Technologies based on the Internet of Things (IoT) have the capability to radically advance discernibility in manufacturing where each unit of production can be viewed at each step in the production process.
As global market and industry dynamics push manufacturers to rethink their manufacturing operations, factory management is vital. Smart manufacturing uses IoT-driven data analytics to improve asset utilization.
The following drivers will influence how manufacturers invest in IoT:
• Dynamic value chains: Manufacturers handle coinciding value chains, with constant change, as they seek new opportunities around the globe.
• Incipient market growth: Manufacturers endure to redesign supply chains and product strategies to support incipient market growth sourced from and manufactured in incipient regions and local markets.
• Arduous customers: Manufacturers are consolidating business cycles to meet customers’ intensifying necessities for personalized products and higher levels of service.
• Omnipresent connectivity: Connectivity is omnipresent and the communication infrastructure will keep up with the growing connectivity needs.
Business Insider’s 2017 report on the Internet of Things finds how the IoT impacts a wide array of industries, including manufacturing, technology, and finance.
The IoT will make Manufacturing Smarter
Smart manufacturing is about creating an environment where information is captured in real time and turned into actionable instincts. Smart manufacturing enables virtual tracking of capital assets, processes, resources and products. Smart manufacturing gives enterprises full visibility which in turn streamlines business processes and optimizes supply and demand.
In core, smart manufacturing leads to an administrative environment. Smart manufacturing turns businesses into pre-emptive organizations that forecast and fix potentially disruptive issues and delight customers, all while positively impacting the bottom line.
Smart manufacturing uses a healthy dose of technology to ensure machines work together, material flows noticeably in real time, and teams of knowledgeable workers manage the entire process. IoT makes this possible. With IoT, manufacturers can give each physical asset a digital identity that lets them track the exact location and condition of each asset in real time.
The major benefits of manufacturing that uses IoT are:
• Increased dependability and quality of the manufacturing process through ongoing access to operational intelligence.
• Guaranteed alignment of shop-floor decisions and corporate-level objectives, whether the primary focus is lowering costs, improving customer service, or increasing revenue.
In manufacturing, the potential for cyber-physical systems to enhance efficiency in the production process and the supply chain is huge. Consider processes that administer themselves, where smart products can take remedial action to prevent damages and where individual parts are refilled consequentially. Smart manufacturing offers nearly infinite potential, and it all begins with establishing an IoT connected system as the foundation for achieving greater connectivity and information sharing.
Transforming Manufacturing with the IoT
Manufacturers are progressively adding software, sensors and wireless connectivity to their products, delivering a foundation for the IoT. IoT is quickly becoming a reality: Sukamal Banerjee, executive vice president and global head, IoT Works and HCL Technologies says, “2017 will see a fundamental shift in terms of industrial IoT adoption. Our 2016 global IoT survey shows that 38% of organizations have already started their IoT journey and 57% are currently planning to start their IoT journey, making 2017 an inflection year for Industrial IoT adoption. 2017 will see a significant increase in investment in IoT by industrial organizations.”
Manufacturers have to work with software providers to bring together all the components and create a strategy for moving forward to make sure they can take full advantage of the efficiencies and new business opportunities IoT provide.
Any journey into emerging IoT connected systems should commence with a thorough evaluation. With an eye on the manufacturer’s present and future states, the evaluation should encompass the analysis of organization’s network infrastructure, data and reporting capabilities, manufacturing environment, and security policies. Eventually, this will help identify what can be upgraded and what needs replacing.