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THE SMART INDUSTRYREADINESS INDEXCatalysing the transformation of manufacturing 1The Smart Industry Readiness IndexAt a GlanceForewordExecutive Summary Introduction Industry 4.0 is transforming manufacturingManufacturing:A Key Pillar of Singapores Economy A national imperative for growth and transformation The Smart Industry Readiness Framework The 3 building blocks,8 pillars and 16 dimensionsThe LEAD Framework A four-step process towards transformation The Way Forward Businesses must start taking decisive action today Assessment Matrix:The 16 Dimensions AcknowledgementsReferencesGlossarySingapore Economic Development Board(EDB),a government agency under the Ministry of Trade and Industry,is responsible for strategies that enhance Singapores position as a global centre for business,innovation,and talent.We undertake investment promotion and industry development,and work with international businesses,both foreign and local,by providing information,connection to partners and access to government incentives for their investments.Our mission is to create sustainable economic growth,with vibrant business and good job opportunities for Singapore.For more information,please visit www.edb.gov.sg.Copyright 2020 Singapore Economic Development Board.All rights reserved.1The Smart Industry Readiness Index2Catalysing the transformation of manufacturingBig data,robotics,and additive manufacturing are some of the technologies that are driving the convergence of digital and physical in every industrial sector,from production to logistics,from aerospace to utilities.This convergence,commonly referred to as Industry 4.0,holds immense opportunities for Singapore.It will redefine the nature of manufacturing.Instead of standalone factories,Industry 4.0 will create dense and interconnected networks of facilities,suppliers,partners,and customers.It will create new jobs of tomorrow,where man and machine work together to manage smart facilities and global supply chains.While companies recognise the opportunities,many do not know where and how to start.The pace of transformation is also uneven across industries.The Smart Industry Readiness Index seeks to provide a common framework for all companies to participate in,and benefit from,this transformation.Developed by EDB in partnership with TV SD and validated by an advisory panel of experts,the Smart Industry Readiness Index will help companies determine where to start and how to scale and sustain their Industry 4.0 efforts.More importantly,we hope that the Smart Industry Readiness Index will be a catalyst for companies,industries,workers,and the Government to come together to prepare for and create Singapores future in this new era of Advanced Manufacturing.ForewordDr Beh Swan GinChairmanSingapore Economic Development Board2Catalysing the transformation of manufacturing3The Smart Industry Readiness IndexManufacturing is on the brink of a new ageManufacturing is on the brink of a new age arising from the convergence of the physical and digital worlds.This new arising from the convergence of the physical and digital worlds.This new paradigm,commonly referred to as Industry 4.0,has the power to transform how products are created,how supply paradigm,commonly referred to as Industry 4.0,has the power to transform how products are created,how supply chains are managed,and how value chains are defined.For companies around the world,Industry 4.0 presents an chains are managed,and how value chains are defined.For companies around the world,Industry 4.0 presents an opportunity to gain new competitive advantages through greater productivity,agility,and speed.For Singapore in opportunity to gain new competitive advantages through greater productivity,agility,and speed.For Singapore in particular,Industry 4.0 creates a window of opportunity to cement its role as a global manufacturing hub and to particular,Industry 4.0 creates a window of opportunity to cement its role as a global manufacturing hub and to transform its manufacturing base.transform its manufacturing base.Industry 4.0 is now gathering momentum globally.According to the 2016 Industry 4.0 global survey conducted by PwC,nearly three-quarters of respondents foresaw a high level of digitalisation in their companies over the next five years.However,in McKinseys 2017 digital manufacturing global expert survey,companies also pointed out that the lack of a clear vision,strategy,and a systematic roadmap were the biggest challenges hindering Industry 4.0 adoption.The Smart Industry Readiness Index(SIRI)is a deliberate attempt to address these challenges.Created in partnership with global testing,inspection,and certification company TV SD and validated by an advisory panel of industry and academic experts,SIRI comprises a suite of frameworks and tools to help manufacturers regardless of size and industry start,scale,and sustain their manufacturing transformation journeys.This white paper introduces three frameworks and tools:the SIRI Framework,the LEAD Framework,and the Assessment Matrix tool.The SIRI Framework The SIRI Framework consists of three layers.The topmost layer is made up of the three fundamental building blocks of Industry 4.0:Process,Technology,and Organisation.Underpinning the building blocks are eight pillars,which represent critical aspects that companies must focus on to become future-ready organisations.The third and final layer comprises 16 dimensions that companies should reference when evaluating the current maturity levels of their facilities.The Assessment Matrix Referencing the 16 dimensions in the SIRI Framework,the Assessment Matrix is the worlds first Industry 4.0 self-diagnostic tool aimed at helping companies worldwide evaluate the current state of their factories and plants.It is designed to strike a balance between technical rigour and usability.The Smart Industry Readiness IndexFigure 1:The Smart Industry Readiness Index(SIRI)Framework3The Smart Industry Readiness IndexExecutive SummarySmart Industry Readiness IndexProcessTechnologyOrganisationOperationsVertical IntegrationHorizontalIntegrationLeadershipCompetencyStrategy&GovernanceInter-and Intra-CompanyCollaborationIntegratedProduct LifecycleWorkforce Learning&DevelopmentSupply ChainAutomationConnectivityIntelligenceTalentReadinessStructure&ManagementProductLifecycleShop FloorEnterpriseFacility12347101315141658116912The Smart Industry Readiness Index4Catalysing the transformation of manufacturing Learn the key concepts of Industry 4.0 and build a common language for alignment:SIRI enables this by offering frameworks that help increase the level of understanding of key Industry 4.0 concepts and establishing a common language among individuals,business units,and partners.Evaluate the current Industry 4.0 maturity levels of existing facilities:With a common understanding of Industry 4.0,companies can use the Assessment Matrix to assess the current state of their facilities.Through each dimension,companies can examine their current processes,systems,and structures and place themselves in one of six possible bands.It should be noted that while all dimensions should be taken into account,the relative importance of each one will vary depending on the companys needs and the industry it is operating in.Architect a comprehensive transformation strategy and implementation roadmap:The SIRI framework acts as a checklist to ensure that all the building blocks,pillars,and dimensions are formally considered.Additionally,the Assessment Matrix doubles as a step-by-step improvement guide,with the six bands within each dimension delineating the intermediate steps needed to progress to higher bands.This helps companies to identify high-impact initiatives and structure robust implementation roadmaps with clearly defined phases,targets,and timelines.Deliver impact and sustain transformation initiatives:Once a company has developed its transformation roadmap,SIRIs frameworks and tools also serve as a live blueprint that the company can use to measure and refine its Industry 4.0 initiatives over a multi-year period.1234Companies who seek to embrace Industry 4.0 often have different starting points.Regardless of where they start from or the industry they are in,all companies stand to benefit from Industry 4.0.SIRI offers a suite of practical and usable frameworks and tools for companies to determine where to start,how to scale,and what they could do to sustain growth.The Way Forward4Evaluate the current Industry 4.0 maturity levels of existing facilitiesFigure 2:The LEAD FrameworkCatalysing the transformation of manufacturingThe LEAD Framework Transforming and upgrading a manufacturing facility is not a one-off exercise.Rather,it is a continuous and iterative process.This is encapsulated in the LEAD framework a circular,continuous four-step process that all manufacturers can adopt in their approach towards Industry 4.0 transformation.5The Smart Industry Readiness IndexThe fourth industrial revolution is upon us.Although the first three industrial revolutions of mechanisation,mass production,and computerisation have come to define the world we live in today,the fourth industrial revolution will usher in a new age of innovation and transformation.This is characterised by the advent of cyber-physical systems,arising from the convergence of the digital and physical worlds.This new age,commonly known as Industry 4.0,represents a paradigm shift for manufacturing on multiple fronts.Once solely focused on the execution of pre-programmed logic,machines and devices are now part of intelligent,autonomous networks capable of communicating and interacting with one another.Processes are no longer static;instead,they are adaptive,self-corrective,and capable of responding to demands in real time.Rigid,centralised factory control systems also give way to decentralised intelligence and decision-making,reshaping the basis of competition from scale to flexible production.With product life cycles and supply chains digitalised across the value chain,companies can move beyond the mere provision of products and equipment to offer new,disruptive services and business models.Production,too,can transcend the factory environment,as manufacturing systems are vertically integrated with enterprise processes and horizontally networked across the value chain.This integration allows companies to respond to the needs of customers with greater efficiency,flexibility,and speed.Collectively,these shifts will have a profound impact on companies and economies around the world.In the future,Industry 4.0 will create a world where processes are increasingly digitalised and integrated;where devices,machines,and systems can autonomously optimise processes and manage operations;and where humans and machines work together to create smart facilities that are efficient,flexible,and adaptive.IntroductionIndustry 4.0 is transforming manufacturing Industry 3.0Raw MaterialsSuppliersInbound LogisticsManufacturingSales and MarketingAfter-market ServicesOutbound LogisticsCustomerEnterprise LevelOperations LevelControl&Supervision LevelField/Machine LevelProduction ProcessFigure 3:From Industry 3.0 to Industry 4.0The Smart Industry Readiness Index Framework strikes a good balance by offering practical applicability while maintaining both conceptual and technical rigour.Prof Dr-Ing Siegfried Russwurm,University of Erlangen-Nrnberg“6Catalysing the transformation of manufacturingToday,Singapore is recognised as a hub for high-value manufacturing.Singapore has developed a diverse manufacturing industry and occupies a leadership position in sectors such as aerospace,semiconductors,chemicals,and biomedical sciences.For instance,10 per cent of all the integrated circuit chips in the world are fabricated,assembled,or tested in Singapore.Five of the worlds top 10 drugs are manufactured here.And,despite not having any hydrocarbon reserves of its own,Singapores integrated energy and chemicals complex Jurong Island is the worlds fifth-largest producer of refined oil and ranks among the top 10 globally in terms of chemicals exports by volume.With its deep engineering and innovation capabilities,Singapore has been ranked fifth in the world under the manufacturing value-added category in the 2017Bloomberg Innovation Index.It is also the fourth-largest exporter of high-tech goods in the world,after China,the US,and Germany.According to a study by the Boston Consulting Group,Industry 4.0 could add S$36 billion in total manufacturing output,boost labour productivity by 30 per cent,and create 22,000 new jobs in Singapore by 2024.Industry 4.0 therefore presents an opportunity for Singapore to cement its position as a global manufacturing hub.With shifting factors of production now favouring innovation-intensive economies,Singapores skilled workforce and strengths in innovation position the country well to be amongst the top locations for companies to design and execute their Industry 4.0 strategies.Manufacturing:A Key Pillar of Singapores EconomyA national imperative for growth and transformation Impact of Industry 4.0Leadership in high value manufacturingManufacturing contributes 20%to Singapores GDPTodayBy 20245th 4th 5S$36bn500%largest producer ofrefined oil globallylargest exporter ofhigh-tech goods in the worldout of worlds top 10 drugs made in Singaporeincrease in totalmanufacturing outputincrease in salariesfor the 22,000 new jobscreatedboost in labour productivitySource:BP World Statistical Review 2017 and Uncomtrade 2015 Database.Source:BCG Singapore Industry 4.0 Study 2016.Figure 4:The impact of Industry 4.0 on Singapores manufacturing industrySingapores ambition is to be the global hub for manufacturing and one of the best places globally for high-tech innovation.What makes Singapore unique is the strong partnership between industry,the ecosystem of partners,and the government.This allows companies to translate Industry 4.0 concepts and technologies into new value,for Singapore and for the markets around us.Mr Lim Kok Kiang,Assistant Managing Director,EDB“7The Smart Industry Readiness IndexIndustry 4.0 is gathering momentum.Based on a 2017 study conducted in partnership with Accenture,seven out of 10 manufacturers from the energy,chemicals,and utilities sectors in Singapore plan to deploy Industry 4.0 solutions by 2020.Companies also regard Industry 4.0 as a lever to boost both organisational efficiency and business productivity.However,the pace of Industry 4.0 adoption is uneven across different industries and companies.Companies both globally and locally are grappling with the concept of Industry 4.0 and the value it could bring.For these companies,questions such as What is Industry 4.0,and how can it benefit my company?Where should I start?What are my gaps today and where are the opportunities tomorrow?remain unanswered.The Smart Industry Readiness Index(SIRI)Framework and an accompanying Assessment Matrix tool were therefore developed to address these challenges.The SIRI Framework covers the 3 core building blocks(Process,Technology,and Organisation)critical to achieving future-ready facilities,and the Assessment Matrix tool is designed to strike a balance between technical rigour and practical applicability.The Assessment Matrix also defines the end states and the intermediate steps needed for continual improvement.Collectively,the SIRI Framework and Assessment Matrix tool aim to equip companies with practical knowledge about:What Industry 4.0 is and the tangible benefits it could yield;The maturity levels of their organisations and facilities;and How they can improve in a targeted and incremental manner.Created in partnership with global testing,inspection,and certification