IO1 - UNIT 1, Self-assessment, Activity 1.1.3

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CREO E LEARNING

What are the advantages of the industry 4.0? *

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customisation, optimisation, pushing research

automatisation, digitalisation, less workforce needed

How can Industry 4.0 benefit the businesses: *

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decrease productivity, higher operating costs, worsen product quality, less innovation, lose competitive advantage

increase productivity, lower operating costs, improve product quality, become more innovative, gain a competitive advantage, transform your business

Smart Industry offers manufacturing companies new business opportunities in ways of: *

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less workers, lower costs, more marketing

creating smart (digitized and customized) products; creating value with (big) data; developing smart services and total solutions (servitization); contributing to social issues, applying smart technical solutions

Servitization is: *

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transformation of manufacturing companies into service or even integrated solution providers (manufacturing as a service)

shifting from a service-centric approach to a product-centric business model

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