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.

Factories can improve product quality by implementing quality control measures, using advanced technology, providing training to employees, and listening to customer feedback.

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