company TV SD,and validated by an advisory panel of academic and industry experts,SIRIs frameworks and tools are designed to help all companies globally regardless of size,profile,and level of maturity to determine where to start,how to scale,and what they can do to sustain growth.The Smart Industry Readiness IndexCatalysing the transformation of manufacturingObjectives and intent With rapid advancements in digital technologies and the push for process integration,the time for Industry 4.0 is now.For companies globally,disruptive technologies of Industry 4.0 hold the promise of creating smart facilities that are highly efficient and digitally integrated.It is an opportunity to take the lead in shaping one of the most significant shifts in manufacturing that we have ever seen.Mr Raimund Klein,Executive Vice President,Digital Factory&Process Industries&Drives,Siemens“8Catalysing the transformation of manufacturingDevelopment ProcessScreenDraftValidatePilotLaunchDesign and development of a practical yet technically rigorous framework and toolValidate with a panel of industry and academic expertsPilot the framework and tool with Singapore-based SMEs and MNCsLaunch SIRI as a suite of frameworks and tools for industry to learn and applyLiterature review and landscape scan of existing concepts and frameworks Research andEvaluationDesign andDevelopmentKey ExpertValidationPilot with IndustryPublication ofWhitepaperFigure 5:The five stages of the development processThe development process commenced with a literature review of a wide range of Industry 4.0 related concepts and frameworks.These included industry reports,landscape studies,business surveys,and models produced by leading associations and industry players.At its core,the SIRI Framework and Assessment Matrix draws on the Reference Architectural Model for Industry 4.0(“RAMI 4.0”)developed by Plattform Industrie 4.0,one of the largest Industry 4.0 networks in the world.Today,RAMI 4.0 has been formally acknowledged by key experts and respected associations to be the reference architecture model which best embodies the key concepts and ethos of Industry 4.0.Beyond RAMI 4.0,other reference materials included(but were not limited to)the Industrie 4.0 Maturity Index developed by the German Academy of Science and Engineering(acatech)and the Bersin model for human capital development by Deloitte.To ensure the technical robustness and usability of the Assessment Matrix,an advisory panel of experts from industry and academia was also consulted.The panels input was then used to further improve the Assessment Matrix.Thereafter,the Assessment Matrix was piloted with a group of Singapore-based industrial companies.Participating companies ranged from small and medium-sized enterprises(SMEs)to multinational corporations(MNCs),including both discrete and process manufacturing facilities.Each pilot was conducted through a workshop involving the companys senior management and engineering and operations teams,alongside the core SIRI development team.The insights,suggestions,and feedback gained from each pilot were then taken into account when refining the Assessment Matrix.The Smart Industry Readiness Index gives clear orientation to manufacturers on what Industry 4.0 means and how they can initiate their transformation journey.The Assessment Matrix is a worlds first Industry 4.0 tool that is developed by the government for nation-wide transformation of industrial sectors.Strongly aligned with Industry 4.0 and other global manufacturing initiatives,the SIRI Framework and Assessment Matrix have the potential to be the global standard for the future of manufacturing.Prof Dr-Ing Axel Stepken,Chairman of the Board of Management,TV SD“9The Smart Industry Readiness IndexThe SIRI Framework Operations Supply Chain Product Lifecycle SmartIndustryReadinessIndexIntelligence Connectivity Automation Structure&Management Talent ReadinessProcess Organisation Technology Figure 6:The 3 building blocks and the 8 pillarsThe SIRI Framework identifies the 3 fundamental building blocks Technology,Process,and Organisation that must be considered for any factory or plant to transform into a factory/plant-of-the-future.All 3 building blocks must be considered in order to harness the full potential of Industry 4.0.Underpinning the 3 building blocks are 8 key pillars,which represent critical areas that companies must focus on to become future-ready organisations under the Industry 4.0 reference model.The Technology Building BlockTechnological advancement has been the cornerstone of the last three major industrial revolutions.The discovery of steam power enabled the first industrial revolution,while innovations in electric power catalysed the second.In a similar manner,Industry 3.0 was powered by the advent of electronics and Information Technology(IT)systems,which allowed companies to achieve an unrivalled degree of precision and efficiency through automation.Technology remains critical under Industry 4.0.New digital technologies,such as cloud computing,machine learning,and the Internet of Things(IoT)are creating a hyper-connected industrial landscape where physical assets and equipment are integrated with enterprise systems to enable the constant and dynamic exchange and analysis of data.These cyber-physical systems in turn make companies more agile and nimble.For companies to realise their Industry 4.0 ambitions,a high degree of automation,ubiquitous connectivity,and intelligent systems are necessary.To reflect this,the Technology building block has been segmented into the 3 pillars of Automation,Connectivity,and Intelligence.The 3 Building Blocks and the 8 Pillars 10Catalysing the transformation of manufacturingOne of the key disruptive forces of Industry 4.0 is the ever-increasing volume,velocity and value of data.Looking ahead,traditional manufacturing companies need to change their perception of data,not just as numbers on a screen,but as a strategic asset that can unlock revenue growth and deliver cost savings.Companies who embrace this shift will start building the infrastructure for connectivity and intelligence right away.Ms Vidya Ramnath,Vice President,Global Plantweb Solutions&Services,Emerson Automation Solutions“The Automation Pillar Automation the application of technology to monitor,control,and execute the production and delivery of products and services was the hallmark of Industry 3.0.It not only freed workers from mundane and repetitive tasks,but also enhanced the speed,quality,and consistency of execution.While Automation has been and will continue to be a key enabler for companies,the role of automation is changing.To cope with rising demand for smaller batches and on-demand production,it is no longer sufficient to simply maximise efficiency.To adapt quickly to changing market needs,Automation needs to be flexible instead of fixed.As automation systems become flexible,they will generate a larger range of products in smaller batches,without needing to invest in significant capital or time to overhaul or redesign processes.This puts manufacturers in a more competitive position,helping them to pursue a large variety of global business opportunities and adapt to rapidly changing customer needs.The Connectivity PillarConnectivity measures the state of interconnectedness between equipment,machines,and computer-based systems to enable communication and data exchange across assets.Like Automation,the concept of Connectivity has taken on a new meaning under Industry 4.0.Every day,more and more devices and systems are being converted from wired and analogue formats to wireless and digital ones.Such IoT-enabled devices are also increasing in both quality and quantity,generating enormous amounts of data as a result.Technological advancements in cloud computing and wireless infrastructure also make it possible for data to be centrally collected and managed.Likewise,systems that were once independent or isolated can now be integrated,unifying the various shop floor,facility,and enterprise systems through connected organisation-wide networks.Interoperability the ability to access data across assets and systems with ease is key to achieving this.Companies need to standardise or make use of complementary communication technologies and protocols to establish more open,inclusive,and transparent communications networks.Such deeply interconnected systems also make cyber-physical security an integral aspect of Connectivity.Hyper-connected manufacturing operations can increase the number of vulnerable points in a system,which could give cyber-attacks a far more extensive impact than before.To mitigate this risk,secure and resilient cyber-physical security architectures will need to be established.The Intelligence PillarWhile Automation provides the muscle for Industry 4.0 and Connectivity acts as its central nervous system,Intelligence is the brain powering this new age.Automation and Connectivity focus on establishing linkages between equipment,machines,and computer-based systems for the collection and integration of data.Intelligence is about the processing and analysis of that data.This is important as modern manufacturing is no longer just about finding ways to operate faster while reducing expenses;it is also about doing so in a data-driven and intelligent way.The benefits to be derived from the Intelligence pillar are significant and far-reaching.With technologies such as cloud and data analytics,the vast quantities of data generated can be processed and translated into actionable insights to diagnose problems and identify opportunities for improvement.With machine learning,highly intelligent systems can assist the workforce in predicting equipment failures and changes in demand patterns.At their best,these intelligent systems can also autonomously make decisions and respond to changing internal and external business needs.11The Smart Industry Readiness Index Industry 4.0 is driving a paradigm shift from the optimisation of physical assets and systems to the optimisation of processes,where data is integrated across the operations,enterprise,and product lifecycle layers.This allows for stronger cross-functional integration and closer collaboration not just within the company but also with external stakeholders such as suppliers and customers.Dr-Ing Gunther Kegel,CEO,Pepperl Fuchs&President of VDE“The Process Building Block To maximise value,Technology must always be applied in tandem with effective,well-designed Processes.After all,using technology to digitalise a poorly-designed process will only result in a poorly-designed digital process.Conversely,applying technology to a well-developed process will enhance its efficiency and enable the creation of new value.From the beginnings of modern manufacturing,companies have used process improvements to lower costs and shorten their time-to-market.Previously,companies centred their efforts on improving the efficiency of individual processes.Under Industry 4.0,the concept of process improvements has expanded to focus on the integration of processes within a firms Operations,Supply Chain,and Product Lifecycle.This stems from the new ethos of connecting intelligent facilities with every part of the production value chain.As processes within Operations,Supply Chain,and Product Lifecycle become integrated,they will converge into a single unified system where data is shared,processed,and integrated across the product management,production,and enterprise layers of the organisation.This will then generate the next leap forward in flexibility and efficiency.The Operations PillarThe first pillar,Operations,encompasses the planning and execution of processes which lead to the production of goods and services.The end goal is to convert raw materials and labour into goods and services at the lowest cost.While this objective does not change in the context of Industry 4.0,companies can now access new technologies and approaches to achieve this goal more rapidly and with better results.For instance,companies can use data analytics to reduce waste by identifying and improving inefficient processes.They can also use wireless communications to connect discrete processes and systems,to enable the remote monitoring and decentralised control of assets.The Supply Chain PillarSupply Chain management encompasses the planning and management of raw materials and inventory of a companys goods and services,all the way from the point of origin to the point of consumption.Under Industry 4.0,traditional supply chain models will become increasingly digital:processes across the supply chain will be connected through a sensor network and managed through a central data hub and analytics engine.The digitalisation of supply chains will also allow decisions about cost,inventory,and operations to be made from an end-to-end perspective rather than in isolation.This evolution benefits all players across the value chain,with greater speed due to reduced lead times;greater flexibility through real-time optimisation for changing needs;greater personalisation;greater efficiency and greater transparency,both internally and for partners.The Product Lifecycle PillarThe Product Lifecycle refers to the sequence of stages that every product goes through from its initial conceptualisation to its eventual removal from the market.These stages range from design,engineering,and manufacturing to customer use,service,and disposal.A robust product lifecycle management framework has always been integral to manufacturing operations;however,shorter product cycles and a growing demand for personalisation have accentuated the need for greater integration and digitalisation across the different Product Lifecycle stages.Advancements in digital tools have made it easier than ever before to bring together data,processes,business systems,and people to create a single unified information backbone that can be managed digitally.Industry 4.0 also introduces the concept of a“digital twin”,which is a virtual representation of the physical assets,processes,and systems involved throughout a product lifecycle.A digital twin offers two key benefits.Firstly,the information generated at each stage can be shared seamlessly,facilitating better decision-making and enabling processes to be dynamically optimised in other stages.This allows companies to shorten their design and engineering cycles and respond to customer demands more quickly.Secondly,a digital twin removes the limitations of working with physical prototypes.By working off the digital twin,multiple prototypes can be created and tested virtually at speed,at scale,and at a much lower cost.12Catalysing the transformation of manufacturingThe Organisation Building BlockOrganisation is the third building block of Industry 4.0.Often under-regarded,Organisation plays an equally important role alongside Technology and Processes.To remain relevant in the face of increasing competition under Industry 4.0,companies must adapt their organisational structures and processes to allow their workforce to keep pace.Industry 4.0 calls for a greater focus on two key components that can affect an organisations effectiveness.The first component is the people who make up the organisation the entire workforce from the top management down to the operational teams.The second component is the institutional systems that govern how the company functions.Both components must be taken into account in order to fully reap the benefits of Industry 4.0.For instance,even a competent leadership team and workforce will be demotivated by rigid structures,inconsistent practices,and siloed processes.Likewise,open channels for collaboration and innovation will not be effective unless employees are