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<!DOCTYPE html>
<html lang="en" dir="ltr">
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<meta charset="utf-8">
<title>Industry 4.0</title>
<link rel="stylesheet" href="styles.css">
<link rel="icon" href="favicon.ico">
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<table cellspacing="40">
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<td><img class="" height="200" src="" alt=""></td>
<td><h1 style="background-color: #a9eec2" class="Title">Industry 4.0: What is it and how can small business owners harness its untapped
potential</h1>
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<td></td>
<td>
Authors:<br>
Brenden Lu <br>
Jorge Maravilla <br>
<b>Published April 23, 2019</b>
<em><h3>Industry 4.0 is impacting the global economy in numerous ways including production, manufacturing
speeds, interaction between employees and autonomous machines, and how data is tracked.</h3></em>
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</table>
<hr>
<div class="articleContent">
<img class="imageCenter" height="300" src="https://chezhey.github.io/Industry-4.0-Article/image1.JPG" alt="city" border="5">
<h3>Introduction</h3>
<p>INDUSTRY 4.0 is the next industrial revolution set to impact global economies in an immense way.
The first industrial revolution took place during the 19th century and saw the introduction of steam powered machinery.
After that came assembly lines, a process that expedited the entire manufacturing industry. The third stage involves
autonomous machinery that can perform tasks and jobs in a fraction of the time that it takes an average human to perform them.
Industry 4.0 takes the third stage to a whole new level as we anticipate these already autonomous machines to take the next step and
gain the intelligence necessary to make actual decisions. This stage will impact markets and economies on a global scale because of the minimization of production costs, unprecedented efficiency it'll entail, and integration and communication between several pieces of equipment and businesses that will become seamless in nature.</p>
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<hr>
<h3>Impact of Industry 4.0 on:</h3>
<b><p>Economy</p></b>
<p>The impact industry 4.0 will have on the economy as a whole will be immense and is already causing ripples throughout different industries. Cost of production is being cut to staggering lows as manufacturing speeds begin to dramatically increase. Manufacturing is also set to become more responsive to consumers’ rising desire in both convenience and personalization. As both physical and digital technologies continue grow in complexity and begin to communicate more efficiently, the manner in which goods are produced, transported, and ultimately received will also change dramatically.</p>
<p>Companies will be able to cut costs by being able to notice trends in their client’s behaviors as well being able to detect a product’s failure before it even happens. The ability to analyze data nearly at the moment of its occurrence is a major advantage for manufacturers and business owners alike as they will be able to respond to their consumers’ desires at a much more rapid pace. Manufacturers and business have the opportunity to obtain more data at higher speeds than ever before. The benefits seem to vastly outweigh the negative aspects of this fourth industrial revolution as data and information will become a common asset that many, if not nearly every, business owners will be able to easily possess.</p>
<b><p>Small Business Owners</p></b>
<p>The ability of small business owner to leave a positive image in their customers’ minds is a crucial part of what they hope to accomplish in order to operate a successful business. Key areas where a business owner places most emphasis on when operating their business include: work environment, technology, customer experience, and attention to detail. These particular areas can be improved drastically with Industry 4.0 in several different ways.</p>
<p>The work environment can become more productive as employees work alongside technology that will help expedite and organize processes and tasks. Technology will obviously improve exponentially as it becomes increasingly more intelligent and adept at additive manufacturing, data collection, and product delivery. The customer experience will inevitably improve as product and service personalization and delivery begin to mold themselves according to customer preference. The customer experience will also be improved by the ability of a business to better assist them when dealing with their respective product or service. Attention to detail will see it’s improvement when one accounts for aspects of Industry 4.0 such as data collection, data analyzation, and reaction to data, all of which will grow in terms of both response time and quality. Businesses will be able to review data in real-time as well as be able to simulate scenarios and observe how certain actions will either help or hinder their business.</p>
<img class="imageCenter" height="300" src="https://chezhey.github.io/Industry-4.0-Article/images/image3.JPG" alt="smallbusiness" border="5">
<b><p>Consumers</p></b>
