The sector seeks to reduce the risk in cyber security associated with industry 4.0.
Manufacturing sector trends
Industry 4.0 refers to the fourth industrial revolution, that consists of the introduction of digital technologies in industry. Devices and systems modifications collaborate with each other and with others, changing products, processes and business models. It represents a qualitative leap in the organisation and management of the sectors value chain.
New Consumer Demands. Consumer expectations of manufacturers are higher than ever before. They now demand tailored products and experiences, personalized to their wants and needs. Manufacturers are now embracing the end consumer response to their business models integrating new elements to their business plans, investing in novel systems and researching an accumulation of data to meet lofty growth targets.
The new concept of portfolio has 3 premises:
- From silly to smart: inert products are being transformed into smart devices.
- Product to platform: redesigning of the products as platforms to customize and adapt these to increase their value.
- Product to Service: as a service the value will come from connectivity, data, collaboration and learning, which establish the basis for new business models.
The new business models for Industry 4.0 creates value from generated data and give a central role to customers.
Climate change will have economy-wide impacts, and create regulatory, physical, and reputational risks for a wide range of companies. Manufacturing is not immune from these effects, as a sector it represents nearly 19% of domestic direct emissions, and it is indirectly responsible for an additional 11% of emissions through electricity use.
Changes in Value Chain Ecosystem. Manufacturers will continue to distance themselves from price wars by leveraging new technology that simplifies supply chain management, which in turn delivers many competitive benefits. These benefits include being able to operate business more efficiently, more visibility and control over inventory, reduction of operational costs, and improved customer satisfaction and retention.
Reduction of cyber risks
The 4th industrial revolution brings with it a new operational risk for connected, smart manufacturers and digital supply networks. The Industry 4.0 and the digital transformation expose the manufacturers to cyberattacks that could have far more extensive effects than ever before, and they and their supply networks may not be prepared for those that risks.
In the era of digital transformation managing workers and physical assets (equipment, installations, plants, etc.) affects all the value chain of the company. Manufacturers must deal with asset management, and it becomes difficult because, to achieve it, requires approval from multiple departments and is managed by multiple technologies.
Operational efficiency and customer insights
Manufacturing companies need to enhance operational efficiencies increasing productivity, extending asset life spans and reducing operating and maintenance costs. There are many manufacturing companies whose brand and customer connections are more important than the actual product. Understanding the customers behavior help manufacturers better understand and anticipate their needs.
New collaborative work models
New digital technologies, increasing connectivity, the drive for innovation, a greater focus on services and changes in customer demands are all factors which are behind a push towards more collaborative models. The traditional linear contracts are changing to more flexible and cooperative contracts for the new commercial relationships.
Reduction of industrial emissions and energy management
The greenhouse gas emissions come directly from industrial sources, such as manufacturing. If direct and indirect emissions are combined, the industrial sector is the largest emitting sector in the world. Today, the manufacturing industry is working to reduce the carbon footprint, taking measures such as: monitoring and reducing the energy use, reducing the waste use, switching to green energy, recycling, reducing the packaging, etc.
Network & Application Security
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