informed and incentivised to use them.As such,the necessary enhancements must be made to people,represented by Talent Readiness,and the company,represented by Structure&Management,before a company can implement Industry 4.0 strategies effectively.The Talent Readiness PillarFor any transformation to deliver value,Talent Readiness the ability of the workforce to drive and deliver Industry 4.0 initiatives will be a keyfactor for success.As organisations embrace flatter structures and decentralised decision-making,it becomes critical to build a competent and flexible workforce characterised by continuous learning and development at all levels.Everyone has a role to play.Management must put in place systems or practices that will allow people to constantly stay abreast of the latest developments in Industry 4.0.This will allow them to capture new opportunities to drive improvement.Concurrently,the wider workforce needs to be multi-skilled and adaptable to manage Industry 4.0s dynamic and digitalised operations.This is enabled by formal talent development programmes that are not only aligned with the companys business and human resource objectives but also foster a culture of self-learning and personal development.If successful,a skilled,self-learning workforce and leadership core will be created,one which will be able to maximise the value of any transformation initiative.The Structure&Management PillarAn organisations Structure is its system of explicit and implicit rules and policies that outline how roles and responsibilities are assigned,controlled,and coordinated.Structure influences how teams act and interact and how initiatives are to be implemented to achieve organisational goals.Just as process design determines how successful production will be,an organisations Structure determines how successful the company will be in achieving its goals.Under Industry 4.0,organisations will see greater decentralisation of decision-making,increased openness in information sharing,and more collaboration among teams both internally and with external partners.In the long run,this will enable companies to make decisions in a more agile manner and to become more responsive to changes.Meanwhile,Management is fundamentally about getting people to work together towards a well-defined common goal.Given the paradigm shifts on multiple fronts,Industry 4.0 is also a change management exercise.Strong leadership,supported by a clear strategy and governance framework,is hence essential for any organisation to successfully navigate this increasingly complex and highly networked world.Robust Structure&Management will make an organisation more flexible,collaborative,and empowered to design and implement Industry 4.0 strategies effectively.Companies must embrace Industry 4.0 to prepare the digital foundation needed for a manufacturing future that is like no other Industry X.0 which has at its heart highly intelligent,interconnected products and ecosystems that create a fully digital value chain,supplemented by new core innovation competencies and deep cultural change.Therefore,beyond digitalisation,organisational talent,structures and processes will need to be adapted and built across the enterprise to put it on the right trajectory into this future of connected everything.Mr Senthil Ramani,Managing Director,Accenture“13The Smart Industry Readiness IndexThe 16 Dimensions of AssessmentSmart Industry Readiness IndexProcessTechnologyOrganisationOperationsVertical IntegrationHorizontalIntegrationLeadershipCompetencyStrategy&GovernanceInter-and Intra-CompanyCollaborationIntegratedProduct LifecycleWorkforce Learning&DevelopmentSupply ChainAutomationConnectivityIntelligenceTalentReadinessStructure&ManagementProductLifecycleShop FloorEnterpriseFacility12347101315141658116912Figure 7:The 16 Dimensions of AssessmentThe 3 building blocks and 8 pillars which we have just described map onto 16 dimensions,which are assessment areas,covered in the Assessment Matrix tool,that companies can use to evaluate the current readiness of their facilities.A brief description of each of the 16 dimensions is provided in this section,and the full Assessment Matrix tool can be found on page 22.Dimension 1:Process Vertical IntegrationVertical Integration is one of the three key characteristics of a digitalised facility defined under Industry 4.0 by acatech.It can be understood as the integration of processes and systems across all hierarchical levels of the automation pyramid within a facility to establish a connected,end-to-end data thread.This dimension seeks to assess the extent of formal connections and linkages between and across processes and systems,and it also takes into account how data is exchanged and analysed.In its ideal form,the Vertical Integration dimension defines a state where all OT and IT systems across the production and enterprise levels are integrated into automated,interoperable,and flexible networks that will permit seamless data exchange,analysis,and decision-making.This will in turn allow better communication,flexibility,and operational efficiency,and will also enable faster and more concerted responses to any changes in resource availability,operational demands,or product types.Dimension 2:Process Horizontal IntegrationHorizontal Integration,the second key characteristic of Industry 4.0,refers to the integration of enterprise processes across the organisation and with other stakeholders along the value chain.Enterprise processes include demand planning,procurement,logistics,and after-market services,while stakeholders include suppliers,business partners,and customers.Much like Vertical Integration,Horizontal Integration evaluates the presence of formal channels that enable information sharing as well as how data is exchanged and analysed.As processes and systems become ever more defined and digital,the Horizontal Integration dimension describes an end state where a companys internal processes converge with those of its suppliers and partners.This creates an interoperable and transparent network,within which all stakeholders are able to coordinate and optimise their processes,tasks,and decisions across the entire value chain.Besides enabling higher productivity and shorter lead times,such an integrated value chain can also facilitate the creation of new business and operating models.Dimension 3:Process Integrated Product LifecycleIntegrated Product Lifecycle integrates people,processes,and systems along the entire product lifecycle,and also examines how data is collected,managed,and analysed across the different stages of the product lifecycle.These stages include design and development,engineering,production,customer use,service and disposal.14Catalysing the transformation of manufacturingTo build an Integrated Product Lifecycle,companies will need to use digital tools and systems to create a production information backbone that can be accessed by employees and their extended enterprise networks.At the most advanced stage,companies may create“digital twins”of processes and assets.By removing physical constraints through these digital twins,companies can shorten development cycles,improve existing systems,and launch new processes and products swiftly and at scale.Dimensions 46:Automation Shop Floor,Enterprise,and FacilityAcross the Shop Floor,Enterprise,and Facility layers,the Automation dimensions evaluate the degree and flexibility of automation,as well as the extent of its integration across multiple systems.The lower bands assess the overall automation levels of both production and support processes.Flexibility is then introduced in a higher band,as flexible automation will allow processes to be reconfigured and machines to be re-tasked.This allows companies to manufacture a greater variety of products with shorter turnaround times.At its most advanced stage,automation systems across all three layers will converge and interact dynamically with one another as a single integrated whole.Dimensions 79:Connectivity Shop Floor,Enterprise,and FacilityThe Connectivity dimensions evaluate the level of interconnectedness between the equipment,machines,and systems that reside within the Shop Floor,Enterprise,and Facility layers.Once formal connections have been established across assets and systems,the higher bands measure the interoperability,security,speed,and agility of the network as a whole.These qualities allow interconnected systems to communicate with one another seamlessly,and allow them to be reconfigured dynamically in response to changing needs.Dimensions 1012:Intelligence Shop Floor,Enterprise,and FacilityThe Intelligence dimensions evaluate the ability of IT and OT systems at the Shop Floor,Enterprise and Facility layers to identify and diagnose any deviations and adapt to changing needs.At the lower bands,basic intelligence is derived by processing large quantities of data and detecting any deviations from predefined parameters.As more advanced algorithms and models are introduced,computer systems will be able to detect deviations,identify likely causes,and even predict potential failures ahead of time.Ultimately,IT and OT systems will autonomously learn and adapt to new needs while making decisions on their own to optimise processes,assets and resources.Dimension 13:Organisation Workforce Learning and DevelopmentA Workforce Learning and Development(“L&D”)strategy aims to develop the workforces capabilities,skills and competencies to achieve organisational excellence.In the context of Industry 4.0,this is especially critical as new technologies and processes will fundamentally alter the nature of work and the types of skills required.Traditional engineering capabilities will need to be augmented with new digital skills,such as data analytics,systems integration,and software development.In the long term,the entire workforce needs to have digital confidence,which may include skills such as data interpretation and automation management.Employees will also need to adapt to new types of interactions between people and machines,where humans manage operations alongside intelligent machines and systems.As a proxy to workforce readiness,the Workforce Learning and Development dimension measures the quality of a companys L&D programmes.To start with,L&D programmes should be structured and implemented on an ongoing basis;this will provide employees with opportunities for continuous learning,helping them to acquire new skills and enhance existing ones.This is important as occupational needs and job roles evolve with time.To achieve a high level of workforce readiness,L&D programmes must be aligned with business needs and integrated with other key human resource functions like talent attraction and career development.They must also be dynamically updated based on the feedback and insights provided by employees and business teams,and should proactively position the workforce for future skills.Integrated and forward-looking L&D programmes allow companies to build a high-performing and future-ready workforce capable of managing and sustaining Industry 4.0 initiatives.For Dimensions 412Under the Technology building block,the SIRI Framework and Assessment Matrix segments the areas of assessment into three layers:the Shop Floor,where the production and management of goods are carried out;the Enterprise,where administrative tasks are carried out;and the Facility,which is the physical building or premises where production takes place.15The Smart Industry Readiness IndexIndustry 4.0 is a global leadership topic that should be on top of any CXOs agenda.Strong leadership competency is an imperative to drive enterprise transformation,to shift the focus from todays operational needs to readiness for tomorrows opportunities.Mr Amos Leong,CEO,Univac“Dimension 14:Organisation Leadership CompetencyLeadership Competency refers to the readiness of the management core to leverage the latest concepts and technologies for the companys continued relevance and competitiveness.As transformation is a multi-year journey that will evolve and adapt over time,it must be led from the front by a strong leadership core with commitment,a clear vision,and the right capabilities and knowledge.To unlock their full potential,companies may adopt flatter organisational structures and enable decentralised decision-making.At the lower bands,this dimension examines the management teams familiarity with the latest concepts and technologies,and the ways by which such knowledge is acquired.Companies should establish processes and systems for the acquisition of information on the latest trends,concepts,and technologies.As a company progresses,this dimension will then measure the leadership teams ability to independently design,execute,and adapt transformation strategies to ensure the companys relevance in the long term.Dimension 15:Organisation Inter-and Intra-Company CollaborationInter-and Intra-Company Collaboration refers to the process of working together,both internally and with external partners,to achieve a shared vision and purpose.Industry 4.0 has created a connected network of systems and technologies which reduce the cost of collaboration.It has also redefined the basis of competition while increasing the pace of change;in such a highly networked environment,companies must be able to collaborate effectively and adapt swiftly.However,the biggest barriers to collaboration are often not technical,but cultural and institutional in nature.As such,the Inter-and Intra-Company Collaboration dimension assesses the formal channels that enable employees to share information and work together,as well as the institutional structures and systems that allow collaborative behaviours and initiatives to flourish.Flatter organisational structures enable faster decision-making,and the alignment of incentives can empower the workforce to collaborate more effectively.At its highest form,cross-functional teams can be dynamically formed across internal departments and even include partners and customers,with shared goals,resources,and joint key performance indicators(KPIs).The benefits of a high level of collaboration run deep.Through effective and open inter-and intra-collaboration,companies can tap into a wider degree of expertise and resources to address complex,multi-stakeholder challenges.In the long term,this will shift the company from a culture of internal competition to a culture of shared goals,accountability,and rewards.Dimension 16:Organisation Strategy and GovernanceStrategy and Governance relate to the design and execution of a plan of action to achieve a set of long-term goals.It includes identifying priorities,formulating a roadmap,and developing a system of rules,practices and processes to translate a vision into real business value.This dimension examines how well an organisation has developed and implemented its strategy,and a robust governance model.Both factors are critical and must exist in tandem to manage the complexity that comes with the increasing interconnectedness of processes,systems,and people.To navigate change and mitigate risk,companies will need to define their vision and end-outcomes while establishing consistent guiding principles and supporting structures.This will guide decision-making and help determine the approaches needed to achieve the companys desired outcomes.The different bands map the natural progression that a company will take,from the identification of Industry 4.0 as a strategic focus to the development,implementation,scaling,and continual enhancement of the strategy and governance model.16Catalysing the transformation of manufacturingThe LEAD FrameworkMapping the Industry 4.0 Transformation JourneyThe SIRI Framework and the Assessment