LMW
LMW

Do you want to advertise here? Contact us

OEM Play Store
OEM Play Store

Do you want to advertise here? Contact us

OEM Update
.

Implementing Industry 4.0 model could be achieved in a series of steps: Research

By OEM Update Editorial May 14, 2018 1:47 pm IST

New research from Siemens Financial Services (SFS) identifies six key challenges facing manufacturers in the process of moving to an Industry 4.0 model

A new research paper released by Siemens Financial Services (SFS) titled “Practical Pathways to Industry 4.0” has identified six key challenges facing manufacturers in the process of moving to an Industry 4.0 model. The research paper also found that digital skills and access to finance for digital transformation are the top two challenges to a successful transition.

“Considering financing possibilities early on and in the very first stages of strategy and planning will give manufacturers a wider range of options when managing the acquisition of new-generation digital technology,” comments Sunil Kapoor, MD and CEO, Siemens Financial Services Pvt Ltd. “Specialist financiers like us have a deeper understanding of the technology and assets required for transitioning to Industry 4.0, and its implementation – thus enabling investment while easing pressure on manufacturers’ cash flow and working capital.”
According to the research paper, implementing an Industry 4.0 model is likely to be achieved in a series of steps, rather than a wholesale and sudden change. SFS interviewed over 60 manufacturers and expert management consultants in order to understand the hurdles associated with the transition. Manufacturers identified six key challenges in the paper, which include (ranked in order of importance): Developing digital skills, access to finance for the scale of investment, creating a culture of collaboration, overcoming data and cyber security concerns, gaining comprehensive access to a broad enough volume and range of proof points and specialised strategic management capabilities to create a clear, phased plan to achieve Industry 4.0.

Advertising

OEM Android App

Your future advertising space? Our media data

Cookie Consent

We use cookies to personalize your experience. By continuing to visit this website you agree to our Terms & Conditions, Privacy Policy and Cookie Policy.

Tags: Cover Story
Webinar
Webinar

Do you want to advertise here? Contact us

Autodesk
Autodesk
Trucut
Trucut
OEM Update QR Code
OEM Update QR Code

Events

Logimat India
Logimat India
Metal Forming Expo
Metal Forming Expo
ChemProTech India 2025
ChemProTech India 2025
Aerodef India Manufacturing Expo
Aerodef India Manufacturing Expo

eMagazine December 2024

eMagazine December 2024
eMagazine December 2024

Do you want to advertise here? Contact us

Our Sponsors

Carl Zeiss India
Carl Zeiss India
STMCNC
STMCNC
Maco-c
Maco-c
Inovance Technology
Inovance Technology
Mallcom
Mallcom
igus
igus
Delta Electric
Delta Electric
Wago Pvt Ltd
Wago Pvt Ltd
Studer
Studer
Urgo Capital
Urgo Capital
Prostar
Prostar
Super Slides
Super Slides
Quality Spares Center
Quality Spares Center
Endress Hauser
Endress Hauser
ACE Micromatic Group
ACE Micromatic Group
Hosabettu Heavy Machinery LLP
Hosabettu Heavy Machinery LLP
Ceratizit
Ceratizit
Chicago Pneumatic Tools
Chicago Pneumatic Tools
Concord Hydraulics
Concord Hydraulics
MMC Hardmetal Pvt Ltd
MMC Hardmetal Pvt Ltd
Mennekes
Mennekes
TruCut
TruCut
Voestalpine
Voestalpine
tectyl
tectyl
LMW
LMW
BKT Tires
BKT Tires
Mitsubishi Materials
Mitsubishi Materials
Molygraph
Molygraph
Fietest
Fietest
Exorint
Exorint
Exon mobil
Exon mobil
Wika Instruments India
Wika Instruments India