With a huge development in technology, every industry is looking to automate their business process and improve productivity and efficiency. Industry 4.0 will impact all sorts of industries to have better-coordinated supply chains for providing a unique digital customer experience. Many organizations in Malaysia are progressing towards Digital Transformation through Industry 4.0 and by creating smarter factories.
According to latest market research report “Industry 4.0 Market by Technology (IoT, Artificial Intelligence, Industrial Metrology, Industrial Robotics, AR & VR, 3D Printing, Digital Twin, and 5G – Offering, Application, and End Users) is estimated to be valued USD 87 billion in 2019 and is expected to reach USD 310 billion by 2023.
Let us see what Industry 4.0 is, how it can help businesses grow and why the manufacturing industries in Malaysia should adopt it.
Industry 4.0 in Malaysia
In recent time, the manufacturing industries has achieved rapid developments. From mass production using huge labour force to use of robotics for increasing production efficiency. Today, the next phase of the revolution is termed as Industrial Revolution or Industry 4.0. Industry 4.0 or SMART Factory is the cutting edge development in the manufacturing industry that help them automate the production processes by using digital technologies.
Talking about few of the innovation nowadays companies like Advantech are making factories smarter with IoT Overall Equipment Effectiveness (OEE) Solution which covers utilization rate, production efficiency and yield.
SMART CNC and SMART Plastic Injection Molding OEE Solution
To accelerate the implementation of smart machine monitoring and management in Industry 4.0 applications, GLODEC has worked with solution partner like Advantech to offer SMART CNC and SMART Plastic Injection Molding Machine solutions by enabling IoT integration from M2M communication, edge computing to cloud-based services. These SMART solutions are developed to bridge the gap between traditional machines to optimization in order to improve operational efficiency. It also helps in checking availability of production line, work order progress, etc.
How Industry 4.0 is evolving in Malaysia?
According to Industry4WRD Policy, the Ministry of International Trade and Industry Malaysia has taken the proactive measure to develop a National Policy on Industry 4.0, to transform the Malaysian manufacturing industry and its related services to be smart, systematic and resilient.
The aim is to not only make better things but make things better by creating innovative products and services. This involves improving product design, engineering, planning and execution of all services and products across all Malaysia.
Why Businesses Should Adopt Industry 4.0?
Smart factory offers wide range of benefits to manufacturing firms as it incorporates the use of emerging digital technologies like intelligent robots, 3D printing, machine learning, artificial intelligence and IoT. The connected smart factory enables businesses to remotely monitor the manufacturing process which in turn help them to optimize their processes. The IoT connected devices from smart factory communicate, interact with each other and with humans in real-time through a cloud platform.
Businesses around Malaysia are predicted to position themselves in adopting Industry 4.0 in coming years. Manufacturing accounts for over 80% of all exports and 23% of GDP, according to the Malaysia External Trade Development Corporation (MATRADE) and Department of Statistics Malaysia (DOSM). The Electrical and Electronics (E&E) industry, with its products and services related directly to Industry 4.0, is also expected to lead Malaysian exports.
With Industry 4.0 businesses can have end to end solution from suppliers, procurement, design, production, and logistics to sales and service. Only the manufacturers who will adopt the decentralized intelligent production approach of Industry 4.0 will be able to compete profitably in the most demanding global markets.
GLODEC Solutions offers Industry 4.0 and IoT solutions ranging from SMART CNC machine, SMART Water Meters, SMART Injection Molding Machine to SMART Surveillance. For any information please contact us.