Industry 4.0 refers to a new phase in the Industrial Revolution that focuses heavily on interconnectivity, automation, machine learning, and real-time data. Industry 4.0, also sometimes referred to as IIoT or smart manufacturing, marries physical production and operations with smart digital technology, machine learning, and big data to create a more holistic and better-connected ecosystem for companies that focus on manufacturing and supply chain management.
While every company and organization operating today is different, they all face a common challenge—the need for connectedness and access to real-time insights across processes, partners, products, and people.
That’s where Industry 4.0 comes into play.
# 1st Industry Revolution
The first industrial revolution happened between the late 1700s and early 1800s. During this period of time, manufacturing evolved from focusing on manual labor performed by people and aided by work animals to a more optimized form of labor performed by people through the use of water and steam-powered engines and other types of machine tools.