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.

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

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

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