Industry 4.0 and its related technologies offer opportunities to improve performance in R&D, procurement, production, logistics, and customer relationship management. However, many companies are struggling to understand which technologies are valuable and how to transform their operations. The risks include non-competitive performance, stranded investments, and lost profits. In a study, over 80% of companies had no clear plan for Industry 4.0 and related technologies. Companies need to organize themselves and have systems in place to manage the future of operations, be reactive to technology disruptions, and gain access to required technologies.
