Industry 4.0 is bringing further automation and digitisation to the metals industry.
The latest industrial revolution is commonly known as Industry 4.0 but is also strongly associated with the Internet of Things (IoT).
Yet just how significant is it? According to John Lichtenstein, managing director of natural resources for Accenture Strategy, it could result in a “quantum leap” in productivity and efficiency, helped along by the convergence of several new digital technologies.
The impact varies greatly given that not all companies are starting at the same level. But Accenture Strategy has estimated, based on modelling it has done at several metal production facilities, that companies could expect to see around an 11-15% improvement.
“This next phase of manufacturing goes beyond the automation and robotics that were part of Industry 3.0,” says Matt Meyer, vice-president of digital innovation at Kloeckner Metals Corp, the Roswell, Georgia, based subsidiary of Germany’s Kloeckner &...