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Podcast: Engineering Matters
Episode: #168 Industry 4.0: Finding the Hidden Factory
Description: In the 1970’s Dr Armand Feigenbaum coined the term ‘Hidden Factories’ to talk about the hidden part of organisations where as much 40% of production capability was lost through inefficiency. Finding these weak spots proved difficult until very recently. An exponential increase in data processing power has led to a fourth industrial revolution, or industry 4.0 where more information about processing and operations is available than ever before. This means that manufacturing companies are now able to take advantage of the Industrial Internet of Things to understand and identify elements of the hidden factory and simultaneously bring in new technologies, converting regula...