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In China, and world over, it will soon be all about adroitly adjusting on the fly

The concepts Industry 4.0 in Europe, Made in China 2025 and smart manufacturing in the U.S. “all share a common goal—to create cyber-physical systems to innovate in manufacturing,” IDC's Bob Parker said at Dassault Systèmes’ recent Manufacturing in the Age of Experience event. “And it’s really dependent on a set of new technologies like IoT (the Internet of Things) and artificial intelligence (AI).”

Taming the Most Detailed Product Data Imaginable

Some things are a given today. One is computing is cheap and powerful, and it is getting cheaper and more powerful. Another is the dropping price of industrial sensors. Combine this with easier ways of moving around data from those sensors and you get lots of data: Terabytes of data.

When is it best to make your own components?

Most manufacturers have relied on third-party vendors to make parts that are then incorporated into the final product. From automakers sourcing stereos and aircraft makers contracting for jet engines to a small bakery ordering plastic bags or a woodshop buying nails, producers of all types have supplemented their internal capabilities through a painstakingly developed supply chain of external vendors.