Matrix allow our manufacturing teams to take stock of what we are doing well and where we can do better.This forms a good basis to build a shared Industry 4.0 vision and strategy,enabling us to take decisive action in initiating a multi-year transformation journey.Mr Hashim Baba,Plant Manager,Becton Dickinson Singapore“To help manufacturers characterise their transformation journeys,we present a circular,continuous four-step process that all manufacturers can adopt in their approach towards Industry 4.0 transformation.These steps,encapsulated in the LEAD framework,will help companies determine where to start,how to scale,and what they should do to sustain growth in a world powered by Industry 4.0.Learn key concepts and build a common language for alignment Evaluate the current Industry 4.0 maturity levels of existing facilities Architect a comprehensive transformation strategy and implementation roadmap Deliver impact and sustain transformation initiatives 1234Figure 8:The LEAD frameworkEvaluate the current Industry 4.0 maturity levels of existing facilitiesWhile the term Industry 4.0 was created several years ago,many manufacturing companies,particularly SMEs,remain unfamiliar with it.The SIRI Framework is an intuitive and realistic reference framework that is useful for all industrial companies,both big and small,to not only learn these new concepts but also to apply them to our facilities.Mr Desmond Goh,Director,People Bee Hoon Factory“17The Smart Industry Readiness IndexA thorough understanding of key Industry 4.0 concepts will provide companies with a firm foundation for transformation.However,according to McKinseys 2016 and 2017 Industry 4.0 Global Expert Surveys,there is a high level of uncertainty among manufacturers about what is required for the implementation of Industry 4.0.As a consequence,many are still struggling to get started,and fewer than half the participants in the surveys considered their companies to be well-prepared for Industry 4.0.They highlighted their lack of familiarity with key concepts,combined with the absence of a clear strategy and roadmap,as some of the biggest challenges hindering Industry 4.0 adoption.Even when companies have started their Industry 4.0 transformation journeys,knowledge generally remains confined to the corporate management level or to a few in-house experts.However,real transformation requires the wider workforce within each company to be exposed to Industry 4.0 and to have a sound understanding of how this new paradigm can make a positive impact on their daily work.SIRI aims to help companies in this critical first step by strengthening their institutional knowledge about Industry 4.0 in two ways.First,by examining the three building blocks,eight pillars,and 16 dimensions presented by the SIRI Framework,companies can be more informed and educated about the core concepts and fundamental principles of Industry 4.0.This ensures that companies will be equipped with the following knowledge:An understanding of the key principles,concepts and technologies under Industry 4.0;An overview of the tangible benefits and business value that Industry 4.0 can yield;and A guide to illustrate how companies can achieve their ideal end states in a practical,stepwise fashionSecond,SIRI aims to establish a common language among the various stakeholders necessary for Industry 4.0 transformation.The new technical terms and jargon arising from Industry 4.0 can be confusing and counterproductive for companies.By providing companies with an intuitive and standardised set of terms and definitions,SIRI can establish a common understanding among companies and the workforce.This will facilitate more effective communication within the organisation and with external partners and customers.A common language also allows technology providers to have more effective and productive conversations with manufacturers,helping them to identify gaps,define priorities,and structure comprehensive transformation roadmaps.Within many organisations,the level of familiarity towards Industry 4.0 concepts can vary significantly across the different technology and operations teams.Even for companies with considerable expertise,knowledge often resides in specific individuals or teams,rather than being uniformly understood across the entire organisation.The SIRI Framework and Assessment Matrix tool form a good basis to drive alignment towards a common understanding and vision.Mr Allan Ferrie,Assembly and Test Director,Rolls-Royce Singapore“LEARN key concepts and build a common language for alignmentEVALUATE the current Industry 4.0 maturity levels of existing facilitiesLearning the key concepts is an essential first step.However,that alone will not help companies to devise effective transformation strategies.Companies must understand where they currently are before they can identify what and how to improve.Thus,to help companies conduct comprehensive assessments of their factories or plants,this whitepaper includes an Assessment Matrix tool incorporating all 16 dimensions.This Assessment Matrix tool can be found in the next section of this paper and should take no more than one or two days to complete.Before undertaking the assessment,however,companies should go through the following thought process to ensure that the assessment exercise will produce meaningful results.Companies need to identify three things:What to evaluate.Companies need to define the scope of their assessment,and can choose to evaluate either an entire manufacturing facility or break it down to examine each product group independently.The latter is especially relevant for companies that own multiple product groups,each of which may be at a different stage of maturity or have its own distinct processes.Ultimately,however,companies should seek to evaluate their facilities in their entirety.18Catalysing the transformation of manufacturing1 The SIRI Assessment provides a snapshot of a facilitys current state but not its future potential.2 The SIRI Assessment uses Industry 4.0 concepts as the reference points.Future manufacturing and industrial concepts,as well as technologies,should also be taken into consideration,if relevant.3 All dimensions should be considered,though the importance and relevance of each will vary depending on the nature of the industry and the companys current and future needs.4 Companies should not feel compelled to achieve Band 5 across all dimensions.Instead,they should strive towards higher bandings based on specific business needs and aspirations.5 The SIRI Assessment is more than a one-off exercise it should be used on an ongoing basis.The 5 Principles of AssessmentFigure 9:The 5 Principles of Assessment Who to evaluate.After defining the scope of the assessment,companies should identify the key stakeholders who will participate in this exercise.Due to the comprehensive nature of the Assessment Matrix,the assessment exercise should ideally involve a cross-functional team including key stakeholders like the general manager and senior leaders from the operations,IT,facility,and human resource departments.How to evaluate.Due to the mix of legacy and new systems within every brownfield facility,companies will find that,for certain dimensions,the state of their facilities may not be fully represented in one single band.For example,under the facility automation dimension,heating,ventilation and air-conditioning(HVAC)systems might be fully automated,which would place them under Band 3.However,lighting systems might still require manual operation,which is more accurately represented in Band 2.In such cases,it is up to the companies discretion to opt for either banding.Conducting a SIRI Assessment,or evaluating the current state of a factory or plant using the Assessment Matrix,must also be based on the five fundamental principles listed in Figure 9.Principle 3 is especially important and must be emphasised:while all 16 dimensions should be formally considered,this does not mean that every dimension is of equal importance.Instead,the importance and relevance each dimension will vary depending on each companys needs and cost profile.For example,if utilities constitute a greater component of overall operating expenses,facility-related dimensions will be of higher priority to that company.Conversely,if labour costs make up a large portion of overall operating expenses,shop floor automation may warrant more attention.In the same vein,the relative importance of each dimension also varies across industries.For example,approximately 70%of manufacturing costs in the energy and chemicals industry are attributable to raw materials.It is therefore natural for companies in this industry to focus on horizontal integration in order to reduce inefficiencies across their supply chains.Similarly,facility automation will be an important dimension for the semiconductor industry as cold rooms needed for the management of ambient temperature and humidity require significant amounts of electricity,and efficient facility automation could translate into significant cost savings.Once these considerations have been taken into account,companies can begin the assessment.Through open discussions,companies should measure their existing processes,systems,and structures.They should then score themselves inone of six bands for each of the 16 dimensions.The Assessment Matrix tool deliberately uses bands instead of scores,each of which represents a distinct stage of the Industry 4.0 transformation journey.This is because,in reality,each stage is better represented by a range rather than by a discrete point.19The Smart Industry Readiness IndexAs part of our Smart Enterprise program,we have been investing in many initiatives to achieve significant improvements in speed,productivity,and quality.Here,we see this Assessment Matrix as a useful tool to help us to unlock maximum value by not only pushing us to investigate new dimensions that were not considered previously,but also allowing us to pursue our Industry 4.0 strategy in a more targeted fashion.Mr Laurent Filipozzi,Site Head,Infineon Plant,Singapore“ARCHITECT a comprehensive transformation strategy and implementation roadmapAccording to PwCs 2016 Global Industry 4.0 survey,global industrial companies plan to invest US$907 billion(S$1260 billion)per year globally in Industry 4.0 over the next five years.With a growing number of companies looking to initiate or scale up their transformation initiatives,the SIRI Framework and Assessment Matrix serve as a timely guide to help them design a comprehensive strategy and roadmap for Industry 4.0 transformation to ensure that they start out on the right footing.In this third step,companies can use the SIRI Framework and Assessment Matrix in two tangible ways.First,the SIRI Framework serves as a checklist for companies,helping them to ensure that all the building blocks,pillars,and dimensions are formally considered.While the relative importance of each dimension may vary,companies must consider all the dimensions to ensure that all the ground is covered.Even if they ultimately decide to deprioritise specific dimensions and focus on others,it is important that these decisions be informed choices made after careful consideration.Also,many industrial companies often fail to include improvements in complementary or adjacent domains that might yield additional benefits.This happens for two reasons.One,many companies tend to focus only on the domain directly related to the issue at hand:for instance,if a company employs too many low-skilled workers engaged in repetitive tasks,that company will tend to focus on increasing shop floor automation.Two,teams and companies tend to focus more on areas they are already familiar with:for example,a warehouse management team will naturally tend to focus on supply chain initiatives.Thus,the SIRI Framework serves as a checklist to provide companies with a systematic way to broaden the scope of their existing or future transformation initiatives.Secondly,the Assessment Matrix doubles as a step-by-step improvement guide,breaking down and laying out the intermediate steps of the long-term Industry 4.0 transformation journey.These intermediate phases are necessary because even though there are many frameworks articulating the ideal Industry 4.0 end-state,few provide practical guidance on how to get there.Without proper guidance,many companies will struggle to develop a way to bridge the gap between their current“as-is”state and their“to-be”vision.This issue is often amplified for brownfield facilities,where limitations and considerations such as operational continuity,fragmented systems,and legacy infrastructure often dictate and limit the scale and feasibility of transformation initiatives.By providing clear definitions and descriptions for all bands across the 16 dimensions,the Assessment Matrix aims to address this challenge.It will enable companies to systematically identify high-impact initiatives and structure effective implementation plans with clearly defined phases,timelines,and targets.Often,companies tend to focus excessively on shop floor automation and under-invest in equally important areas such as process design and workforce competency.The SIRI Framework serves as a useful counter-check to ensure that no dimensions are overlooked,in order to capture maximum value from any Industry 4.0 initiatives.Mr Yeoh Pit Wee,Director for Manufacturing Operations,Rockwell Automation“20Catalysing the transformation of manufacturingDELIVER impact and sustain transformation initiativesAs with all transformation initiatives,a well-designed strategy is only as good as its execution.Once a company has come up with its transformation roadmap,the next step is to put the right infrastructure,systems,and processes in place.Companies will need to determine the optimal approach to achieve their outcomes across the various phases and initiatives.To ensure sustained impact,SIRI serves as a blueprint for companies to measure and refine their initiatives over a multi-year period.Transformation should not be short-lived but should instead be a long-term endeavour.Even as companies kick-start their transformation through quick wins,the right systems should be put in place to sustain these gains.Transformation strategies must also adapt and evolve continually,and companies should therefore consider establishing central,cross-functional teams to execute initiatives,monitor progress,assess impact,and identify future opportunities for improvement.Like us,many companies have already started their transformation journey.Beyond addressing the operational concerns today,SIRI offers a useful framework to also guide our future decisions to deliver sustained impact.It also ensures that were always moving in the right direction and focusing on the things that matter.Mr Goh Koon Eng,General Manager,Chevron Oronite“There are many grand Industry 4.0 visions and plenty of innovative solutions to achieve these visions.However,it is difficult to translate this into tangible steps that deliver real value to the business.A well-defined roadmap will be a big help in identifying the most appropriate technologies to apply and an execution plan,to achieve both short-and long-term goals.Mr Lim Hock Heng,Site Director,GSK Singapore“21The Smart Industry Readiness IndexThe Way Forward Businesses must start taking decisive action today Companies seeking to embrace Industry 4.0 often come from very different starting points,with different capabilities and varying levels of ambition.Some will require a comprehensive transformation of their operations,processes,and business models.Others may need to expand their focus and explore adjacent areas.That said,regardless of the