Industry 4.0 refers to the fourth phase in the Industrial Revolution that focuses on interconnectivity, automation, machine learning, and real-time data. Intelligent networking of machines and processes for the industry with the help of information and communication technology is changing how manufacturers do business. Simply said, it is the digital transformation of manufacturing. It gives you […]
Category Archives: Supply Chain Management
Supply chain management involves creating and selling goods and includes all processes that transform raw materials into final products. Examples of supply chain activities include farming, refining, design, manufacturing, packaging, and transportation. A supply chain contains everything from source materials from the supplier to the manufacturer to its delivery to the end user.
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COVID-19 has brought supply chain problems ranging from shipping to truck driver shortage. Two years into the pandemic, the global supply chain remains broken with delays and disruption. The unprecedented supply chain disruption has had severe operational and financial consequences, including: high demand supply shortages inventory placement challenges and worker shortage Organizations need to step back and […]