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Industry 4.0

I m p a c t o f I n d u s t r y 4 . 0 o n S M E s

Industries are under constant pressure:
▪ to improve product quality,
▪ boost factory efficiency,
▪ stay competitive,
▪ enhance safety, security & sustainability,
▪ remain profitable.

In view of the above, SMEs will have challenges to address the following
▪ Networking and reduction of barriers
▪ Increased flexibility to meet virtualisation requirements
▪ Decentralisation of decision making and steering away from individualised mass production
▪ Real-time capability as against local production and build to order to control inventory turns
▪ Strategically change the orientation to providing a service whilst retaining low pricing
▪ Move towards a modular approach in view of larger economies of scale for bigger companies
▪ Data Analytics – value chain cannot remain fragmented; more of a globalised approach

Image reproduced from https://blog.4stepstudio.com/2018/06/20/advantages-of-digital-marketing-for-small-business/ 6