starting point or the nature of the industry,companies of all sizes will benefit from Industry 4.0.Collectively,SIRIs frameworks and tools offer a systematic approach for companies to start,scale,and sustain their transformation initiatives.Although the relative significance of the 3 building blocks,8 pillars,and 16 dimensions will vary across different industries,the concepts within SIRI attempt to provide companies with a common language to boost internal alignment and co-innovation with external partners.With the SIRI Framework and the Assessment Matrix,companies have the opportunity to take decisive action today by following the four steps in the LEAD Framework to set themselves on the right trajectory for transformation and growth.22Catalysing the transformation of manufacturingProcess Building Block|Operations Pillar|Vertical Integration DimensionVertical Integration is the integration of processes and systems across all hierarchical levels of the automation pyramid within a facility to establish a connected,end-to-end data thread.BandDefinitionDescription0UndefinedVertical processes are not explicitly defined.Resource planning and technical production processes are managed and executed in silos,based on informal or ad-hoc methods.1DefinedVertical processes are defined and executed by humans,with the support of analogue tools.1 Resource planning and technical production processes are managed and executed in silos,based on a set of formally defined instructions.2DigitalDefined vertical processes are completed by humans with the support of digital tools.Resource planning and technical production processes are managed and executed in silos,by Operations Technology(OT)and Information Technology(IT)systems.3IntegratedDigitised vertical processes and systems are securely integrated across all hierarchical levels of the automation pyramid.2OT and IT systems managing resource planning and technical production processes are formally linked;however,the exchange of data and information across different functions is predominantly managed by humans.4AutomatedIntegrated vertical processes and systems are automated,with limited human intervention.OT and IT systems managing the resource planning and technical production processes are formally linked,with the exchange of data and information across different functions predominantly executed by equipment,machinery and computer-based systems.5IntelligentAutomated vertical processes and systems are actively analysing and reacting to data.OT and IT systems are integrated from end to end,with processes being optimised through insights generated from analysis of data.1 Analogue refers to pre-digital methods of collecting,storing and sharing information(e.g.paper-based tracking systems).2 The industrial automation pyramid distributes systems in five levels:the field level,control level,production level,operations level,and enterprise planning level.Please refer to the definition of the automation pyramid in the Glossary for details.Assessment Matrix:The 16 Dimensions 23The Smart Industry Readiness IndexProcess Building Block|Supply Chain Pillar|Horizontal Integration DimensionHorizontal Integration is the integration of enterprise processes across the organisation and with stakeholders along the value chain.BandDefinitionDescription0UndefinedSupply chain processes3 are not explicitly defined.Enterprise processes are managed and executed in silos,based on informal or ad-hoc methods.1DefinedSupply chain processes are defined and executed by humans,with the support of analogue tools.Enterprise processes are managed and executed in silos,based on a set of formally defined instructions.2DigitalDefined supply chain processes are completed by humans with the support of digital tools.Enterprise processes are managed and executed in silos by IT systems.3IntegratedDigitised supply chain processes and systems are securely integrated across business partners and clients along the value chain.IT systems managing enterprise processes are formally linked;however,the exchange of data and information across different functions is predominantly managed by humans.4AutomatedIntegrated supply chain processes and systems are automated,with limited human intervention.IT systems managing enterprise processes are formally linked,with the exchange of data and information across different functions being predominantly executed by computer-based systems.5IntelligentAutomated supply chain processes and systems are actively analysing and reacting to data.IT systems are integrated from end to end,with processes being optimised through insights generated from analysis of data.3 Supply chain processes refer to the processes responsible for the flow and management of raw materials,inventory,goods,and services from the point of origin to the point of consumption.24Catalysing the transformation of manufacturingProcess Building Block|Product Lifecycle Pillar|Integrated Product Lifecycle DimensionIntegrated Product Cycle is the integration of people,processes and systems along the entire product lifecycle,encompassing the stages of design and development,engineering,production,customer use,service,and disposal.BandDefinitionDescription0UndefinedProduct lifecycle4 processes are not explicitly defined.Processes along the product lifecycle are managed and executed in silos,based on informal or ad-hoc methods.1DefinedProduct lifecycle processes are defined and executed by humans,with the support of analogue tools.Processes along the product lifecycle are managed and executed in silos,based on a set of formally defined instructions.2DigitalDefined product lifecycle processes are completed by humans,with the support of digital tools.Processes along the product lifecycle are managed and executed in silos,by digital tools.3IntegratedDigitised product lifecycle processes and systems are securely integrated across all stages of the product lifecycle.Digital tools and systems that manage the product lifecycle are formally linked with each other;however,the exchange of information along the product lifecycle is predominantly managed by humans.4AutomatedIntegrated product lifecycle processes are automated,with limited human intervention.Digital tools and systems that manage the product lifecycle are formally linked with each other,and the exchange of information along the product lifecycle is predominantly executed by computer-based systems.5IntelligentAutomated product lifecycle processes are actively analysing and reacting to data.Digital tools and systems deployed for the management of the product lifecycle are integrated from end to end,with the processes being optimised through insights generated from analysis of data.4 The product lifecycle process refers to the process that every product goes through,from its initial conceptualisation to its eventual removal from the market.The stages include design,engineering,manufacturing,customer use,service,and disposal.25The Smart Industry Readiness IndexTechnology Building Block|Automation Pillar|Shop Floor Automation DimensionShop Floor Automation is the application of technology to monitor,control and execute the production and delivery of products and services,within the location where the production and management of goods is carried out.BandDefinitionDescription0None Repetitive production5 and support processes6 are not automated.Production processes are executed by humans.1BasicRepetitive production processes are partially automated,with significant human intervention.Repetitive support processes are not automated.Production processes are executed by humans with the assistance of equipment,machinery and computer-based systems.2AdvancedRepetitive production processes are automated,with minimal human intervention.Repetitive support processes are not automated.Production processes are predominantly executed by equipment,machinery and computer-based systems.Human intervention is required to initiate and conclude each process.3FullRepetitive production processes are fully automated,with no human intervention.Repetitive support processes are partially automated,with limited human intervention.Production processes are fully automated through the use of equipment,machinery and computer-based systems.Human intervention is required for unplanned events.4FlexibleAutomated production processes are reconfigurable through plug-and-play automation.Repetitive support processes are partially automated,with limited human intervention.Equipment,machinery and computer-based systems can be modified,reconfigured,and re-tasked quickly and easily when needed.Limited human intervention is required for unplanned events.5ConvergedFlexible production and support processes are converged with enterprise and facility automation platforms to form highly autonomous networks.Equipment,machinery,and computer-based systems are flexible and formally integrated with enterprise and facility systems,to allow for dynamic,cross-domain interactions.4 Production processes refer to standardised series of actions that directly result in the production of intermediate or finished goods.5 Support processes refer to standardised series of actions which exchange materials or data,but do not directly result in the production of intermediate or finished goods.26Catalysing the transformation of manufacturingTechnology Building Block|Automation Pillar|Enterprise Automation DimensionEnterprise Automation is the application of technology to monitor,control and execute processes,within the location where the administrative work is carried out.These processes include,but are not limited to,sales and marketing,demand planning,procurement,and human resource management and planning.BandDefinitionDescription0None Enterprise processes are not automated.Enterprise processes are executed by humans.1BasicEnterprise processes are partially automated,with significant human intervention.Enterprise processes are executed by humans with the assistance of computer-based systems.2AdvancedEnterprise processes are automated,with minimal human intervention.Enterprise processes are predominantly executed by computer-based systems.Human intervention is required to initiate and conclude each process.3FullEnterprise processes are fully automated,with no human intervention.Enterprise processes are fully automated through the use of computer-based systems.Human intervention is required for unplanned events.4FlexibleAutomated enterprise processes are adaptable.Computer-based systems can be modified,reconfigured,and re-tasked quickly and easily when needed.Limited human intervention is required for unplanned events.5ConvergedFlexible enterprise processes are converged with shop floor and facility automation platforms to form highly autonomous networks.Computer-based systems are flexible and formally integrated with those of shop floor and facility systems to allow for dynamic,cross-domain interactions.27The Smart Industry Readiness IndexTechnology Building Block|Automation Pillar|Facility Automation DimensionFacility Automation is the application of technology to monitor,control and execute processes within the physical building and/or premises where the production area is located.These processes include but are not limited to the management of HVAC,chiller,security,and lighting systems.BandDefinitionDescription0None Facility processes are not automated.Facility processes are executed by humans.1BasicFacility processes are partially automated,with significant human intervention.Facility processes are executed by humans,with the assistance of equipment,machinery and computer-based systems.2AdvancedFacility processes are automated,with minimal human intervention.Facility processes are predominantly executed by equipment,machinery and computer-based systems.Human intervention is required to initiate and conclude each process.3FullFacility processes are fully automated,with no human intervention.Facility processes are fully automated through the utilisation of equipment,machinery and computer-based systems.Human intervention is required for unplanned events.4FlexibleAutomated facility processes are adaptable.Equipment,machinery and computer-based systems can be modified,reconfigured,and re-tasked quickly and easily when needed.Limited human intervention is required for unplanned events.5ConvergedFlexible facility processes are converged with shop floor and enterprise automation platforms to form highly autonomous networks.Equipment,machinery and computer-based systems are flexible and formally integrated with those of shop floor and enterprise systems to allow for dynamic,cross-domain interactions.28Catalysing the transformation of manufacturingTechnology Building Block|Connectivity Pillar|Shop Floor Connectivity DimensionShop Floor connectivity is the interconnection of equipment,machines and computer-based systems,to enable communication and seamless data exchange,within the location where the production and management of goods is carried out.BandDefinitionDescription0None Production assets and systems are not connected.Equipment,machinery and computer-based systems are not able to interact or exchange information.1ConnectedProduction assets and systems are connected via multiple communication technologies and protocols.There are formal network links that will enable equipment,machinery and computer-based systems to interact or exchange information.2InteroperableConnected production assets and systems are interoperable across multiple communication technologies and protocols.Equipment,machinery and computer-based systems are able to interact and exchange information without significant restrictions.3InteroperableAnd SecureInteroperable production assets and systems are secure.There is a vigilant and resilient security framework to protect the network of interoperable equipment,machinery,and computer-based systems from undesired access and/or disruption.4Real-TimeInteroperable production assets and systems are secure and capable of real-time communication.Interoperable and secure network links across different equipment,machinery and computer-based systems are able to interact or exchange information as the information is generated without delay.5ScalableInteroperable production assets and systems are secure,capable of real-time communication,and scalable.Existing networks can be configured quickly and easily to accommodate any modifications made to the existing composition of equipment,machinery and computer-based systems.29The Smart Industry Readiness IndexTechnology Building Block|Connectivity Pillar|Enterprise Connectivity DimensionEnterprise Connectivity is the interconnection of equipment,machines and computer-based systems,to enable communication and seamless data exchange,within the location where the administrative work is carried out.BandDefinitionDescription0None Enterprise IT systems are not connected.Computer-based systems are not able to interact or exchange information.1ConnectedEnterprise IT systems are connected via multiple communication technologies and protocols.There are formal network links that will enable computer-based systems to interact or exchange information.2InteroperableEnterprise IT systems are interoperable across multiple communication technologies and protocols.Computer-based systems are able to interact and exchange information without significant restriction.3InteroperableAnd SecureInteroperable Enterprise IT systems are secure.There is a vigilant and resilient security framework to protect the network of interoperable computer-based systems from undesired access and/or disruption.4Real-TimeInteroperable Enterprise IT systems are secure and capable of real-time communication.Interoperable and secure