ACCENTURE
by offering consumer experiences,
more than a moment; what is 4.0 today
leveraging industrial consumerism
is quickly going to progress to 5.0, to
patterns to disintermediate and reach
then 6.0, and counting. The framework
the end consumers, while innovating
for digital transformations hence needs
new revenue streams and models.
to be constantly assessed, analyzed
5. Build the workforce – in a commensurate capacity by new skilling, re-skilling, and upskilling the next generation talent. 6. Manage the wise pivot – balance the investment, workforce, and funds
90
“ THE ESSENCE OF INDUSTRY 4.0 IS BASED PRIMARILY ON HARNESSING OPERATIONAL EFFICIENCIES IN MANUFACTURING OPERATIONS”
and refreshed to take advantage of the rapid advancements. Secondly, it is important to acknowledge that the essence of Industry 4.0 is based primarily on harnessing operational efficiencies in manufacturing operations by leveraging technology to increase the Overall Equipment Effectiveness (OEE) which is typically defined as the product of Availability,
— Tilak Mitra, CTO Industrial, Managing Director, Accenture
Productivity and Quality metrics.
allocation between transforming the
increasingly favoring innovation around
core and rotating to the new.
the generation of new revenue streams
The term X.0, in Industry X.0, is neither
However, digital transformation is truly much more than just the operational efficiency gains. Business value is
that is not only driven by innovative
coined in error, nor it is a misrepresen-
As-A-Service business models but
tation of 4.0 (as in Industry 4.0): it has
also through hyper personalization of
a purpose and rationale. To begin with,
consumerism that is driving micro
the term X.0 is in recognition and
segmentation and hence an exponen-
acknowledgement of the fact that digital
tial expansion of the addressable
technologies are advancing at such
consumer base. Industry X.0 addresses
a rapid pace that the technology staging
not only the cost economics driven by
posts can no longer be pinned down for
traditional operational efficiencies of
DECEMBER 2018