Operational Excellence (OE) is executing in an efficient and effective manner across the value chain with a focus on delivering value to customers. The Operational Excellence program provides a framework to understand why and how performance needs to improve. The road to achieving operational excellence is by identifying value chain business processes, identifying strengths/weaknesses of them (based on key measurements and benchmarks) and redesigning these processes to align with corporate / strategic goals and ensure that organizations, resources and assets are utilized in the best possible manner.
The term industry 4.0 refers to a further developmental stage in the organization and management of the entire value chain process involved in the manufacturing industry. It is also referred to as "fourth industrial revolution". Comprehensive, integrated communications technology are increasingly blurring the boundaries between the real and virtual world in what are known as "Cyber-physical production systems" (CPPSs). Blog by Ketan Sharad Deshpande from Anoka county Minnesota MN