The aerospace industry is adopting digital technology and is getting to grips with industry 4.0.
FREMONT, CA: The effects of Industry 4.0 in several industries have already been seen, with enhancements to existing value propositions evolving or entirely new ones being implemented. In aviation, digital technology fundamentally changes the airline industry landscape, giving way to low-cost airlines allowed by internet booking systems. The question of how industry 4.0 can be deployed upstream in the mature, highly regulated aerospace manufacturing sector remains. Read on to know more.
Industry 4.0 will enable the aerospace industry to become more self-sufficient and compete against countries that conventionally have cheaper labor rates. The uptake of digital technology can make organizations far more efficient, for instance, using insight engines to sort data from the myriad of sources now available. These new systems may need changes to business processes or even organizational structure, which may be met with stakeholders' resistance. From a business perspective, the deluge of data available would enable more data driven decisions to be made, like deciding the minimum efficient scale for their production facilities.
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This change in value gather could also affect supply chain management, including greater partnerships and transparency, leading to more efficient production processes, Just-in-time inventory management, and understanding of the true cost of production. This ultimately may result in a change from the conventional supply chain and vertically integrated organizations to more specific, agile organizations working within commercial ecosystems.
The effect of automation on employment has been debated since the inception of robotics. It is the issue of employers to undertake automation. This is an avenue to redefine jobs and mitigate the number of repetitive tasks that employees perform. Office-based workers are no longer required to commute to facilities every day, both mitigating emissions and enhancing their work-life balance without affecting productivity.