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Why companies should invest in technology in industry 4.0

Industry 4.0 is what everyone is talking about in the process industry. It’s the up and coming trend on increasing efficiency and promoting fast and reliable data exchange. It is driven by technological advancements. Essentially, once data from the production process has been digitized, systems used to create and analyze data will be connected, allowing them to communicate and share data.

Why is this mentioned?

This growing trend is commonly known in the industry. Many companies now are working on projects to search for the most innovative technology to advance their processes and make more efficient and effective projects. However, not every company is working to digitize their data and implement technology. This can lead to various consequences:

1) Become less competitive in the market

2) Inability to keep up with the growth of the market and its data

3) More time and costs spent

Technological advancements in this day and age is key in maximizing the value of assets. It brings all the necessary asset data required into one place and provide all the links necessary to create better and more informed decisions. Let’s evaluate how a traditional company works in solving a maintenance issue versus an industry 4.0 company:

Traditional company:

1) Some time is wasted before a fault is detected

2) Could be discovered when there’s an inspection round

3) An analysis is launched to look into the issue – this is done manually

4) Relies on human factor

5) Quality of the analysis is heavily reliant on the skill of the person and gut feeling, so not data-driven

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Industry 4.0 company:

1) Sensors to detect issues instantly

2) Or possible failure is already predicted and notified in the software

3) It can calculate the asset life cycle and remaining life of the asset

4) If the fixes is urgent, the system can tell other systems like CMMS. Notifications created in the system

5) Schedules are made for the asset to be checked and fixed

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Implementing technology to alter every work processes company-wide can be an overwhelming change. This is especially challenging for those who are used to working in traditional companies with traditional way of working. However, if companies want to survive and remain relevant and competitive in the market, they must start implementing technology that can digitize their asset data but also connect every systems used in the company. Start working more efficient and effective.

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Heinen & Hopman wanted a software solution that could provide them with the necessary tools to access and manage asset information, all from one shared database.