Question

As a result of COVID-19 pandemic, company XYZ (Pty) Ltd is considering the introduction of the Fourth Industrial Revolution. They consider the industrial Internet of Things to be the way to go for the company. However, you are hired as a consultant to advise the CEO of XYZ wether 4.0 is the best option for the company. In your report after benchmarking, you need to also consider the challenges and benefits that can be derived by implementing 4.0.

Answer 1

The lockdown 4.0 gave the green signal to the working of the Industrial Sector. Many activities were resumed after the lockdown 4.0 as follows:

• E-commerce for both essential and non-essential items was resumed.
• Movement of Public transport (except metro), taxis and autos was allowed.
• The inter-state movement was okayed by the government only through the approval of both the states.

The above-stated list benefited the industrial sector because e-commerce will expand the demand for goods and thereby will bring the business to the Industrial Sector. The movement or transportation of these produced goods was facilitated with the opening of public transport.

However, many people faced the job loss due to the losses witnessed by their respective companies. Due to the following limitations continued during lockdown 4.0, the demand for the jobs declined. The following activities will be prohibited:

• Metro-Rail services
• School , colleges
• Cinema halls, swimming pools, theater, amusement parks, sports complexes, etc.
• Academic , cultural, and regional gatherings.

The shutting down of these activities forced many owners to remove their employees from the job. The counter result will be a reduction in the demand for industrial products. As a result, the Industries will witness the lesser demand and lesser profit.

So we can conclude by stating that lockdown 4.0 will have certain benefits and challenges to the working of the Industrial Sector.