No introduction is needed for IoT nowadays. When the IOT applications are made into manufacturing and industrial spaces, then it is called as Industrial IoT. This technology brings together different techniques such as machine learning, big data, sensor data, M2M communication, and automation, which have existed for many years in the industrial context.
With technological advances such as AI, IoT and robotics, manufacturing is experiencing the 4th industrial revolution. It was estimated that by 2020, global manufacturers are expected to invest $70 billion in IoT solutions.
The implementation of IoT devices in the manufacturing industry is for the sophisticated data analytics, leverage predictive maintenance, for improving the availability, productivity and adding value to the business.
It is very much important for the businesses to understand the transformation from traditional to dynamic way of working with the help of IoT. This is because it is estimated that smart devices are expected to reach 31 billion by 2020 and 75 billion by 2025. By utilizing IoT, challenges of the supply chain management and manufacturing are to be minimized with IoT sensors.
Here is the list of IoT applications into manufacturing:
With the help of communication improvement by IoT, the manufacturing process is to be optimized. For transforming digital production efficiency, Microsoft is joining its forces with BMW groups for an IoT manufacturing platform. It is very clear that everyone is showing interest in this powerful technology which in turn increase the production, efficiency, gaining deeper insights, Knowing about the customer needs and patterns.
There are other major obstacles, which are needed to be overcome such as lack of knowledge of the companies. Workers with IoT training and internal experts in this area will benefit businesses and provide them with the tools they need to build a better future. This improves visibility, increases operational efficiency, increases productivity and reduces the complexity of processes in the industry. Industrial IoT is a transformative manufacturing strategy that helps improve quality, safety and productivity in a sector.
With the adoption of IoT, companies will get the potential to save money. As you think the cost of implementation of the technology is too high, but in the long run, the cost will be greatly varied. IoT is greatly reducing the cost by reducing the breakdown cost by 70% and repairs cost by 12%. Labor cost is also reduced along with the equipment cost.
The IoT gives businesses the opportunity to better plan their business and, as a result, serve their customers faster and more efficiently. The IoT frees staff resources from long hours of manual checks by offering full control 24/7. Due to the ability to implement predictive maintenance and implement measures, the cost can be greatly reduced.
3.Better Supplies Maintenance:
When it comes to optimizing inventory, the opportunities are endless for real-time data. IoT had several positive impacts which affect the maintenance of inventory like a clear view of the moving parts in the company is offered, monitoring of the supply chain. It also helps to track the products efficiently and alerts will be sent in case of any shortage of the product. It helps to count accurately and can send alerts with the help of the applications like sensors.
According to research, it was shown that almost 151 labors are reporting the accident for every 15 seconds. The key factor of these accidents is equipment malfunctioning. The main ways in which IoT can assist the safety in manufacturing is with reducing the time it takes to get it and increasing the volume of data. Instead of manually entering the data, live data can be transmitted directly to the appropriate areas and control rooms.
By implementing artificial intelligence, data analysis can immediately inform employees of ongoing or pending issues, streamlining processes. Long-term data analysis allows long-term exposure to be calculated and potentially hazardous conditions to be detected in advance to ensure that workers carry the necessary protective measures.
Intelligent tracking mechanisms can be used to track the deterioration of the product during transit and the impact of climate, roads and other environmental variables on the product. It also provides information that can be used to rethink products and packaging to improve performance, both in terms of customer experience and sometimes the cost of packaging. models and product handling of several customers.