Baltic Management Institute visits THM Business School for Innovation and Industrie 4.0 Conference

From October 10^th to 12^th the THM Business School hosted the 4^th annual conference on Industrie 4.0 for our partner the Baltic Management Institute. 16 Participants from Vilnius met in Frankfurt to listen to the latest developments in this very dynamic field of innovation. Prof. Hayo Reimers opened up the conference with an insightful macroeconomic outlook on the German and European economy followed by Prof. Nils Madeja who analyzed the Innovation Environment in Germany which is fueled by the Digitalization. New business models are challenging existing businesses and their revenue streams. With real business cases he highlighted the need for transformation for many traditional German businesses. They have to refocus innovation on business models and systems rather than single products. Finally, Prof. Gerrit Sames presented the latest technology and systems for the Industrie 4.0 revolution. According to him whole business streams need to be looked at in order to successfully implement digital tools. Hereby the developed system will only be as strong as its weakest part. He criticizes that many businesses are still thinking too much in isolated solutions.

Participants also had the opportunity to visit German businesses to study the implementation of Innovation and Industrie 4.0 at varying stages and forms. At Heraeus GmbH, Hanau the guests saw how the company drives digital innovation such as integrating the “Internet of Things” in existing business and production processes. This is done with help of interdisciplinary innovation teams. A live production utilizing Industrie 4.0 standards and work flow was show cased at Keba + LTI GmbH in Lahnau. Finally, the participants could study the digital transformation process for a large traditional production location of Bosch Thermotechnik in Lollar.

Altogether, the conference provided a deep look at current developments regarding digital transformation and implementation challenges for German businesses. It also provided good networking opportunities for all who took part. We would also like to thank MBA Alumni Damian Gornik from Heraeus to organize the very interesting visit at his company.

// Jan Freidank | October 2019