Low waste generation and high productivity brings higher revenue. The future lies pretty much a lot on technologies and most probably having a robotic world. With less human input in a manufacturing process, it will decrease the possibility of defects and increase the production quality. However, this doesn’t mean that human will lose their job but contribution on innovation and process improvement is essential.
Smart factory, also called as Industry 4.0 involves the Internet of Things, Big Data, cloud computing and cyber-physical systems. The internet of Thing is the main stream in technology and people has been talking about this. When we mention about the IoT, first thing that comes into your mind might the wearable such as Fitbit, smart glasses or Apple watch. It seems like the revenue of IoT are these items but likely in future, it is on the enterprises which is manufacturing.
Internet of Things in smart factory enables cyber–physical mechanism to connect with each other and human beings in real-time. The smart factory provides advanced and automated facilities to make manufacturing process faster, more efficient, and safer. This is helping to minimize the gap between digital world and traditional industrial manufacturing methods. Smart Factory technology is all about leveraging the available tools from automation, software and machine tools. It is also about demolishing the line between the physical and digital worlds to create a whole new future for the industry.
The key to making this magic work, and the mechanism that makes all future smart factories work, creating a dense mesh of technologies that are integrated and cooperating into a smarter, more efficient whole.
Source : Wikipedia