In recent years, we’ve seen a noticeable shift across multiple sectors to a digital-first approach to doing business. The advancement and development of new technology has shown first-hand how organizations have found fresh, innovative ways of staying competitive – and none more so than in the manufacturing industry.
Greater demand for custom products, rapidly rising customer expectations and an increasingly complex global supply chain has led manufacturers in particular to seek out new ways of boosting productivity and optimizing operations. The Internet of Things (IoT) is the mechanism by which they succeed in doing so.
When applied to manufacturing, The Industrial Internet of Things (IIoT) has made the lives of manufacturers significantly simpler. By employing a network of sensors to collect critical production data, IoT is able to turn this information into valuable insights about the efficiency of manufacturing operations.
Facilitating production flows, identifying bottlenecks, managing inventory, monitoring development cycles and so much more, IoT adds tremendous value to manufacturing operations through smart devices and constant communication.
Perhaps that’s why more than 86% of manufacturers have already adopted IIoT solutions, with the technology itself expected to generate more than $3 trillion of economic value annually by 2025.
When considering implementing an IoT project for your business, it’s normal to consider if it’s likely to provide a real, measurable competitive advantage. We’re here to tell you that yes, it most certainly will. Here’s a taster of how…
IoT technology helps you deliver your products to your clients quickly by proactively reducing equipment failure and increasing employee wrench time. Smart sensors are able to notify production teams about issues with machinery in real-time so they can be solved with the least amount of friction. More efficient supply chain ops like this reduce your product cycle time and contribute to long-term success.
When you optimize your manufacturing operations through the use of IoT technology, your business is able to reduce operational costs and create new sources of revenue. As a result of optimized inventory management, reduced machine downtime and improved energy usage, you can make your operations considerably more agile in a way that drives long-term performance improvements.
With the implementation of IoT technology, your workplace becomes safer. Through IoT-enabled sensors, devices and wearables, employees can be constantly aware of any potential hazards in the working environment, as well as receive up-to-the-minute information around specific safety zones or mobile machine locations. Fewer accidents means fewer stops and unnecessary production delays.