Industry 4.0 is hot, and it’s gaining traction daily because optimizing automated production systems doesn’t just save energy, reduce downtime, and improve yields, it saves a lot of money for those very same reasons. A company with a facility operating at 90% efficiency will outperform a company whose production is only at 80% of its potential, all other things being roughly equal. Better systems save money, energy, and resources at every level, with cascading benefits.
These cascading benefits are like a good version of the horseshoe nail story. In the original story, the loss of a nail cost a kingdom. In the new Industry 4.0 paradigm, the horse is smart and self-monitoring, and provided the rider a predictive maintenance alert about the loose horseshoe. Smart tools empower intelligent processes and precision is the grail of any toolmaker. There is no precision without feedback, and accurate, efficient, and functional sensing is a critical enabler.