Ventures Team
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