network links across the different computer-based systems are able to interact or exchange information as the information is generated,without delay.5ScalableInteroperable Enterprise IT systems are secure,capable of real-time communication,and scalable.Existing networks can be configured quickly and easily to accommodate any modifications made to the existing composition of computer-based systems.30Catalysing the transformation of manufacturingTechnology Building Block|Connectivity Pillar|Facility Connectivity DimensionFacility Connectivity is the interconnection of equipment,machines and computer-based systems,to enable communication and seamless data exchange,within the physical building and/or land plot where the production area is located.BandDefinitionDescription0None Facility assets and systems are not connected.Equipment,machinery and systems are not able to interact or exchange information.1ConnectedFacility assets and systems are connected via multiple communication technologies and protocols.There are formal network links that will enable equipment,machinery and computer-based systems to interact or exchange information.2InteroperableFacility assets and systems are interoperable across multiple communication technologies and protocols.Equipment,machinery and computer-based systems are able to interact and exchange information without significant restrictions.3InteroperableAnd SecureInteroperable facility assets and systems are secure.There is a vigilant and resilient security framework to protect the network of interoperable equipment,machinery,and computer-based systems from undesired access and/or disruption.4Real-TimeInteroperable facility assets and systems are secure and capable of real-time communication.Interoperable and secure network links across different equipment,machinery and computer-based systems are able to interact or exchange information as the information is generated with delay.5ScalableInteroperable facility assets and systems are secure,capable of real-time communication,and scalable.Existing networks can be configured quickly and easily to accommodate any modifications made to the existing composition of equipment,machinery and computer-based systems.31The Smart Industry Readiness IndexTechnology Building Block|Intelligence Pillar|Shop Floor Intelligence DimensionShop Floor Intelligence is the processing and analysis of data to optimise existing processes and create new applications,products,and services,within the location where the production and management of goods is carried out.BandDefinitionDescription0NoneOT and IT systems are not in use.No electronic or digital devices are used.1ComputerisedOT and IT systems execute pre-programmed tasks and processes.Equipment,machinery and computer-based systems are able to perform tasks based on pre-programmed logic.2VisibleComputerised OT and IT systems are able to identify deviations.Equipment,machinery and computer-based systems are able to notify operators of deviations from predefined parameters.3DiagnosticComputerised OT and IT systems are able to identify deviations and diagnose potential causes.Equipment,machinery and computer-based systems are able to notify operators of deviations,and provide information on the possible causes.4PredictiveComputerised OT and IT systems are able to diagnose problems and predict future states of assets and systems.Equipment,machinery and computer-based systems are able to predict and notify operators of potential deviations,and provide information on the possible causes.5AdaptiveComputerised OT and IT systems are able to diagnose problems,predict future states and autonomously execute decisions to adapt to changes.Equipment,machinery and computer-based systems are able to predict and diagnose potential deviations,and independently execute decisions to optimise performance and resource efficiency.32Catalysing the transformation of manufacturingTechnology Building Block|Intelligence Pillar|Enterprise Intelligence DimensionEnterprise Intelligence is the processing and analysis of data to optimise existing administrative processes and create new applications,products and services.BandDefinitionDescription0NoneEnterprise systems are not in use.No electronic or digital devices are used.1ComputerisedEnterprise IT systems execute pre-programmed tasks and processes.Enterprise computer-based systems perform tasks based on pre-programmed logic.2VisibleEnterprise IT systems are able to identify deviations.Enterprise computer-based systems are able to notify relevant personnel of deviations from predefined parameters.3DiagnosticEnterprise IT systems are able to identify deviations and diagnose potential causes.Enterprise computer-based systems are able to notify relevant personnel of deviations,and provide information on the possible causes.4PredictiveEnterprise IT systems are able to diagnose problems and predict future states of assets and systems.Enterprise computer-based systems are able to predict and notify relevant personnel of potential deviations,and provide information on the possible causes.5AdaptiveEnterprise IT systems are able to diagnose problems,predict future states,and autonomously execute decisions to adapt to changes.Enterprise computer-based systems are able to predict and diagnose potential deviations,and independently execute decisions to optimise performance and resource efficiency.33The Smart Industry Readiness IndexTechnology Building Block|Intelligence Pillar|Facility Intelligence DimensionFacility Intelligence is the processing and analysis of data to optimise existing processes and create new applications,products and services,within the physical building and premises where the production area is located.BandDefinitionDescription0NoneOT and IT systems are not in use.No electronic or digital devices are used.1ComputerisedOT and IT systems execute pre-programmed tasks and processes.Equipment,machinery and computer-based systems perform tasks based on pre-programmed logic.2VisibleComputerised OT and IT systems are able to identify deviations.Equipment,machinery and computer-based systems are able to notify relevant personnel of deviations from predefined parameters.3DiagnosticComputerised OT and IT systems are able to identify deviations and diagnose potential causes.Equipment,machinery and computer-based systems are able to notify relevant personnel of deviations,and provide information on possible causes.4PredictiveComputerised OT and IT systems are able to diagnose problems and predict future states of assets and systems.Equipment,machinery and computer-based systems are able to predict and notify relevant personnel of potential deviations,and provide information on the possible causes.5AdaptiveComputerised OT and IT systems are able to diagnose problems,predict future states,and autonomously execute decisions to adapt to changes.Equipment,machinery and computer-based systems are able to predict and diagnose potential deviations,and independently execute decisions to optimise performance and resource efficiency.34Catalysing the transformation of manufacturingOrganisation Building Block|Talent Readiness Pillar|Workforce Learning&Development DimensionWorkforce Learning&Development(“L&D”)is a system of processes and programmes that aims to develop the workforces capabilities,skills and competencies to achieve organisational excellence.BandDefinitionDescription0InformalInformal mentorship and apprenticeship are the predominant modes of workforce L&D.There is no formal L&D curriculum to on-board and train the workforce.1StructuredFormally designed training curriculum for skills acquisition is the predominant mode of workforce L&D.There is a formal L&D curriculum with clear commencement and conclusion points.The scope of L&D is limited to skills acquisition.2ContinuousStructured L&D programmes are designed to run on an ongoing basis,to enable the ongoing enhancement and/or expansion of employees skillsets.There is a structured L&D curriculum that adopts an approach of continuous learning,to enable the constant learning,re-learning,and improvement of new and existing skills.3IntegratedContinuous L&D programmes are formally aligned with the organisations business needs and human resources(HR)functions.There is a continuous L&D curriculum that is integrated with organisational objectives,talent attraction,and career development pathways.4AdaptiveIntegrated L&D programmes are actively developed,refreshed and customised based on insights provided by key stakeholders through feedback loops.Formal feedback channels are in place to allow integrated L&D programmes to be jointly curated and updated by employees,HR,and business teams.5Forward-lookingActive efforts are made to identify and incorporate innovative L&D practices and training for future skillsets into the adaptive L&D programmes.There are proactive steps to incorporate requirements for future skillsets and novel L&D methodologies into existing L&D programmes.35The Smart Industry Readiness IndexOrganisation Building Block|Talent Readiness Pillar|Leadership Competency DimensionLeadership Competency refers to the readiness of the management core to leverage the latest trends and technologies for the continued relevance and competitiveness of the organisation.BandDefinitionDescription0UnfamiliarManagement is unfamiliar with the most recent trends and technologies.Management is unacquainted with the latest concepts that can enable the next phase of advancement.1Limited UnderstandingManagement has some awareness,through ad hoc channels,of the most recent trends and technologies.Management is partially familiar with the latest concepts that can enable the next phase of advancement.2InformedManagement is well-informed,through formal channels and avenues,of the most recent trends and technologies.Management is fully familiar with the latest concepts that can enable the next phase of advancement.3Semi-dependentManagement is reliant on external partners to develop initiatives that leverage on the most recent trends and technologies to improve at least one area of the organisation.With external assistance,management is able to apply the latest concepts to enable improvements in at least one area.4IndependentManagement is able to,with relative independence,develop initiatives that leverage on the latest trends and technology to improve more than one area of the organisation.Management is able to apply the latest concepts to enable improvements across multiple areas.5AdaptiveManagement is able to independently adapt its organisational transformation framework to changing trends and technologies.Management is able to augment its improvement initiatives as the latest concepts change or evolve over time.36Catalysing the transformation of manufacturingOrganisation Building Block|Structure&Management Pillar|Inter-and Intra-Company Collaboration DimensionInter-and Intra-Company Collaboration is the process of working together,through cross-functional teams and with external partners,to achieve a shared vision and purpose.BandDefinitionDescription0InformalCommunication and information sharing across teams happens on an informal basis.Teams generally work in silos.Communication and collaborations happen on a casual,ad hoc basis.1CommunicatingFormal channels are established for communication and information sharing across teams.Teams are provided with formal avenues to exchange information.2CooperatingFormal channels are established to allow teams to work together on discrete/one-off tasks and projects.Teams are provided with formal avenues to interact and work on discrete tasks and projects together.3CoordinatingTeams are empowered by the organisation to make adjustments that will facilitate cooperation on discrete tasks and projects.Teams have the mandate to alter or adjust certain obligations and responsibilities,to reduce the barriers for cooperation on joint tasks and projects.4CollaboratingTeams are empowered by the organisation to share resources on both discrete and longer-term tasks and projects.Teams have the mandate to commit resources to both discrete and longer-term tasks and projects.Risks,responsibilities,and rewards are partially shared.5IntegratedFormal channels are established to enable dynamically forming teams to work on cross-functional projects with shared goals,resources and KPIs.Teams can be formed with flexibility and agility to address problem statements as they arise.Risks,responsibilities,and rewards are predominantly shared.37The Smart Industry Readiness IndexOrganisation Building Block|Structure&Management Pillar|Strategy&Governance DimensionStrategy&Governance is the design and execution of a plan of action to achieve a set of long-term goals.It includes identifying priorities,formulating a roadmap,and developing a system of rules,practices and processes to translate a vision into business value.BandDefinitionDescription0NoneTransformation towards a Factory/Plant-of-the-Future is not present in any part of the organisation strategy.Intentions to establish a Factory/Plant-of-the-Future are not identified as a strategic focus in the companys current or future plans.1FormalisationTransformation towards a Factory/Plant-of-the-Future has been formally identified as a business strategy at the corporate or business level.Intentions to establish a Factory/Plant-of-the-Future have been identified as a strategic focus in the companys current or future plans.2DevelopmentTransformation initiative towards a Factory/Plant-of-the-Future is being developed or has been developed by a dedicated team.A long-term strategy and governance model to establish a Factory/Plant-of-the-Future is being developed or has been developed.3ImplementationTransformation initiative towards a Factory/Plant-of-the-Future has been formally implemented in least one functional area.The long-term strategy and governance model to establish a Factory/Plant-of-the-Future has been put into action.4ScalingTransformation initiative towards a Factory/Plant-of-the-Future is expanded to include more than one functional area.The long-term strategy and governance model to establish a Factory/Plant-of-the-Future is scaled up to include other secondary areas.5AdaptiveTransformation initiative towards a Factory/Plant-of-the-Future is refreshed and updated dynamically.The long-term strategy and governance model to establish a Factory/Plant-of-the-Future is constantly reviewed and dynamically refreshed to account for the latest advancements in technology,business philosophy,and practices.38Catalysing the transformation of manufacturingThe Singapore Economic Development Board would like to thank all the organisations and individuals that have contributed to the development of the Smart Industry Readiness Index.These include industrial companies,technology providers,trade associations,institutes of higher learning,research institutions,and government agencies.Special thanks to TV SD,a global testing,inspection,certification and training company,for their role as the project manager and technical advisor.EDB would also like to acknowledge all individuals who have set aside time to provide their thoughts,insights,and suggestions.EDB Core Development Team Lim Kok Kiang,Assistant Managing DirectorFong Pin Fen,DirectorAng Chin Tah,DirectorXu Yinghui,HeadBen Ong,Senior LeadCrystalbel Foo,Senior LeadAdvisory Panel 1.Paul Bonner,Vice President,Honeywell Connected Plant,Honeywell Process Solutions2.Mark Buswell,Head of Advanced Manufacturing Technologies,GlaxoSmithKline3.Roxane Desmicht,Senior Director,Corporate Supply Chain,Infineon Technologies Asia Pacific4.Dr Neil Hastilow,Head of Manufacturing Systems,Rolls-Royce5.Christian Hocken,Managing Partner,Industrie 4.0 Maturity