Without the power and energy management, there is no Industry 4.0. Always we need a cost-effective digital manufacturing solution for keeping the factories and supply chain running smoothly. The development of Industry 4.0 provides increased amount of overall energy efficiency, critical power availability, specific power, and reliability. This research creates a road map to improve the efficiency of the industry. When compared with iron, steel, fertilizer, textile, cement, paper, aluminum, petrochemical, and refineries, the sugar industry has high potential of energy saving that is above 25%. Also, the sugar industry is a co-generation plant. It can be treated as a miniature power station and able to monitor, test, and apply energy conservation techniques on both supply side as well as load side at an instant. The main objective of this research is to analyze the efficient usage of energy through the reduction of electric losses thereby improving energy efficiency. To achieve this, the energy conservation techniques particularly on short-term policies because it requires less investment and short payback period. This paper includes energy saving techniques on the transformer side, feeder side, and load side. Even saving a single unit per year at an industry leads to saving huge amounts of energy cost. So, the energy management in this research will be a greater milestone in Industry 4.0. This research will be a greater revolution, and it will play a major role in Industry 4.0. Also, this research includes a voltage optimization technique using BF-PSO for the dynamically varying load at the industry has been implemented.