Deputy head of Industry Department under the Ministry of Industry and Trade Nguyen Ngoc Thanh made the remarks at a seminar on the automobile industry in the era of industry 4.0 as part of the Vietnam Motor Show 2018, held recently in Ho Chi Minh City. With technological advantages, a skilled workforce and low production costs, a number of countries such as Thailand, Indonesia or China are poised to reap success in the Vietnamese automobile market with the signed free trade agreements (FTAs) between Vietnam and regional countries, Mr Thanh urged Vietnam’s automobile industry to devise practical solutions for further development in the future and to seize opportunities in order to overcome challenges faced from the development of regional neighbours. According to statistics from the Ministry of Industry and Trade, Vietnam’s automobile industry has lagged 30 years behind other regional nations. Whilst Thailand, Indonesia, Malaysia have all been able to develop their … [Read more...] about Bright prospects for automobile sector in Industry 4.0 era
Industry 4 0
Data collection the “key” to unlocking Industry 4.0
Businesses all around the world are acknowledging the trends of the Fourth Industrial Revolution. In particular, data is a major factor for the development of the Industrial Internet of Things - creating strong breakthroughs in both manufacturing and business. In production, the need for collecting data from discrete machines and delivering it to a centralised area becomes more essential, thereby boosting the efficiency of monitoring, management, and decision-making. Connect discrete machines into factory network for automatic data collection Data is the key, so how best to collect it to take advantage of the technology breakthroughs in Industry 4.0? THE BENEFITS OF AUTOMATIC DATA COLLECTION Thanks to communication networks, machines and users are “communicating” with each other through the collected data. Users can easily look up the operating history of the machine; review the problems with sufficient information to find the optimal remedies; or to retrieve and … [Read more...] about Data collection the “key” to unlocking Industry 4.0
PwC releases key findings from Industry 4.0 Vietnam Survey 2018
In a move to help articulate the perceived impacts of Industry 4.0 as well as highlight the challenges faced by Vietnam, PwC has just released the key findings of its Industry 4.0 Vietnam Survey 2018. Overall, respondents to PwC’s survey anticipate that the fast-approaching Industry 4.0 will bring significant benefits, such as higher efficiency of operations as well as improved access to customers brought on by digitisation and automation. They are positive about Industry 4.0, despite a lot of uncertainty in terms of the exact impacts. Due to the different level of market maturity, this journey brings unique challenges to Vietnam compared to global peers. Vietnamese respondents are most concerned about the lack of digital standards, insufficient skills in local talent, and data privacy and security. In particular, there is a limited understanding of the specific skills, knowledge, and capabilities required to make digital integration a reality in Vietnam. PwC’s … [Read more...] about PwC releases key findings from Industry 4.0 Vietnam Survey 2018
Metalex Vietnam 2018 dashes towards Industry 4.0
Metalex Vietnam, the international exhibition on machinery and supporting industries, returns this year with a new focus on Industry 4.0. Representatives at the opening ceremony of Metalex Vietnam 2018 The exhibition, organised every year by Reed Tradex, opened its 2018 edition at the Saigon Exhibition and Convention Centre this morning. The event includes two other exhibitions named Nepcon Vietnam and The Supporting Industry Show, with support from the Japan External Trade Organisation in Ho Chi Minh City, the Ho Chi Minh City Centre of Supporting Industry Development and the Ho Chi Minh City Centre for Trade Promotion and Investment. This year, Metalex Vietnam expects to draw in 10,000 buyers and 500 leading machinery brands from around the world, including Hoffman, Hexagon, Takamaz, Weldcom, Showa Denki, and Seilo. There are also five international booths representing Germany, Japan, China, Singapore, and Taiwan. To keep up with the fast-changing world of digital … [Read more...] about Metalex Vietnam 2018 dashes towards Industry 4.0
Corporate culture in Industry 4.0: key element for success
Companies stand to gain a lot from developing good corporate culture. Gian Tu Trung addressing the conference At the Forum on Corporate Culture in Industry 4.0 held on October 3 by the Vietnam Chamber of Commerce and Industry (VCCI), Deloitte Vietnam, and Hanoi Association for Women Entrepreneurs (HNEW), Gian Tu Trung, principal of the Pacific-Asian Center for Entrepreneurship (PACE) College and director of IRED Institute of Education, confirmed that the people earning the most money in Vietnam and over the world rely largely on the values of culture and ethics. Unless a corporation develops its cultural foundations, its earning will remain limited and unsustainable. Indeed, due to the pressure of competition, many companies have forgotten to develop or maintain a corporate culture. Gian Tu Trung outlined four reasons for this failure, including a lack of awareness of culture and its role in the sustainable development of corporations; a lack of vision of corporate culture; a … [Read more...] about Corporate culture in Industry 4.0: key element for success