Predictive maintenance uses data analysis and machine learning to predict when equipment failure is likely to occur, allowing for maintenance to be performed before issues arise.

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

Industry 4.0 can improve operations by enabling real-time monitoring, predictive maintenance, process optimization, and enhanced decision-making.

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

IoT connects devices and equipment in factories to collect and exchange data, enabling real-time monitoring, remote control, and predictive maintenance.