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Industry 4.0 strategy, Low hanging fruit

Nowadays we frequently hear about the industry 4.0 outlook and it’s solutions, for example:

• Digital recording of material movement and automatic logging 
• Status tracking of machines and tools 
• Analysis of the active decision support dashboard’s integrated production data 
• Early warning system, real-time rule based alert in the event of process problems 
• Controlled maintenance and troubleshooting with augmented reality 
• Datamining and proactive quality assurance 
• Intelligent and adaptive tools/ manufacturing equipment 
• Machine-machine communication 
• Collaborative robots 
• … etc. the list goes on

It is easy to get lost between the promising catchphrases and we are faced by questions: “What strategy to choose?”, “What approach leads us to our goals?

Comparing the industry 4.0 opportunities to fruits hanging on a fruit tree: the fruits that grow at the highest seem much shinier and tastier, however picking them comes with substantial risk. The fruit on the ground and the lower hanging branches is easy and cheap to harvest. Thus the most worthwhile strategy is to collect the fruit from the ground up to easily earn revenue that we reinvest - in the form of a ladder – to gain access to the fruit nesting atop the tree with less risk.

Therefore when making an industry 4.0 strategy we should take into account the business’s current situation and market opportunities. Additionally the development must at least extract the cost of the investment, namely the Net Present Value (NPV) must be positive (NPV>=0), the Pay Back Period (PBP) should not be too long (PBP

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