Industry 4.0 —the fourth industrial revolution that is bringing an increasing level of digitization, automation, and inter-connectivity to the manufacturing sector—is well underway. Cloud computing, big data, greater capabilities in analytics and business-intelligence, advances in artificial intelligence, as well as the continued development of the industrial internet of things (IIoT) are all driving change in the manufacturing industry. Manufacturers need to both understand and embrace these changes in order to stay competitive. Companies that have already started to adopt new technologies, such as IIoT, are seeing a 7% revenue growth advantage over their peers, according to a report by McKinsey. And the economic and social downturn caused by the current COVID-19 crisis will only deepen the divide between manufacturers who have just started to digitize, and those who are much further along on their digital journey. Luckily many manufacturers already have a tool in their arsenal that is helping them to embrace Industry 4.0, and putting them on the right side of the digital divide: An ERP system. Today’s ERPs aren’t just about replacing back-office functions and systems like inventory management, accounting, order fulfillment, and shipping: Today’s ERPs not only include these important functions but also automation, analytics, and business … Continue reading Harness the Power of Big Data and Embrace Industry 4.0