Industry 4.0 : Are You Ready?

When industry 4.0 is emerging, it is crucial to understand all the key elements of Industry 4.0 and the ways they are impacting the industry we are in. From there, we are going to see tremendous positive effects to our business by smartly implementing them.

The twelve pillars of Industry 4.0 established on MIDA are:

1. Big Data Analytics
2. Automation
3. Artificial Intelligence
4. Digitisation
5. Augmented Reality
6. Cybersecurity
7. Additive Manufacturing
8. Internet of Things
9. Simulation
10. System Integration
11. Cloud Computing
12. Autonomous Robots

Despite the fact that many companies have already implemented some of the technologies supporting Industry 4.0, however they are being practised in isolation instead of interconnected autonomous system. To achieve greatest results and to stay competitive, these technologies have to be connected and communicated freely amongst each other as well as across various functions in the organisation.

The development process requires effort but it is not impossibly difficult with the help of government initiatives and solution providers in catering different needs in line with diverse business natures. Moreover, we are glad to be part of the movers in upholding Industry 4.0, in hope of stimulating growth  and development in the industries. Earlier this year, we have participated in a number of Industry 4.0 events which allowed us to speak with more people on Industry 4.0 and ways to implement it.

Some of the key events we joined:

1. MITI Malaysia Digital Economy Forum
2. MCA Belt and Road 2.0
3. MITI/MPC Showcase on Innovation for Productivity (SHIP) 2018

MITI Malaysia Digital Economy Forum

KUALA LUMPUR: The International Trade and Industry Ministry (Miti) is targeting to increase the number of companies coming onboard the Digital Free-Trade Zone (DFTZ) e-commerce platform to about 10,000 by year-end from 1,998 last November.

Its minister Datuk Seri Mustapa Mohamed said since the DTFZ pilot project was launched by Prime Minister Datuk Seri Najib Tun Razak last year, there had been growing interest among local and international e-Commerce players.

“We will work towards ensuring the sustainability of the small and medium enterprises (SMEs) that are already DFTZ-listed, and assist more SMEs to list on the platform to ensure that the SMEs are future-ready and equipped to venture into cross-border eCommerce,” he told a press conference after delivering his welcoming remarks at the Malaysia Digital Economy Forum here.

The Star Online. (2018, 9 Feb). Miti eyes 10,000 e-commerce companies for DFTZ [Press Release].

MCA Belt and Road 2.0 

KUALA LUMPUR: MCA’s newly launched Belt and Road 2.0 will serve as a centre to assist the formation of stronger bilateral ties between Malaysia and China in many different areas, says Datuk Seri Liow Tiong Lai.

MCA Belt and Road 2.0 is built on five strategies – business transformation and young startups, SME Go-Global, trade and investment promotion platforms, Belt and Road policy coordination platforms, and education and training.

MCA president Datuk Seri Liow Tiong Lai said MCA was the first political party from abroad to respond to the Belt and Road initiative.

Liow said bilateral trade between the two nations amounted to RM264.62bil in the first 11 months of last year, which accounts for 16.3% of Malaysia’s total trade.

“We need to seize these opportunities,” he said.

The Star Online. (2018, 10 Feb). MCA launches Belt and Road 2.0 [Press Release].

MITI/MPC Showcase on Innovation for Productivity (SHIP) 2018

KUALA LUMPUR: Malaysia is on track to achieve the target of 3.7 per cent labour productivity growth annually valued at RM92,300 per worker by 2020.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the country achieved labour productivity growth of 3.6 per cent in 2016, reaching 87.8 per cent, or productivity value of RM81,039, of the 2020 targeted level.

“With the nine Productivity Nexus initiatives led by industries and supported by government and academia (in placed), we believe the country’s productivity will be further improved.

“This year, the Nexus has planned over 42 projects, among them documentation of best practices, industry profiling and development of online productivity tool kits,” he told reporters after officiating the Showcase on Innovation for Productivity (SHIP) 2018, here today.

The Productivity Nexus is a centre of excellence relating to productivity and is the catalyst in implementing productivity initiatives.

Industries are encouraged to participate in the programme offered by the Nexus to further increase productivity.

SHIP 2018 showcases best practices from four strategic innovation partnership platforms, namely the Ministry of Higher Education’s Public-Private Research Network, SIRIM-Fraunhofer Partnership, AIM-Steinbeis Foundation Malaysia, and SME Corp Bhd–PlaTCOM Ventures Sdn Bhd.

During the 2015-2017 period, SHIP has spent about RM200 million, benefitting 1,600 small and medium enterprises.

SHIP is an initiative under the purview of the National Oversight Productivity Council, which is part of the governance structure of the National Productivity Council.

New Straits Time Online. (2018, March 22). Malaysia to reach RM92,300 productivity growth value per worker by 2020 [Press Release].

At times of a big move around, we hesitate to adopt new ideas and technology because we think we are doing fine with the old ones and we are already making profits using existing methods; why replace something we know so well with something we don’t?

It might be safe game waiting for the first movers in the industry but little did we know, as soon as it happened; we are officially lagging behind. The process of change is not difficult but the courage to take on the flight is.

Make your first move now: CLICK HERE

“Do not wait; the time will never be ‘just right.’ Start where you stand, and work with whatever tools you may have at your command, and better tools will be found as you go along.”

George Herbert