Industry 4.0 may lead to greater efficiencies in Australia’s manufacturing sector.
Described as the “fourth industrial revolution” by the Australian Government’s Department of Industry, Innovation and Science, the concept refers to the current trend of continued technological improvements and digitisation in manufacturing. While the term “Industry 4.0” was created to define a developmental stage, the progress represents a discussion that is now well underway.
Fuelled by rising data volumes, computational power and analytics, Industry 4.0 could well shake up the manufacturing sector. The Federal Government’s peak non-government standards development body in its Industry 4.0 Recommendations Report earlier this year called for a common set of standards to encourage the integration of physical and digital records. The report argues standardisation is of central importance as it involves networking and integrating several companies through a common resource.
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