According to IoT solutions company relayr, the manufacturing industry, as a whole, is the least digitally advanced industry today. It is also the industry with the most to gain from the Industrial Internet of Things (IIoT).
With shrinking margins and increasing pressure to deliver better, faster, and cheaper, manufacturers are looking for ways to improve efficiencies, reduce costs, and open up new revenue streams, none of which can be accomplished without embracing the IIoT.
The key areas in which the IIoT is poised to help manufacturers achieve their target business outcomes are:
- Asset Services – the continual monitoring and analysis of production line and/or supply chain data points that are most influential to a manufacturing enterprise. This data can be used to trigger automated responses in the machines, alert employees, track production and inventory in real time, and even enable custom product manufacturing
- Predictive Maintenance – the ability to conduct “just in time” maintenance, drastically reducing costs related to unplanned downtime as well as unnecessary preventative maintenance visits for healthy equipment. Through advanced analytics and anomaly detection, predictive maintenance capabilities only grow smarter over time through AI capabilities, to continually refine and improve manufacturers’ maintenance performance.
- Device Management – the functionality delivered by the ability to connect, retrieve data, and take action at the device (equipment) level. This interoperability is only achievable through a solid foundation of an IIoT middleware platform, connected hardware, and a solid device management software component. Through retrofitting, device management can be enabled in legacy equipment of any age and level of connectivity.
Discover how to improve OEE, reduce unscheduled downtime, and maximize efficiencies — things that truly impact your bottom line.
Click through to read relayr’s whitepaper, which draws on respected industry reports and real case studies to illustrate the business outcomes that manufacturers can achieve by implementing an IIoT strategy.
