Awareness about Industry 4.0 has grown since 2015 but it is not considered a game changer by a majority of industry players. Industry 4.0 is not among the top priorities for companies. The expected positive impacts from Industry 4.0 / Digitalization on cost reduction, new business models and energy efficiency are high. The untapped opportunities from implementation of Industry 4.0 / Digitalization are estimated to be €5 billion in inventories and €10 billion in cost savings in Europe alone.
Industry 4.0 / Digitalization can help leverage value in the interconnected value chain of forest products. It can provide the real-time interconnectivity and transparency which is required to leverage untapped benefits. These benefits include among others higher asset utilization, higher service levels, higher effectiveness, at lower costs, with lower risk and lower working capital.
The degree of Digitalization will continue to grow. As a result, changing and adapting business processes is inevitable. The pulp, paper, tissue and packaging industry is in its infancy when utilizing Industry 4.0 technologies. The possibilities and potential of these technologies are manifold, and can be expected to offer significant benefits, in particular for pioneers / first-movers.