Connect products, facilities and people with IoT
The phrase internet of things or IoT is thrown around a great deal at the moment but what does it really mean? Most of us either are being or will be affected by IoT in some form or another. In 2018 there were approximately 7 billion IoT connected devices by 2025 it is predicted that there will be 75 billion IoT connected devices.
The internet of things in an environment where you are harnessing data from numerous product sensors such as vibration, proximity, sound etc. or data sources such as CRM, ERP, PLM, Manufacturing etc.
In other words, any digital data from any data source can be brought together into a bespoke dashboard where you can manage and automate this Internet of Things. It acts as the conductor of an orchestra, ensuring all devices are working in harmony, collecting and distributing data as well as storing and analyzing it to diagnose possible problems.
IoT and Digital Transformation
Companies are leveraging the IoT to digitally transform their business and the results are impressive. But many struggle to choose a place to begin, but one proven way to get started is by remotely monitoring machines. This initiative allows manufacturers to quickly achieve IoT value while paving the way for even more substantial benefits over time. The most common way that companies gain tangible ROI from IoT is through improved service. The IoT lets companies transform service to generate more – and more profitable – service revenue. They do this by moving from reactive to proactive to predictive service and leveraging advanced technologies like AI, machine learning, and big data analytics. They can also adopt new service delivery processes like remote service. But the most common first step in reducing the cost of service is through remote monitoring.
Smart Manufacturing in IoT
Another area is Smart Manufacturing which allows factory managers to automatically collect and analyze data to make better-informed decisions and optimize production.
IoT technology – utilizing both wired and wireless connectivity – enables this flow of data and provides the ability to monitor and manage processes remotely and change production plans quickly, in real-time when needed.
It dramatically improves manufacturing outcomes, reducing waste, speeding production, and improving yield and the quality of goods produced.
This creates an open, flatter, fully interconnected model that links R&D processes with supply chain management and has many benefits. Including optimizing manufacturing processes related to performance, quality, cost, and resource management.
In this scenario, the manufactured products themselves play a vital role in the manufacturing process’s development and design as connected smart products can feed information back to the factory so that quality issues can be detected and fixed during the manufacturing stage by adjusting product design or the manufacturing processes.
It’s also great for collecting feedback from consumers. Smart products can also provide insights into how consumers use them. It’s an excellent opportunity to adapt features to better meet the real needs of the marketplace.
Contact a digital expert to find out how IoT can help your business through digital transformation.