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

Robotics improves manufacturing by increasing efficiency, precision, and safety, while also reducing labor costs and repetitive tasks.

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.

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