According to McKinsey’s report, if Indian firms implement Industry 4.0 through functions such as manufacturing, distribution network, logistics, and procurement, they will raise their operating income by 40% at less than 10% of their expected capital expenditure. Industrial revolution (IR) 4.0 means the automated warehouses that interconnect electronic digital devices that interact and update status about raw materials, appliances, robotics, and people. Components of IR 4.0 in the manufacturing and e-commerce sector includes the Internet of Things(IoT), cloud computing, Smart and automated warehouses, Artificial Intelligence.
IR 4.0 is a blend of many forward-looking innovations and technologies that will revolutionize the development scenario in the 21st century. A product manufactured solely based on mechanical conditions will no longer survive in the world market. With the help of smart warehouses, high quality and efficiency are achieved. In Gujarat, Ford operated its manufacturing unit-Sanand with 437 robots. Hyundai has also taken steps to increased its operating cycle by using over 400 robots at the Sriperumbudur manufacturing unit in Tamil Nadu (India’s ready for industry 4.0 report).
Advantages of IR 4.0
- IoT facilitates connectivity between individuals and devices, leading to improvement inefficiency.
- To collect data points and other related information at any level of the production cycle, you will require real-time quality monitoring.
- The introduction of robotics & automation will shorten the production process and contribute to the productive use of resources.
- Cutting costs and increasing service for consumers will benefit from the digitization of different business operations.
- Automation allows for greater flexibility, better quality in products, and more efficient production.
Impacting role of IR 4.0 in Warehouse?
Industry 4.0 is going to be the future of the warehouse. Implementing components of IR 4.0 will surpass the limits of their activities by creating a framework to enforce the necessary adjustments in real-time. Bajaj Auto has increased its production from 507 vehicles per person per year (V/P/Y) to 804 cars V/P/Y utilizing its collaborative robots (Cobots), a rise of 58.5 percent year-on-year (YOY). For industries or 3PLs that manage a warehouse, it is essential to automate their warehouse to satisfy demand, because automated warehouses refine their operations and dramatically improve their internal performance. The most important quality of successful companies is that they are evolving rapidly and adapting to new technological developments leaving others behind.
There’s no foolproof strategy or script for IR 4.0 and every firm must come up with a solution of its own. Are you a company who would like to pursue modern technological advances and to get specialist advice when faced with a range of warehouse challenges? Flexli technologies is on the move !!! Flexli analyzes the customer’s problem and provides comprehensive R&D solutions that are perfectly customized at an affordable cost. We believe that creating a trustful and friendly partnership with our clients is paramount for us. We incorporate all of our strength and dedication into your growth, which will lead you to a profitable and scalable business.