The rise of new digital technologies is changing the manufacturing industry and transforming traditional, linear supply chains into more dynamic, interconnected systems. Companies are using artificial intelligence, cloud computing, the Industrial Internet of Things, advanced data analytics, additive manufacturing, smart devices, virtual reality and advanced robotics to accelerate innovation. This transformation, commonly known in the marketplace as Industry 4.0 or the Fourth Industrial Revolution, is driving manufacturers to be more efficient and inventive.
While digital transformation was already a crucial area of focus for manufacturers before 2020, the coronavirus pandemic has forced companies to adopt digital initiatives at a more rapid clip. This RSM report provides a comprehensive look at how business leaders in the industrials space are approaching digital transformation and Industry 4.0 technologies. Included are key findings from an RSM survey of manufacturing executives, insights on the impact of the pandemic and RSM’s recommendations for how companies can continue their digital evolution.