With Good Friday right around the corner, March ends on a holiday high. Let’s look back at the most interesting Industry 4.0 stories from this first quarter of the year, from supply woes to automotive innovations.
As Industry 4.0 solutions have taken over the market, employees of manufacturing companies have started getting anxious about job security. The number of articles that proclaim ‘Robots/Automation will destroy our jobs!’, boosted by publishers such as The Guardian, BBC, and Wired, number in the millions (2 million results on Google and counting!).
While it is true that innovation will bring many changes to the work landscape and many roles will need to be up-skilled to stay relevant, it is also important to keep in mind that Industry 4.0 solutions will affect every role differently.
As China rose through the years as a manufacturing powerhouse, the country became synonymous with exports. ‘China used to be the world’s factory’, proclaimed Forbes, as the country overtook the United States as the world’s biggest producer of manufactured goods from 2011 onwards. In 2015, it produced ‘80% of the world’s air-conditioners, 70% of its mobile phones and 60% of its shoes’, as per The Economist. In 2016, its total Manufacturing Value-Added (MVA) was a whopping 3.25 trillion, as mentioned in our previous article on ‘Made in China 2025’.
However, along with that meteoric rise in manufacturing production came an opposing dive in China’s reputation for product quality. As early as 2007, consumers and manufacturers alike were complaining of ‘quality fade’ when it came to Chinese products, explained by Forbes as ‘the deliberate and secret habit of widening profit margins through a reduction in the quality of materials’. Basically, by reducing the quality from batch to batch, factory owners were able to cut costs and increase margins, but with many potential risks.
Have you ever walked into a grocery store to buy something, saw the number of options available, and then spent an hour comparing every single one until you were sure you were getting the best product? Or refused to buy a product in-store until you had done a detailed comparison online?
In this data-driven age, this isn’t uncommon. This can be seen through the power of review sites; various research conducted has put online trust in review sites at a 80-90% range. Everyone is bombarded with information, and trying to find more information that will tell them which information is best.
Surpassing the United States in 2010, China’s manufacturing sector is now the largest in the world, with a total global Manufacturing Value Added (MVA) of USD 3.25 trillion in 2016, according to the World Bank.
China's government has committed to convert from a "high growth" to a "high quality growth" nation cemented in the 13th Five-Year-Plan. So how does this ambitious goal translate into the transformation of China's diverse manufacturing industry? Following our previous article on China's digitalization, let's have a look at the nation's digital upgrade plan for manufacturing - the "Made in China 2025" initiative.
The shortest month of the year might be ending, but that doesn’t mean that February was any less exciting. After all, Tesla and Elon Musk did send an actual car into space this month! Our top 4 Industry 4.0 news, below.
Industrial B2B sales have been going through a transformation in the past century, with user data rapidly moving online and expanding immensely in scope. When longer buying cycles on the buyer side are combined with advanced prospect targeting on the sales end, we can deduce this: buyers will expect more.
Until recently China has been tagged with economic recession factors such as regional disparities, an aging population, declining heavy-industrial sectors, bursting property bubbles, growth in debt levels, and considerable environmental issues. So how comes, it is now slightly ahead of its goal to double GDP between 2010 and 2020? President Xi's ambition to make China a “moderately prosperous country" is right on track and the country enters 2018 with robust economic-growth momentum. In this post, I want to retrace China's path to it's massive growth unlocked by a combination of several factors, one of which is the "Digital China" agenda.
We hear this often: over 90% of the world’s data was generated in the last two years. According to The Economist, 'Data are to this century what oil was to the last one: a driver of growth and change.' An IDC Paper talks about 163 zettabytes of data a year by 2025. Even in Industrial B2B sales, data has shown its impact.
The business world has changed remarkably over the last 20 years. From the times where there was a dominance of large corporations, to lean start-ups littering the landscape, to the current digitisation of business units; the world is dealing with unprecedented levels of competitiveness and upheaval.