<p>Consumers’ preferences evolve as time passes and new technological and societal changes occur. Industry 4.0 proves no different as consumers’ desires for convenience and personalization in their products is met by technological and manufacturing advances that facilitate the production of goods and services that accommodate a consumer market riddled with those who are used to instant gratification when it comes to buying goods or services. Consumer preferences and opinions over a business’s actions will be accounted for almost immediately as owners of these businesses are able to to view how consumers felt when interacting with their products and services. This will be made possible by technology that is intelligent, fast, and most importantly connected.</p>
<p>Because of the expansive connectivity that businesses will possess under Industry 4.0, consumers’ actions will be collected and thoroughly analyzed in order to see if a trend or pattern exists in the consumers’ behavior. If a trend does exist, business owners will work off of it and cater towards a consumer’s tendencies according to the aforementioned data. This entire process will lead to an overall growth in customer satisfaction as well as a sense of personal connection between the consumer and the business, which will ultimately lead the consumer to favor the business over another that did not cater towards the consumers needs or wants.</p>
<img class="imageCenter" height="300" src="https://chezhey.github.io/Industry-4.0-Article/images/image2.JPG" alt="smallbusiness" border="5">
<hr>
<h3>Major Aspects of Industry 4.0</h3>
<table class="terms" cellspacing="10">
<thead>
<tr>
<th>Terms</th>
<th>Definitions</th>
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<td>Big Data:</td>
<td>Large data sets collected by agencies in order to analyze potential consumers’ behavioral patterns/trends.</td>
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<td>Industrial Internet of Things:</td>
<td>Collection of valuable information that will be analyzed and can ultimately provide great insights when it comes to business decisions.</td>
</tr>
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<td>Autonomous Machinery:</td>
<td>Technology that requires little to no human guidance and can perform advanced tasks with minimal failure.</td>
</tr>
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<td>Robot Assistance:</td>
<td>Robots collaborate with human employees when working on tasks such as manufactruing or packing.</td>
</tr>
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<td>Simulation of manufacturing/product scenarios:</td>
<td>Business owner’s ability to implement a certain situation and see how his employees and technology will react to the change without actually having to physically implement the change</td>
</tr>
</tbody>
</table>
<hr>
<h2>How Industry 4.0 Can Be Applied to a Small Business in the City of Atlanta</h2>
<h3>Davie’s Grab N’ Grub Business Plan</h3>
<p>Here are the costs to start up a limited service restaurant in Atlanta, GA. This is a hypothetical plan for what we believe it takes to create a functioning restaurant that has integrated industry 4.0.</p>
<b><p>Costs: (The average cost in opening a restaurant is $275,000)</p></b>
<ul>
<li>Small Business Loan:$100,000 (6.25% interest rate/ 60 months)</li>
<li>Real Estate & : $24.00/SF/Year = roughly $36,000/Year, 1500 SF</li>
<li>Employees: $7.25/hr or $9/hr</li>
<li>Managers: $12.00/hr</li>
<li>Chefs: $10/hr</li>
<li>Utilities: $146/month</li>
<li>POS Hardware: $2000-$4000</li>
<li>POS Web Based Systems: $50-$200/month</li>
<li>Kitchen Equipment: $20,000</li>
<ul>
<li>Refrigerator: $1500</li>
<li>Freezers: $6500</li>
<li>Range: $5000</li>
<li>Food Preparation Counters: $1000</li>
<li>Dishwasher: $5000</li>
<li>Kitchen utensils: $1000</li>
</ul>
<li>License & Permits: $25-$1000</li>
<li>Building Health Permit: $50-$1000</li>
<li>Certificate of Occupancy: $100</li>
<li>Business License: $50</li>
</ul>
<b><p>Ways “Davie’s Grab N’ Grub” can integrate Industry 4.0:</p></b>
<ul>
<li>Foodini x 4 ($16,000): 3D printer that makes food. Help minimize amount of cooks needed and will provide the opportunity to serve more customers faster. Can take on smaller orders such as sandwiches, desert items, and pizza.</li>
<li>Drone x 5 ($3,245): Autonomous machines that’ll deliver food orders and cut out a majority of middle-men (delivery person).</li>
<li>Big Data: A plethora of information gathered through several operations within the restaurant that will allow for Davie’s Grab N’ Grub to observe and capitalize off of customer’s tendencies. This will improve marketing, production, and reduce the production costs by minimizing the production of unnecessary or unpopular products.</li>
<li>Robot Assistance: Robots can assist the chefs with cooking meals as well as taking customer orders.</li>
<li>Predictive Maintenance: This could be made possible through wireless sensors found on several pieces of technology found throughout the restaurant. This can help maintain equipment running efficiently and for more time as failures will be detected and reported sooner than if these sensors were not present and communicating information to the restaurant’s database.</li>
</ul>
<hr>
<img class="imageCenter" height="300" src="https://chezhey.github.io/Industry-4.0-Article/images/image4.JPG" alt="smallbusiness" border="5">
<b>About the Authors:</b> Brenden Lu and Jorge Maravilla are both undergraduates at Georgia State University, a research-based university situated in the heart of downtown Atlanta. Lu currently majors in Film while Maravilla is majoring in Business Economics.
<hr>
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