benandgawslegal

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ben and gaws legal - Industry 4.0
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The COVID-19 pandemic, apart from inducing
serious health challenges across the globe, also
brought forth disruptions in the supply-chain
ecosystem especially in the manufacturing sector.
Increased volatility in the manufacturing market
cascaded leaders to ponder over the question, how
will manufacturing and its supply chains look
after COVID-19?   The immediate response to the
COVID-19 crisis has been the adoption of digital
solutions. Manufacturing leaders are leveraging
Industry 4.0 solutions to handle the market
volatility, communication disruptions and supply
chain issues. Most of the companies have adopted
a centralised nerve centre, around 39 percent of
them have adopted a control-tower approach in the
bid to improve and increase end-to-end supply
chain transparency.
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Industry 4.0 can be interchangeably used with the
fourth industrial revolution, the term represents
a new automation stage in the way organisations
can control their industrial value chain. This
involves increased adoption of cyber-physical
systems or smart machines, that leverage modern
technologies and control systems, have softwares
systems that capitalise the increased
capabilities of IoT (Internet of Things). This
intricate web of networks, paves way for easy
communication - products and means of production
can communicate better and enjoy transparency,
which further results in value creation and
real-time optimization.   Manufacturing leaders
are leveraging cyber-physical systems to create
smart factories. These smart factories capitalise
the Internet of Things for remote monitoring, for
tracking and tracing.
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Ben and Gaws legal explains that Industry 4.0 can
be defined as the trend of automation and data
exchange in manufacturing technologies that
consists of cyber-physical systems, cloud
computing, the Internet of things and cognitive
computing, and the amalgamation of all these to
create smart factories.   Industry 4.0 is often
interchangeably used as the fourth industrial
revolution and has the following characteristics -
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• It brings more automation in comparison to the
  third industrial revolution.
• It bridges the gap between the physical and
  digital world via cyber-physical systems.
• These cyber-systems are enabled and super charged
  by the Industrial Internet of Things
• Increased shift from central industrial control
  systems to smart solutions, products and
  interfaces.
• Closed -loop models and control systems
• Customisation of products and services.
• Industrial 4.0s goal is to provide and enable a
  decision-making process which is autonomous,
  real-time monitoring of assets and processes,
  enabling efficient and effective real-time
  connectivity generating value creation through
  transparent involvement of stakeholders and
  horizontal and vertical integration.

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Ben Gaws legal, recently launched
fabricationbazar.com, a website that offers
real-time monitoring, tracking and tracing of the
products. The website has led to an increased
real-time optimization, transparency and trust
among the stakeholders. The portal offers a great
deal of information related to products, document
approval stages, displays production images from
on-site and gives information of the status of
installation as well. This direct model of
personalised servicing and production, and
customer interaction (including real-time actual
images of the products) has cut down
inefficiencies, and have reduced the cost of
intermediaries. This new digital supply chain
model has sped up production, improved
efficiencies, increased trust and transparency
and has added value to the Ben Gaws brand name.
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Industry 4.0 is nothing but information-intensive
metamorphosis of the manufacturing and related
industries in todays world of people, processes,
services, systems, big data and IoT enabled
assets. All this enables utilisation of data and
information and transforming it into actionables
for the customers or clients thereby improving
the customer experience and efficiency of the
industrial operations. The key player is most
definitely the Internet of Things equipped with
its arsenal of IoT stack components, IoT
platforms and Industrial IoT gateways, devices
and much more. However, it is just not limited to
Internet of Things, big data, cloud computing
along with cloud platforms, advanced data
analytics, advanced storage solutions, mobile,
data communications, network technologies,
manufacturing execution systems, enterprise
solutions, enterprise resource planning
technologies, and innovative data exchange
models, all of these have a important role to
play in enabling Industrial 4.0 for the
manufacturing sector.
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The Coronavirus pandemic may have thrown the
world off rail from its path of economic
development, but it has also presented an
opportunity for all of us to do better and build
better. As the economies and organisations across
the world restart their normal operations, they
have the opportunity to rebuild better. We have
the opportunity to reimagine our future with
digitised capabilities and build more resilient
operations - one which doesnt get disrupted due
to any future epidemic or pandemic. Industry
4.0s success has shown it is indeed the
transformative journey that every industrial
sector must embark on, for it can be scaled for
increased efficiency, productivity, value and
transparency.