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Abstract

With the increasing demand of customisation and high-quality products, it is necessary for the industries to digitize the processes. Introduction of computers and Internet of things (IoT) devices, the processes are getting evolved and real time monitoring is got easier. With better monitoring of the processes, accurate results are being produced and accurate losses are being identified which in turn helps increasing the productivity. This introduction of computers and interaction as machines and computers is the latest industrial revolution known as Industry 4.0, where the organisation has the total control over the entire value chain of the life cycle of products. But it still remains a mere idea but an achievable one where IoT, big data, smart manufacturing and cloud-based manufacturing plays an important role. The difference between 3rd industrial revolution and 4th industrial revolution is that, Industry 4.0 also integrates human in the manufacturing process. The paper discusses about the different ways to implement the concept and the tools to be used to do the same.
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