Industrial Revolution 4.0: Opportunities and Challenges

The mechanical manufacturing industry in particular and the industry in Vietnam in general are making big changes, when the Industrial Revolution 4.0 is no longer a novelty but gradually becomes an indispensable trend. in all areas of production. An era when operating systems no longer depend on humans, equipment and machines need to be improved to become intelligent and optimize to the best of their ability. In fact, Vietnamese businesses are still struggling with improvement and finding the right path to catch up with the increasing demands of the world market.

The US-China trade conflict officially began when the US announced tariffs on $ 34 billion of Chinese goods. Taxable items are mechanical machines, electrical and electronic machinery and equipment. Large corporations have implicitly started the program to find a new market to land and build new factories, and outside of Vietnam, countries like India, Thailand, Malaysia and Indonesia are all candidates. heavyweight member for the soon-to-be-formed role of the "new great factory".

The question is, where are we in that comparative balance? For us, is this an opportunity or a challenge in this moment? The manufacturing industry in Vietnam and each enterprise in the industry are facing a strategic turning point to be able to develop sustainably at this time.

Sustainable development strategy – The most necessary factor for every business to confidently "Stand on the shoulders of giants"

As a leader throughout the seminar program, Dr. Ngo Cong Truong - Director of John & Partners Education and Consulting Joint Stock Company, brought an overview and multi-dimensional view of opportunities and challenges. , along with the key success factors posed for businesses in the context of the Industrial Revolution 4.0.

Digging deeper into details, Dr. Tran Ngoc Minh Tri - Director of Continuous Improvement for Decathlon South Asia region pointed out that: The main opportunity that businesses have when applying the achievements of the industrial revolution Industry 4.0 is to multiply the speed of administration, develop a data culture for businesses, and support cost reduction, shortening training time for middle managers.