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May 17, 2021 Article 4 min read

Industry 4.0 was once dismissed as a buzzword by manufacturers, but the ROI on today’s technology is making the shift a reality for many. Dennis Bagley and Doug Hockenbrocht share their top four success factors via IndustryWeek.

Businessman walking through a modern factory while holding a handheld tablet device.While Industry 4.0 has been a buzzword for some time, the technology has become more affordable and effective enough in the last two to three years to make it a reality for more companies. There’s an increasingly clear ROI from technology spending, clearing a hurdle that in the past has held back many manufacturers from committing to a digital transformation.

Choosing the right tech tools and being able to afford them are not the defining problems anymore. Two similar manufacturing companies can adopt exactly the same technology and have very divergent results. The difference will lie in how ready the companies are to absorb the technology and their effectiveness in getting the most out of it.