A recent analyst event given by Tata Consultancy Services’ (TCS) evolved Industry 4.0 into a broader Business 4.0 theme. It included many of the technologies underpinning Industry 4.0, and extended this beyond the manufacturing portion of an industrial enterprise. Here, optimization and digital transformation goes from the plant floor into other aspects of the business.
The key factors for implementation of Business 4.0 were described by Regu Ayyaswamy, Vice President & Global Head, IoT & Engineering and Industrial Services, TCS. Here the Internet of Things (IoT) extends from business planning, design, development, manufacturing, supply chain, sales and services.Data from these business functions provide a means to get feedback and closed-loop approach to business management.
Krishnan Ramanujam, President, Business & Technology Services, TCS went further and described the key factors for implementation of Business 4.0 and digital transformation. This can be segmented into two approaches.
- One involves improving operations by examining business processes with a value stream map (a lean technique). Incorporating IoT and analytics appropriately provides lower costs, faster execution, and higher performance.
- A second approach focuses on understanding the business processes within the customer, and using IoT to create new services that helps them improve their operational performance.
Ralph’s 21 tweets and associated pictures from this TCS event in Boston can be found here
ARC’s upcoming forum “Digitizing and Securing Industry, Infrastructure, and Cities” in February 2018 will delve into the impact of industrial IoT from many perspectives including Business 4.0.Everywhere we turn, things and processes are becoming more intelligent, connected and optimized.