Center,RWTH Aachen6.Patrick Hyett,Head of Immersive Intelligent Manufacturing,GlaxoSmithKline7.Dr-Ing Gunther Kegel,CEO Pepperl Fuchs GmbH&President,VDE8.Raimund Klein,Executive Vice President,Digital Factory&Process Industries&Drives,Siemens 9.Lim Yew Heng,Partner&Managing Director,BCG10.Ling Keok Tong,Director,A*STAR;Science and Engineering Research Council 11.David Low,CEO,Advanced Remanufacturing Technology Centre,A*STAR12.Scott Maguire,Global Engineering Director,Dyson13.Dr Christian Mosch,Project Director,Industrie 4.0 Standardization,VDMA14.Steven Phua,Deputy Director,Standards,SPRING15.Senthil Ramani,Managing Director,IoT Centre of Excellence,Accenture16.Vidya Ramnath,Vice President,Global Plantweb Solution&Services,Emerson Automation Solutions17.Prof Dr-Ing Siegfried Russwurm,Professor,University of Erlangen-Nrnberg18.Dr Lutz Seidenfaden,Head of Competence Centre IT Asia Pacific,Festo AG&Co.KG19.Dr Sun Sumei,Head,Communications&Networks Cluster;Lead Principal Investigator,Industrial IoT Programme,A*STAR,Institute of Infocomm Research(I2R)20.Dr Tan Puay Siew,Deputy Director,Manufacturing Systems Division A*STAR,Singapore Institute of Manufacturing Technologies(SIMTech)21.Yeoh Pit Wee,Director of Operations,Asia Pacific&EMEA,Rockwell AutomationTechnical Advisors&Project ManagersDr Andreas Hauser,Director,Digital Service,TV SDJackie Tan,Senior Consultant,Digital Service,TV SDParticipating Organisations1.Alcon Asian Manufacturing and Logistics Pte Ltd2.Becton Dickinson Medical(S)Pte Ltd3.Chevron Oronite Pte Ltd 4.Eagle Services Asia Pte Ltd5.Feinmetall Singapore Pte Ltd6.Glaxo Wellcome Manufacturing Pte Ltd7.GLOBALFOUNDRIES Singapore Pte Ltd8.Infineon Technologies Asia Pacific Pte Ltd9.JEP Precision Engineering Pte Ltd10.Onn Wah Tech Pte Ltd11.PBA Systems Pte Ltd 12.People Bee Hoon Factory Pte Ltd13.Rockwell Automation Asia Pacific Business Center Pte Ltd14.Rolls-Royce Singapore Pte Ltd15.Shell Jurong Island(Shell Chemicals Seraya Pte Ltd)16.Univac Precision Engineering Pte LtdSupporting Singapore Government AgenciesAgency for Science,Technology&Research(A*STAR)SPRING Singapore(now known as Enterprise Singapore)Acknowledgements39The Smart Industry Readiness IndexReferencesAcatech STUDY,Industrie 4.0 in a Global Context:Strategies for Cooperating with International Partners,Edited by Kagermann,Henning,et al.Munich,Herbert Utz Verlag,2016.Print.Acatech STUDY.Industrie 4.0 Maturity Index:Managing the Digital Transformation of Companies.Edited by Schuh,Gnther.et al.Munich,Herbert Utz Verlag, 27 September 2017.Alicke,Knut,et al.“Supply Chain 4.0 in consumer goods”,McKinsey&Company,6 April 27 September 2017.Ashenbrenner,B.“Industry 4.0:The Making of the Mobile Information Worker”,XploreTech,29 November 27 September 2017.Baur,Cornelius and Wee,Dominik.“Manufacturings next act.”McKinsey&Company,1 June 27 September 2020.Bersin,Josh.Predictions for 2017:Everything is Becoming Digital.Bersin by Deloitte, 27 September 2017.Bledowski,Kris.The Internet of Things:Industrie 4.0 vs.the Industrial Internet.MAPI Foundation,23 July 2015.mapifoundation.org/economic/2015/7/23/the-internet-of-things-industrie-40-vs-the-industrial-internet.Accessed 27 September 2017.Carey,Timothy,et al.(2017).The Industrial Internet of Things,Volume G5:Connectivity Framework,Edited by Didler,Paul.Industrial Internet Consortium,2017.www.iiconsortium.org/pdf/IIC_PUB_G5_V1.0_PB_20170228.pdf.Accessed 27 September 2017.Collaboration Accelerates the Internet of Things and Industry 4.0:Driving Innovation in the Factory by Consolidating Systems with PC-Based Technology,Intel, 27 September 2017.“Collaboration:A Definition.” 27 September 2017.Factory of the Future,International Electrotechnical Commission,2015.www.iec.ch/whitepaper/pdf/iecWP-futurefactory-LR-en.pdf.Accessed 27 September 2017.Feeney,Allison B,et al.“Cyber-Physical Systems Engineering for Manufacturing.”Industrial Internet of Things:Cybermanufacturing Systems,edited by Jeschke,Sabina,et al.1st edition.,Springer GmbH,Heidelberg,2016,81 110.Print.Fernandez,Ivan.Cybersecurity for Industrial Automation&Control Environments:Protection and Prevention Strategies in the Face of Growing Threats,Frost&Sullivan,April 2013.download.schneider- 27 September 2017.Fortschritt im Netzwerk:Die Industrie 4.0-Produktionsanlage von SmartFactoryKL.DFKI/SmartFactoryKL,n.d.smartfactory.de/wp-content/uploads/2017/08/SF_BR_2017_FortschrittImNetzwerk_A4_DE_XS.pdf.Accessed 27 September 2017.Framework for Improving Critical Infrastructure Cybersecurity,Version 1.0.National Institute of Standards and Technology,12 February 2014.www.nist.gov/sites/default/files/documents/cyber-framework/cybersecurity-framework-021214.pdf.Accessed 27 September 2017.Gates,Doug and Bremicker,Michael.Industry 4.0:Its all about the people.KPMG,May 2017.institutes.kpmg.us/content/dam/institutes/en/manufacturing/pdfs/2017/industry-4.0-all-about-people.pdf.Accessed 27 September 2017.Geissbauer,Reinhard.,et al.Industry 4.0 Opportunities and Challenges of the Industrial Internet.PwC,December 2014.www.pwc.nl/en/assets/documents/pwc-industrie-4-0.pdf.Accessed 27 September 2017.German Standardization Roadmap Industry 4.0,Version 2.DIN/DKE,January, 27 September 2017.Gilchrist,Alasdair.Industry 4.0:The Industrial Internet of Thing
2021-02-01
48页
5星级
英国下议院科学技术委员会在2019年10月11日发布了英国商业和娱乐无人机的使用报告。无人机也被称为无人驾驶飞行器，遥控飞行器系统或无人驾驶飞行器系统，一直是媒体关注的焦点。2018年12月在盖特威克机场的无人机事件造成的严重干扰，提醒政府必须加以应对无人机融入社会带来的巨大的机遇和风险。政府应制定一套标准化的制度，让无人机操作员可以按要求进入飞行限制区。政府已宣布计划在2019年底提出一项无人机法案，但还需要做更多的工作，以确保目前的无人机使用者不会受到不公平的惩罚，而违法的无人机使用者将面临严重的惩罚。政府必须确保所有制造商的无人机都有安全设施，比如地理围栏和电子显著性标准。无人机技术正在快速发展，政府需要采取行动，在2020年夏天前发布一份白皮书，概述未来几年无人机将如何融入英国社区。
2021-01-26
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The road ahead:Artificial intelligence and the future of financial servicesCOMMISSIONED BY2The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020Contents3 About the research 4 Executive summary6 Who is leading the race for AI?8 Main benefits11 True measures of success13 A transformational journey14 Overcoming legacy systems and other barriers16 The upskilling revolution18 Conclusion3The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020About the researchThe road ahead:Artificial intelligence and the future of financial services is an Economist Intelligence Unit report,commissioned by ThoughtSpot.The report analyses the results from a survey of 200 business executives and C-suite managers performing both information technology(IT)and non-IT functions at investment and retail banks and insurance companies.The survey examines where and to what degree artificial intelligence(AI)technologies are being adopted within the financial services industry,how these institutions measure its success and what challenges remain to be overcome.Through our survey and in-depth interviews with leading experts we sought to determine how these changes will shape the financial services industry in the coming years.Our thanks are due to the following individuals for their time and insight:Cary Krosinsky,lecturer,sustainable finance,Yale School of Management Kerry Peacock,chief of operations EMEA and international head of operations,MUFG Bank(London Branch)Alaa Saeed,managing director and global head,Institutional eSales and Client eCom Products,Citibank(London Branch)This report was authored by Dewi John and edited by Katya Kocourek.4The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020Executive summaryThe financial services industry has long been an early adopter of technology.The telegraph system was still a novel idea when Western Union began using it for money transfers in the mid-19th century.Online banking emerged in the mid-1990s,half a decade after the internet and well before most people had an email account.This revolution in technology has gone from gathering data to connecting people.The next stage will be providing valuable interpretations of that data for those,now networked,people.As artificial intelligence(AI)is increasingly considered the new engine of growth in the modern age,different financial sectorsinvestment banks,retail banks and insurershave been incorporating it into their systems with varying degrees of success.These trends are surveyed and analysed here as well as the ways in which AI is being used.Key findings of the study are:Investment banks emerge from the survey as trendsetters.In terms of AI adoption,investment banks are followed by their retail peers.Insurers trail behind,probably because there are fewer and simpler products in this sector.Due to their size,banks inevitably grapple with a number of complex,large-scale challenges.The implementation of innovative tech can offer invaluable solutions to these problems,with AI often at the forefront of these changes.From a regional perspective Asia Pacific(APAC)heads the pack.Almost 61%of all APAC respondents reported that half or more of their workload is supported by AI.This far outstretches North America and Europe(both at 41%).A wide range of AI technologies have been implemented by banks and insurers alike.Virtual assistants,machine learning and predictive analytics are most widely utilised among those in the“heavy adopter”category,with natural language processing just behind.Again investment banks are the trailblazers,except with predictive analytics where retail banks have a clear lead.5The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020 Customer and stakeholder satisfaction were the main measures of AI success.Beyond this,respondents also point to reduction in operating costs and increased return on investment as important factors.However,almost 10%of European respondents either had no metrics to measure AI-application success,or had not been measuring it for long enough to provide insightful reports.By way of contrast,all APAC respondents had functional reporting metrics.The transformative nature of these technologies will be profound.For example,manual tasks that were predominantly offshored in recent decades are now being automated.This will lead to a streamlining of workforces,with those remaining being increasingly skilled and performing higher-value functions.While there is a broad acknowledgement that this will necessitate relevant employee training and company-wide cultural shifts,the degree to which this has already taken place varies:once again APAC leads the field regionally while investment banks are most advanced in their implementation of training schemes.The largest perceived barrier to wider adoption of AI is cost.Insufficient infrastructure and poor data quality follow as priority areas of concern.Industry experts see this cost as a potential catalyst for consolidation as the larger incumbents benefit from scale when it comes to reaping the primary benefits of AI.6The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020Artificial intelligence(AI)technologies are prevalent across investment and retail banking and insurance globally.There are,however,distinct differences at the sector and industry levels.In order to gauge the effect AI is already having among those making most use of it,the survey looks at the specific technologies being used by“heavy adopters”(those who indicated that 50%-plus of their individual workload is supported by AI)as opposed to“light adopters”(whose individual workloads are less than 50%supported by AI).Within the category of heavy adopters,virtual assistants,machine learning(ML)and predictive analytics are making the running followed by natural language processing(NLP)and image analysis.Who is leading the race for AI?What AI applications are used by your organisation at present?(%of respondents)*Figure 1:AI most in use Predictive analyticsMachine learningVirtual assistants(e.g.chatbots)Natural language processingImage analysisRobotic process automation354539394452424652 523346615850565563575871605462RetailInvestment banking InsuranceTotal7060504030201007The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020Investment banks are taking the lead in implementation of most AI applications,including NLP and ML,while retail banking has the edge in predictive analytics(71option),which reflects the significant usage of data science tools in customer retention.However,insurance lagged in all fields.A recurring theme throughout the research,this is probably due to the fewer and relatively simpler products in the insurance industry compared with the banking sector.Overall,larger organisations(with 5,000 employees)have higher AI penetration than their smaller counterparts(54%and 49%respectively),which mainly reflects the level of investment available to big firms for a multitude of AI technologies.This puts the larger firms in a good position to deal with the burden of overcoming legacy systems.Of the heavy adopters,the main perceived benefit of AI for around 40%is increased employee capacity to handle volume of general work.In stark contrast,light adopters do not consider this a main benefit(at just 27%).It appears that in order to reap this benefit there is a hurdle of a certain level of investment that is simply unattainable for many light adopters.of organisations in APAC are significantly more likely than others to be heavy adopters of AI61%8The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020Which of the following are the most significant benefits that your organisation has experienced or expects to experience as a result of the adoption and use of AI?Select up to three.(%of respondents)*Figure 2:Top benefits*The above chart includes respondent answers in the five strongest categories for this particular question.Source:The Economist Intelligence UnitReduced operational costs(eg,new software,automation of repetitive tasks,outsourcing)Greater use of predictive analytics(eg,for data-driven decisions)Increased employee capacity to handle volumeEnhanced customer personalised service and customer satisfactionReduced employee workloadsAPACEuropeNorth AmericaTotal0510152025303540454430253126353632303039333633313444323437The benefits of AI are many and often vary between sectors and regions.Overall,companies see AI as an important lever to innovate,launch new products and services and enter new markets.In the survey round,lower operational costs emerged as the top benefit of AI,as cited by 37%of respondents.Around a third said the same about facilitating data-driven decisions through greater use of predictive analytics and increasing employee capacity to handle larger volumes of work.Regarding such capacity benefits,Cary Krosinsky,a sustainable finance lecturer at the Yale School of Management,says this is,in effect,using new tools to achieve an old objective:“what the industry has always attempted to domaximise returns”.Some 36%of heavy adopters also saw more efficient product and marketing services as a significant benefit,a view shared by just 23%of light adopters.This is probably because these benefits derive from market monitoring that can only come into effect when more“core”AI systems are in place for companies.Main benefits 9The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020Improved risk management,such as fraud prevention,was the main perceived benefit for APAC respondents(46%),while reduced operational costs and reduced employee workloads were the other two predominant perceived benefits(44%).Its possible that these two factors tie in with the fact that APAC is the location of many employee-heavy service centres where these technologies are already having an impact.For Alaa Saeed,MD and global head of institutional eSales and Client eCom products at Citibank in London,the benefit of the AI technologies underpinning many of these developments“is huge because it standardises things”.Such standardisation in areas such as NLP and ML can be followed by better controls,governance and efficiencies of scale.This is a“relatively new scenario,”he says,made possible by software platforms integrating chatbots and automating ever-more complex requests that were previously resource-and people-intensive.In addition,these technologies could lead to a much-needed shaking out of financial services,reckons Mr Krosinsky.