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

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

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

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

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