How Technology and the Fourth Industrial Revolution Could Transform Your Wholesale Business

The Fourth Industrial Revolution (4IR) is projected to generate up to $3.7 trillion in global manufacturing. This revolution merges biological, digital, and physical realms, leveraging technologies such as cloud computing, robotics, advanced wireless communication, 3D printing, artificial intelligence (AI), and the Internet of Things (IoT). So, what is the 4IR, and how could it transform your wholesale manufacturing business?

Understanding the Fourth Industrial Revolution

The 4IR builds upon the previous industrial revolution, which focused on computers and automation. The significant shift now involves smart machine tools, advanced software, and robotics that change the nature of work. While this may raise concerns about job displacement, it also allows employees to engage in more meaningful work. Moving forward, manufacturing jobs will require a higher level of technical and computer skills as the industry embraces a more inclusive, consumer-centric IoT. This means data will be collected and analyzed in real-time, with machines monitoring systems and consumer behavior.

When implemented effectively, these advancements can lead to improved productivity, higher product quality, and better machine utilization. Despite the promise of the 4IR, many early adopters have faced challenges. Over 70% of the production industry remains in the pilot phase, hesitating to fully commit to scaling up new technologies. Only about 30% of manufacturing companies have rolled out 4IR technologies at scale, putting them ahead of the curve. For those looking to join the 4IR movement, it's essential to either deploy new technologies or upgrade existing ones.

Where to From Here?

Digital Transformation
Digital transformation can take various forms, including moving from paper to digital processes, such as replacing Excel spreadsheets with real-time dashboards that monitor efficiency.

Overall Equipment Effectiveness (OEE)
OEE measures how connected companies are and allows them to ask critical questions like, “How productive is our performance?” and “Are we producing a high-quality product?” Achieving this requires eliminating waste and integrating tools like toolpath simulation software, quick-change tooling, and tool pre-setting systems. Although these tools can be costly, the return on investment is significant, as they enhance data analysis capabilities, enabling strategic decisions to streamline efficiencies, increase machine availability, and prioritize operations.

How Will This Affect Manufacturers?

The 4IR will integrate technology throughout the manufacturing process. Companies are already implementing this in various ways, including:

• Using cameras and wearables for building access, inventory checks, and internal communications.
• Conducting performance discussions using digital smart boards that display real-time data, integrated with AI to analyze issues and suggest solutions.
• Monitoring and managing machinery in real-time.
• Empowering production teams to learn from mistakes and auto-adjust settings for improved daily productivity.
• Running diagnostics in real-time.

The Bottom Line

By 2030, Africa will have a robust workforce. Coupled with a 4IR infrastructure and skills geared toward innovation, the 4IR presents immense potential for advancements across labor, manufacturing, and production industries. Job seekers will need to develop specific skills and capabilities to thrive in this evolving landscape. Manufacturers cannot afford to ignore these shifts; doing so may leave them behind in this exciting yet competitive era.

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