Benefits include reduced costs, improved quality, shorter lead times, increased flexibility, and better customer satisfaction.

Key components include sourcing, production, inventory management, distribution, and customer service.

Factories can reduce energy consumption through measures such as upgrading equipment, optimizing processes, implementing energy-efficient technologies, and using renewable energy sources.

Industry 4.0 refers to the integration of digital technologies such as IoT, AI, and data analytics into manufacturing processes to create smart factories.

TQM is a management approach focused on continuous improvement, customer satisfaction, and employee involvement in quality control processes.