Lean manufacturing is a systematic approach aimed at minimizing waste while maximizing productivity and efficiency.

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

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