Manufacturers are not fully aware of the possibilities and benefits that the Internet of Things (IoT) can offer. According to a report by consulting firm Sikich, 30 percent of manufacturers fail to understand the IoT at all. However, their lack of understanding has not prevented them from making the Internet of Things a priority in the future.
What can I do to reduce my maintenance costs?
Rather than waiting to repair equipment until it breaks, manufacturers can leverage IoT insights to detect potential problems long before they appear. Manufacturers who take this data into account will reduce the uptime while avoiding more serious and therefore more costly repairs. According to McKinsey research, data-driven predictive maintenance not only increases equipment longevity, but also reduces downtime by up to 50%.
What is the goal of increasing efficiency and decision making?
Manufacturers using IoT technology to prepare in advance are likely to improve their efficiency. Rather than relying on manufacturing to be running according to plan, producers can employ connected equipment to receive a real-time view of what is happening. Manufacturers can use this quick access to machine data to reallocate people and resources as required.
The increased connection of IoT makes it possible to track tools and other critical components of the manufacturing process in real time. Investing time in more essential matters such as improving product quality or increasing efficiency.
Automation techniques like robots can help provide the data needed to improve production processes, similar to how connected equipment sets the stage for better efficiency. Robots with sensors will be able to collect data about themselves and their environment, ensuring that any anomaly or possibility of process improvement is transmitted to manufacturers through the Internet of Things.
What can I do to encourage group collaboration?
In-house information technology (IT) and operational technology (OT) expertise must be aligned if manufacturers want to optimize the impact of the Internet of Things. However, less than half of all manufacturers say their IT and OT teams have collaborated on challenges such as upgrading from legacy operating systems.
While most manufacturers are on board with taking a better look at IoT technologies, there is still some mystery surrounding the potential benefits. Before implementation, manufacturers should focus on some areas where the IoT will create its greatest impact.
From increased decision making to increased efficiency, identifying the IoT price proposition will clear up the confusion and open the doors to a path to connectivity.
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