April 2018
standards, financial concerns, and shifts in the
skills, training and talent needed to do these jobs.”
The other challenge manufacturers already face
is the new threat they never had to think about
before. New technology means new weaknesses.
Cybercrime is at an all time high — the FBI
estimates more than $400 billion in intellectual
property leaves the U.S. each year due to breaches.
Just as manufacturers never had to think about
autonomous vehicle technology or the Internet of
Things in the past, they also never had to consider
protecting their business from criminals capable of
accessing their most protected data with a few clicks
of a mouse.
Locating Available Resources & How
to Win at Industry 4.0
You don’t know what you don’t know. Whether
you consult an expert or research on your own time,
the sweat equity you and your team put into the
business is too important to risk losing everything.
“Small manufacturers need to be asking ‘what’s
the relevance to integrating informational technology
(IT) with operational technology (OT)?’ and the
honest answer they’ll find is if you think you don’t
need IT, the big fish are going to eat you,” said Behen.
“Everything surrounding Industry 4.0 is making it
possible to be faster and more efficient. If you are
choosing not to innovate, you are going to get run
over by the competitors, large and small, that do.”
For most experts on Industry 4.0, the time and
investment will add up on the front end, but the
return is there and the risk of not changing with the
times is often too great. According to UHY, the
average lifespan of an S&P 500 company has
decreased by more than 50 years in the last century
from 67 years to just 14 years today. Companies can
no longer afford to wait on choosing their long-term
path and, if enough time passes, your options could
disappear and your company’s future could be
decided for you.
“I’m a proponent of investing in tech upfront to
capitalize on those returns and efficiencies as soon as
possible,” offered Behen. “Today’s technology
‘decade’ is really 18 months, so the longer you wait,
the further you fall behind and you can very quickly
find yourself incapable of making up that ground.”
Your company can utilize these easy tips to make
your transition into Industry 4.0 painless in the
short-term and profitable over time:
• Determine your appetite to put in the time and
effort. Changing who and what you are isn’t easy
and won’t happen overnight. Embracing a new
direction is a months-long, years-long and
decades-long process.
MiMfg Magazine
Ten Skills for the Future Workforce
1.
2.
3.
4.
5.
6.
7.
8.
9.
Sense-Making: ability to determine the deeper
meaning or significance of what is being expressed
Social Intelligence: ability to connect with others
in a deep and direct way, to sense and stimulate
reactions and desired interactions
Novel & Adaptive Thinking: proficiency at thinking
and coming up with solutions and responses
beyond that which is rote or rule-based
Cross Cultural Competency: ability to operate
in different cultural settings
Computational Thinking: ability to translate vast
amounts of data into abstract concepts and to
understand data-based reasoning
New Media Literacy: ability to critically assess and
develop content that uses new media forms and to
leverage these media for persuasive communication
Transdisciplinarity: literacy in and ability to
understand concepts across multiple disciplines
Design Mindset: ability to represent and develop
tasks and work processes for desired outcomes
Cognitive Load Management: ability to discriminate
and filter information for importance, and to
understand how to maximize cognitive functioning
using a variety of tools and techniques
10.
Virtual Collaboration: ability to work productively,
drive engagement and demonstrate presence
as a member of a virtual team.
Source: UHY LLP, an MMA Associate
Member company since 2008.
• New technologies bring with them new
standards and requirements. Consult financial
and business risk experts to ensure you are
asking the right questions.
• Don’t try to do too much too soon. Develop
your new direction the same way you’d eat an
elephant — one bite at a time.
• Recognize the need to hire new types of skilled
workers. (Check out the sidebar above for skills
worth investing in)
• Make your company culture a top priority. A
great culture will attract great talent every time.
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