🚀 Shaping the Future - Issue 01

Welcome to the much-anticipated second issue of 'Shaping the Future'. We're happy to start this edition with some interesting updates about our new boards.

🚨Shaping The Board

The mission of the Industry 4.0 Club is to empower manufacturers to lead their own digital transformations. By bringing together manufacturers, industry promoters, and solution providers in a collaborative environment, the club aims to provide its members with the expertise, tools, methods, and resources they need to successfully integrate Industry 4.0 technologies into their operations. The club's ultimate goal is to inspire, guide, and accelerate the adoption of Industry 4.0, driving innovation, knowledge sharing, and large-scale success for all manufacturers regardless of their size and level of digital maturity.

We are thrilled to announce the new board officers of the Industry 4.0 Club! These dedicated individuals have joined forces to lead our organization and drive our mission of empowering manufacturers in the digital age. Please join us in welcoming them:

👉 Mike Ungar, Chairman
👉 Carol Mitchell-Lin, Secretary
👉 Allen Xu, Treasurer
👉 Grace Donovan, Assistant Treasurer

Each officer brings a wealth of expertise, experience, and a passion for advancing the manufacturing industry. They will play a pivotal role in steering the Industry 4.0 Club towards success and ensuring we deliver the utmost value to our members.

But that's not all! Stay tuned for further board announcements in the near future. We are assembling a diverse and talented team of leaders who will contribute their unique perspectives to the growth and development of the Industry 4.0 Club.

📈 Key Industry Trends to Keep an Eye On

According to a new report by SNS Telecom & IT, global spending on private LTE and 5G network infrastructure for vertical industries is predicted to grow at a CAGR of approximately 18% between 2023 and 2026, reaching over $6.4 billion by the end of 2026. The report identifies that around 40% of these investments, equivalent to $2.8 billion, will be directed towards standalone private 5G networks for Industry 4.0.

The report suggests enterprises in manufacturing, mining, oil and gas, ports and other vertical industries have credited private cellular network installations with productivity and efficiency gains 30-to-70 percent, cost savings of more than 20 percent, and 80 percent higher worker safety and accident reductions. 

📚 What we’ve read this week

To stay updated on the latest trends and news in Industry 4.0, we have compiled a list of five insightful articles that provide valuable perspectives on the ongoing revolution in manufacturing:

1. The “electrification of everything” and what that means for manufacturers

   Schneider Electric foresees a future of "the electrification of everything," transforming both industry and personal life. Electricity as a more efficient, resilient, and cleaner power source is gathering momentum. Technological advances ensure digitization and security at the local level, as well as a more intelligent power grid to facilitate a higher level of electrification. However, investment in new technologies and regulatory approvals will be challenges. Further, the transition to an electric future aligns with the digital transformation of industries, making them more efficient and data-driven. This is a critical moment for our electrical infrastructure, with potential for extensive progress over the next 20 years. The transition is demand-driven, with waste reduction being the most effective efficiency driver. The need for workforce upskilling and recruiting a new generation of professionals is apparent to support these technological shifts.

2. The Future of Sustainable Manufacturing

   Sustainable manufacturing, which impacts all aspects of an organization, relies on effective use of data, an inclusive company culture, and ecosystems and partnerships. Formerly focused on organization and structure, data now requires activation and scaling for substantial impact. Employee involvement is crucial to the success of sustainability programs, involving significant mindset shifts. Modern views on sustainability see these programs as value drivers and sources of employee pride. The future of sustainable manufacturing lies in collaboration for process optimization and expertise development.

3. Managing risk in an age of connected production

   The fourth industrial revolution brings with it a new operational risk for connected, smart manufacturers and digital supply networks: cyber. The interconnected nature of Industry 4.0–driven operations and the pace of digital

   transformation mean that cyberattacks can have far more extensive effects

   than ever before, and manufacturers and their supply networks may not be

   prepared for the risks. For cyber risk to be adequately addressed in the age

   of Industry 4.0, cybersecurity strategies should be secure, vigilant, and resilient, as well as fully integrated into organizational and information technology

   strategy from the start.

4. Embracing Industry 4.0 and Beyond

   The future of electronics manufacturing is on the brink of a transformative shift, powered by Industry 4.0 and emerging trends like smart factories, 3D printing, and sustainability. As manufacturers embrace digital technologies like AI, IoT, and big data analytics, they stand to gain improved efficiency, cost-savings, enhanced quality, and real-time supply chain visibility. However, capitalizing on these opportunities would require manufacturers to adapt their business models, invest in new technologies, and acquire new skills and capabilities.

5. American manufacturing just slumped to its lowest level in 3 years

   Despite recent optimistic economic predictions, weakness is being observed in the U.S. manufacturing sector. The ISM Manufacturing Purchasing Managers’ Index fell to 46 last month, indicating contraction in the sector for the eighth consecutive month. Furthermore, only one of six primary manufacturing industries, transportation equipment, demonstrated growth in June. Economists attribute the weakness to a lack of new demand and foresee further job cuts and disinflation in the manufacturing sector. However, some see a silver lining, arguing that the stall in economic activity may alleviate some inflationary pressures, thus aligning with the Federal Reserve's attempts to slow the economy and subdue inflation.

 🎤 Upcoming Events

• Thursday July 13th 2023

  Time: 1pm EST

  Host: Grace Donovan and Carol Mitchell-Lin

  Guest: Dr. Leila Lunguleac-Bardasuc, Creator of The Strategy of Kindness, Professor Universidad Europea.

  Location: LinkedIn Live

👋 Get Involved

Join the Industry 4.0 Club and be part of our vibrant community, dedicated to shaping the future of manufacturing. By actively participating, you can make a meaningful impact in advancing Industry 4.0 and contribute to reshaping the manufacturing landscape.

We’re always looking for new contributors to share their expertise, experience and spread the word. You can contact us directly at info@industry40club.com with subject like “Getting Involved” and follow us on all social media (LinkedIn & Twitter) or donate to help fund the club’s activities.

 💬 About Shaping the Future

Shaping the Future is Industry 4.0 Club’s official newsletter. We’ll be experiencing different formats over the coming weeks until we find the one that resonates the most with our members. You can help us improve by sharing feedback and suggestions. The newsletter will land in your inbox every Sunday morning; please subscribe to not miss anything and forward the email to someone you think would benefit from this.

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