In a nutshell, Industry 4.0 is deployment of significantly faster, more flexible, higher productivity & efficiency, and self-managing production processes where people , machines, equipment, logistics systems and work-in-process components communicate and cooperate with each other directly increasing competitiveness, resulting in high quality and low cost products. Industry 4.0 is digital transformation applied to manufacturing – bringing with it all the change, opportunities and challenges that are required today. Industry 4.0 connects the supply chain and the ERP system directly to the production line to form an integrated, automated and, potentially, autonomous manufacturing processes that make better use of capital, raw materials, and human resources. According to a Boston Consulting Group (BCG) bcg.perspectives blog post: "Industry 4.0 technologies represent a paradigm shift in industrial manufacturing that is comparable to the introduction of computer-a...