Home > Knowledge > Topics and Skills > Innovation and Technology > Industry 4.0 for Procurement

Industry 4.0 for Procurement


There have been three significant industrial revolutions; could we be in the midst of a fourth industrial revolution that enables autonomous communications?

Industry 4.0 is defined as: “Characterized by cyber-physical systems with autonomous machine-to-machine communication." source: Torn et al (2018) Industry 4.0.  

How we utilise new technologies such as machine-to-machine communication, smart contracts, blockchain and additive layer manufacturing in procurement can have a real impact to leverage market position, meet customer needs and drive out waste from the supply chain. 

Industry 4.0 timeline

 

What could I4.0 mean for the procurement profession? -How do we position ourselves to leverage technology to bring about value for our organisation?

CIPS aims to bring our members information around value add autonomous systems that supports the profession, and tools and guidance to further assist workplace development in this area.

Industry 4.0 for Procurement

With the rise in technology and the fast pace growth in data analytics, system autonomy and machine to machine communication, it becomes increasingly plausible that new technologies will shape how we procure.

Industry 4.0 overview report:


The Valley of Death

The UK has consistently excelled in delivering innovative university-based research, but has suffered in converting concepts into credible manufacturing solutions.

The MTC is designed to support a range of manufacturing processes that are particularly important to the high value manufacturing sector-by representing collaboration between four leading universities and industrial members from a cross sector of industry, helping turn concept into reality.

The MTC (Manufacturing Technology Centre) is based in Coventry and has a clear vision to inspire Great British manufacturing on a global stage.

Valley of Death

MTC is focussed on supporting the bridging of the “Valley of Death”

MTC is a unique technology incubator for start-ups and SMEs needing to build their first one to 100 market samples in a de-risked environment.  MTC is perfectly positioned to support viable innovative product being turned into a tangible outputs that can support UK industry with new technology.

MTC assists companies with prototype design optimisation within a flexible production space, along with support and access to new technology and machine capabilities, that will help further UK manufacturing processes.

To find out more about the facilities available or to organise a site visit, please review the following literature:

MTC Corporate Brochure
MTC Corporate Presentation
MTC SME reach programme