Things to Know About SIRI Assessment and How It Helps Industry 4.0

Several companies are implementing Industry 4.0 to gain a competitive advantage, but how can they ensure that these objectives are met without spending a lot of money? SIRI assessment is a way to do this. You can analyze how well your manufacturing company is operating using the SIRI, or Smart Industry Readiness Index.

We will explore the application of this assessment in more detail.

SIRI (Smart Industry Readiness Index)

Digitalization is a key component of Industry 4.0. The vision, mission, strategy, ideation, and roadmap for implementing this may not exist, but change is still needed. These challenges can be addressed through SIRI. SIRI provides frameworks and tools that assist manufacturers across all industries and sizes in becoming Industry 4.0 businesses.

Three layers make up the framework −

• Process, technology, and organization make up the top layer of Industry 4.0.

• For companies to be future-ready, they need to focus on these eight areas.

• In the final layer, companies can evaluate their facilities' maturity levels using 16 dimensions.

Technology

Through history, industrial revolutions have been fueled by advances in technology. As Industry 4.0 evolves, technologies like cloud computing, IoT, etc. will continue to play an increasingly important role.

Automation, connectivity, robotics, and intelligence are currently part of the hyperconnected landscape.

Automation − Industry 4.0 needs this 'muscle'. To succeed, companies must automate processes that are both efficient and flexible. Companies will be able to produce a wide range of products in smaller quantities as a result. A significant amount of capital does not require to be invested during these times. It is also not necessary to redesign them. Consequently, manufacturers are better positioned to compete. Their business opportunities are enhanced by it. As a result, customers' needs will be able to be accommodated more quickly.

Connectivity − It has never been easier to be connected than it is today, thanks to the Internet of Things. Companies benefit from this, but there are some downsides as well. Cybersecurity would be a major concern. Systems with hyper-connected operations are more vulnerable. Cyber-attacks would increase as a result. The increased access to data also enhances the cyberattacks severity. Mitigation of risk is essential.

Intelligence − Industry 4.0 is powered by this brain. Cloud computing, machine learning, and many other technologies have made our systems more intelligent than ever. As a result of big data generation, processing, and translation, actionable insights become available. Ideally, they are capable of making autonomous decisions and responding to business needs on both internal and other external levels.

Process

It can be divided into three categories: operations, the life cycle of the products, and the supply chain. It is essential to have these in order to channel technological investments in the right direction. Integrated processes bring together information sharing, processing, and integration into one unified system. Production, product management, and layers of enterprises all contribute to this.

Operations

Data analytics is used by companies to identify inefficient processes and reduce waste. Wireless communications also enable remote monitoring and decentralized asset control by connecting discrete processes.

Supply Chain

The digitization of supply chains allows end-to-end decisions to be made about inventory, costs, and operations. By digitizing workflows, all stakeholders benefit. Besides increasing effectiveness and efficiency, they also facilitate greater flexibility and efficiency.

The Life Cycle of Products

In each stage, information is generated, shared seamlessly, allowing the right decision-making and process optimization. Additionally, physical prototypes are no longer necessary. There will be no limit to the speed, scale, and cost of creating these in the future.

Organization

In Industry 4.0, this is the third pillar. A company's people are its primary component. It includes top management as well as operational teams. A company's institutional systems are the second component. Industry 4.0 can only be effective if both are considered. Inconsistent practices and rigid rules will demotivate a competent leadership team. Communication is also important. Employees benefit from flat hierarchies in many companies with open-door policies. Structure and Management and Talent Readiness are the two divisions.

Talent Readiness

Business objectives and HR plans should be aligned with development programs. Self-learning and personal development would be encouraged. Any company initiative will be maximized by an expert workforce and core leadership.

Structure and Management

In order to design and implement an industry 4.0 strategy effectively, an organization needs a robust management process and structure to facilitate flexibility and collaboration. The structures and management processes of organizations with a solid structure will enable them to be more flexible, collaborative, and able to design and implement industry 4.0 strategies effectively.

SIRI's Role in Industry 4.0 initiatives: how does it help?

The Matrix of Assessment

Globally, this is the main self-diagnostic tool of its kind, which can help companies of any size, scale, and industry. Through 6 progressive maturity bands, it helps organizations begin, upscale, and sustain digitalization and its transformation. By evaluating their maturity and setting benchmarks, companies can set themselves up for success.

The Matrix of Prioritization

The prioritization matrix assists companies in managing their SIRI dimensions of the highest priority. Their organization would benefit most from these initiatives. An industry-tested and approved system is presented in the framework of SIRI. Through these, companies can identify their weaknesses and make better operations and processes with KPIs. A holistic, steady, and efficient transformation of your company can be achieved by boosting industry initiatives.