Implementing Industry 4.0 is important for manufacturers to keep a competitive edge. But there are misconceptions that can cause a company to feel like it’s just too much to even consider. In this blog post, we’ll cover and explain three misconceptions that might hold you back.
Misconception #1: Industry 4.0 Costs Too Much
The start-up cost for Industry 4.0 can certainly seem cost-prohibitive, but the benefits and the return on investment can more than make up for that cost in the long run. Industry 4.0 improvements can help you optimize your processes, reduce production times, improve efficiency, and lower production costs. It all comes down to what you should implement first that will be the least expensive or give the biggest return on investment. Still, the technologies involved in Industry 4.0 are vast and varied, and it can be hard to figure out where to start. We’ve written a blog post on how to get started here.
Misconception #2: Industry 4.0 Causes Job Losses
It’s understandable why believing that implementing Industry 4.0 can cause the loss of jobs, as it often replaces manual work. However, it’s also true that it won’t replace all the jobs, and, in fact, can create new ones. These new jobs are more skilled roles such as technicians and software engineers. In addition, some manual labor jobs could be converted to more skilled roles. Another truth about implementing Industry 4.0 initiatives, is that it makes jobs more efficient, which can lead to greater profits, and the possibility for expansion and an increased workforce.
Misconception #3: Industry 4.0 Can Only Be Used by Large Companies
While it is true that many large manufacturers have and continue to implement Industry 4.0, that doesn’t mean that smaller companies cannot also implement these digital transformations. In fact, smaller companies can obtain the same benefits that large companies do when implementing. Some of those benefits are:
- Increased throughput
- Reduction in machine downtime
- Increased productivity
Smaller companies would do well to focus on choosing the right solutions for their setup to gain these benefits.