“Large operations such as JP Morgan have the advantage that they can invest heavily to reap the benefits.Smaller operations that dont have the scale face an increased risk of going to the wall.Arguably,large operations should be larger,leaving niche players to service more specialised needs.”He speculates that second-tier firms may make easier merger and acquisition(M&A)targets,leading to further consolidation across the financial services sector.While similar proportions of heavy and light adopters selected enhanced customer service as a benefit of AI implementation,varying proportions(66%of heavy adopters and 43%of light adopters)selected customer/stakeholder satisfaction as a measurement of success.North Americans have the greatest ambitions here with 33lieving AI will change how they innovate and 31%saying that it will allow them to release new products and services.Those figures are lower for APAC and Europe(see Figure 3).Despite this,respondents from APAC and North America see the greatest opportunity to enter new markets(at 30%and 27%respectively).This reflects the higher rates of economic growth in both regions overall compared with the rest of the world as well as the level of AI investment from individual firms to support business growth.Arguably,large operations should be larger,leaving niche players to service more specialised needs.”Cary Krosinsky,lecturer,sustainable finance,Yale School of Management 10The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020In what ways do you think AI is most likely to significantly change your business in the next five years?Select up to three.(%of respondents)*Figure 3:How will AI change business?*The above chart includes respondent answers in the six strongest categories for this particular question.Source:The Economist Intelligence UnitLower our cost baseIncrease need for high-value technology skillsLead us to develop new products and servicesAllow us to enter into new markets or industriesChange how we innovateIncrease exposure to technology-related regulationAPACEuropeNorth AmericaTotal051015202530354045383828344121333123243127301927251622332525272025Despite their lower overall commitment,its the insurers who predict the greatest impact of AI32%expect to see a significant impact on both their product shelf and manner of innovation over the next five years.Only about a quarter of bankers share this view.This may be because insurers lower commitment thus far allows for a greater base effect,with a similarly notable effect on the narrower product shelf they have in comparison to investment and retail banks.11The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020While most respondents and experts agree that gauging the success of AI applications is important for business strategy,there are diverse views regarding the most reliable metrics.Customer and stakeholder satisfaction were the prime measures of AI success,much more so for APAC respondents(66%)than those in Europe(41%).The discrepancy is largely attributable to the fact that 6%of European respondents say metrics had not been in use for long enough to make an assessment,while 3%had no established metrics whatsoever.This contrasts with the view from APAC where the figures were zero in each caseall APAC respondents have workable metrics in place.True measures of success 010203040506070How does your organisation measure the success of its AI applications?(%of respondents)Figure 4:Key metricsSource:The Economist Intelligence UnitCustomer and/or stakeholder satisfactionReduction in operational costsAchieving expected return on investment(ROI)Contribution to strategic goalsLower instances of fraud and other financial crimesAPACEuropeNorth AmericaTotal464333394935484556375350624848526641555512The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020Mr Saeed notes the importance of customer satisfaction to gauge success,especially in the areas of NLP and ML where there is significant client demand for services such as automated chats and request for quotes(RFQs),both of which rely on such technologies.While this may carry“a franchise risk of inadvertently responding incorrectly to your client or a group of clients,”Mr Saeed says,“its less of a high risk than a market impact risk”.But he explains that“the framework for customer service and chats is becoming more robust”.Reduction in operational cost was the second key metric,followed by the impact on the expected return on investment(ROI).These factors scored significantly across all three sectors,but especially so for retail banking.The impact on ROI was deemed particularly significant in APAC(56%),closely followed by North America(53%)and in contrast to just 37%of European respondents.APAC respondents also report a reduction in operating costs as the second most important factor(62%).Regardless of the sector,however,these three measures comprised the top three metrics.Franchise risk is less of a high risk than a market impact risk.”Alaa Saeed,managing director and global head,Institutional eSales and Client eCom Products,Citibank(London)13The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020The impact of these technologies on how financial companies are structured will be profound.Kerry Peacock,EMEA chief of operations and international head of operations at MUFG in London,highlights one effect on the hitherto ubiquitous call centre,shedding light on why retail banks are leading in virtual assistants.“If you go back even as recently as five years,for heavily manual functions that are repetitive and process driven you would look to a low-cost geography such as India to perform those tasks.That was yesterdays strategy.Today and tomorrow,you move to a digitised workforce and build robots.”Mr Krosinsky agrees that a major impact of these changes will be to“do away with many traditional jobs”in a way that could extend well beyond offshorable manual jobs.This could be transformative for those cities with high levels of dependence on financial services,such as London and New York.He believes that in five years there will be far fewer financial services jobs“and one knock-on effect could be that this will depress real estate prices in these cities”.Greater adoption of AI will nevertheless be gradual,particularly in the banking sector.“Ive started to introduce robots into my operation,”says Mr Peacock.“In doing that,you have to overcome whats called automation anxiety;the robots are going to take my job type of fear.”As such,introducing robots into the workplace is“something that has to be done very carefully,”he says.Similarly,Mr Krosinsky believes that its not simply a question of job replacement.In some areas AI will“supplement and enhance actual people”.In this respect,everything leads back to people:taking the strain off them,or at the very least allowing them to do more with the same workload.A transformational journey Today and tomorrow,you move to a digitised workforce and build robots.”Kerry Peacock,EMEA chief of operations and international head of operations,MUFG(London)14The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020For those organisations that currently use AI the main barrier to wider adoption is the cost of technology(39%),which comfortably tops insufficient infrastructure and poor data quality as the primary areas of concern(though lack of infrastructure is also fundamentally a cost constraint).In a bid to meet this challenge,86%of respondents plan to increase AI-related investment into technology over the next five years,with the strongest views expressed in APAC(90%)and North America(89%).Investment into AI technologies could help resolve issues of legacy systems that have proved,along with systemic upgrades,a costly albatross around the necks of financial services business.Overcoming legacy systems and other barriers051015202530354045What do you believe are the main barriers to the wider adoption or use of AI within your organisation?(%of respondents)Figure 5:Main barriers Source:The Economist Intelligence UnitCost of technologyInsufcient infrastructure to accommodate new AI technologiesInsufcient data quality to test and validate AI outcomesLack of appropriately skilled stafLack of awareness of AI use cases among senior managementAPACEuropeNorth AmericaTotal252423232829202744222328312531294635333915The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020AI may offer an alternative to such frequent replacement of big and hugely expensive core legacy systems that are deeply embedded into companies,argues Mr Peacock.“You can put new technologies around the legacy systems which means you dont need to necessarily change that core system.”This should allow businesses to be“more nimble around those core technologies,”he explains.In terms of AI-related spending,our survey reveals broad agreement that significant commitment will be required across all sectors.Respondents from the insurance sector report AI investment levels that may fuel a catch up:almost two-thirds of insurers are targeting an increased spend of up to 30%in this area.However,insurers lag behind on intention to increase training commensurately:only 29%expect to up spending significantly over the next five years compared with 43%of investment banks and 38%of their retail peers.There is also an issue of scale and depth of pocket.Only one third of larger firms(5,000 )saw the cost of technology as a major barrier to the adoption or use of AI.16The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020Training and reskilling will be vital for financial services firms to implement innovative products and services in the future.In terms of AI specifically,the workforce will require different and more complex skills as time progresses.This is recognised by respondents and experts whose focus is not only on how AI changes the quantitative nature of what employees will be doing but also the qualitative aspects of their job:in short,upskilling.“There is an expertise and staffing that you have to build,”says Mr Saeed.“But were seeing the skillsets of our people change.And so our people are becoming more technical,more quantitative.And our technology team and front office team are getting closer and closer aligned.”The importance of technological skills is emphasised by our survey respondents.The level of value-add to the business assumes a greater degree of investment into technological infrastructure that should make AI applications more compatible with existing systems.Europe was marginally ahead of APAC in asserting the need for retraining,but 11 percentage points behind when asked if such training had been implemented(APAC:54%vs Europe:43%).This may simply reflect the fact that Asia increasingly leads the field in technology,as Mr Krosinsky notes.“With Asia heading to become half the worlds economy,a lot of these developments will happen there.Within Asia,given that Hong Kong is now less attractive as a financial centre,Singapore has a massive opportunity to take the lead,although this is something that China might sensibly resist.”The upskilling revolution01020304050To what extent has your organisation implemented or is planning to implement a technical training scheme for employees to improve understanding and use of AI(%of respondents)Figure 6:View to the futuretraining to accelerate implementation of AISource:The Economist Intelligence UnitTotalAPACEuropeNorth AmericaAlready implementedPlanning to implement494254444349394117The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020Source:The Economist Intelligence UnitInvestment banks are most advanced in the implementation of training schemes54%of respondents say they have already been implemented compared with 46%in insurance and 48%at retail banks.This probably explains why only 17%of all respondents see a lack of specialised training as a risk to AI adoption.“Increasingly,were running computer science or coding training courses for our folks,”says Mr Saeed.“Theres a ton of investment into this space which tells you what we think about,where were going and the benefit of this.”Clearly,a sea-change in reskilling will necessitate greater investment in people.Diverging regional views were also seen in the expectations of technology training between respondents performing an IT function and those performing other roles.Whereas 33%of the former and 29%of the latter see an increasing need for high-value technology skills(broadly the same),only 17%of tech-focused respondents see this as resulting in retraining and reskilling as opposed to 30%of non-tech respondents.Overall,76%of respondents agree that the board and senior management have a good understanding of the opportunities and challenges that AI poses to their organisation.18The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020AI is at the forefront of a major shift within the financial services industry,but periods of rapid change are not without their risks.There is nevertheless an awareness of the risks associated with AI technologies within businesses,and in some cases there are clear strategies to navigate them.However,coming to terms with some of thesenotably the technological and associated regulatory risksmay yet take a while.This is especially pertinent for banks whose business has not fundamentally changed and is unlikely to do so in future.“If we look at the business,if you look at the products that we generate as financial institutions,they havent changed,”Mr Peacock explains.“Coming back to basics,you can either buy or sell,borrow or lend.Thats literally all you can do.Its as simple as that.”Businesses that are able to get ahead of the curve in AI adoption appear to be those carrying less technological baggage,making legacy systems simpler to deal with.The benefits of greater AI adoption are widely recognised across the financial services industry,including reduced cost base and better predictive analytics.Such innovation,and its costs,will inevitably drive consolidation.And,ultimately,the focus on customer satisfaction as a crucial measure of success will drive more optimal market outcomes.Conclusion051015202530354045In your opinion,what are the principal industry risks of AI adoption?(%of respondents)Figure 7:Principal risksSource:The Economist Intelligence UnitSecurity considerationsTechnology riskAmount of investment requiredRegulatory challengesMaturity of technology (eg,legacy systems)APACEuropeNorth AmericaTotal251820211632232228253026331834293841454019The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020While every effort has been taken to verify the accuracy of this information,The Economist Intelligence Unit Ltd.cannot accept any responsibility or liability for reliance by any person on this report or any of the information,opinions or conclusions set out in this report.The findings and views expressed in the report do not necessarily reflect the views of the sponsor.20The road ahead:Artificial intelligence and the future of financial services The Economist Intelligence Unit Limited 2020LONDON20 Cabot SquareLondon,E14 4QWUnited KingdomTel:(44.20)7576 8000Fax:(44.20)7576 8500Email:NEW YORK750 Third Avenue5th FloorNew York,NY 10017United StatesTel:(1.212)554 0600Fax:(1.212)586 1181/2 Email:HONG KONG1301 Cityplaza Four12 Taikoo Wan RoadTaikoo ShingHong KongTel:(852)2585 3888Fax:(852)2802 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