The Internet of Things, Factory of Things and Industry 4.0 in Manufacturing: Current and Future Implementations

In the currently rapidly changing industrialized world, globalization, product customization and automation are playing an imposing role in the development of the manufacturing sector. Nowadays, the innovative concepts of The Internet of Things, Factory of Things and Industry 4.0 are aimed to revolutionize the way technology can help improve production around the world. While in some international corporations these concepts are being deeply studied and are starting to be implemented, also in middle-size and large manufacturers it is clear they could contribute with many advantages; however, skepticism and uncertainty are still present among managers and stakeholders. In this paper, the current and coming state-of-the-art technology and implementation of the Factory of Things paradigm are presented and examples of the current implementation in global manufacturing companies are analyzed. Additionally, this article will discuss the potential implementation of this Industry 4.0 in a large manufacturer, and how it can help increase the control and efficiency of production, material flows, internal logistics and production planning.