How Industrial IoT Helps Manufacturing Achieve Profitability

Source | E-Works

The Industrial Internet of Things (IIoT) refers to the use of IoT technology in industrial systems, enabling machines to communicate with each other, their environments, and other infrastructures, making them self-regulating and smarter.Smart manufacturing is a concept closely related to IIoT, referring to the use of IoT machines to monitor (and ultimately improve) production processes.

Both smart manufacturing and IIoT rely on data collected from embedded sensors in machines and equipment. These sensors can measure various variables such as temperature, pressure, and humidity, which can be used to assess and improve production processes. If used properly and effectively, this data can provide numerous advantages.

Five Ways IIoT Helps Manufacturing Achieve Profitability:

1. Predictive Maintenance

IoT sensors in manufacturing allow businesses to proactively maintain their equipment.The data is transmitted in real-time, enabling managers to predict when equipment needs repairs.

For example, if the temperature exceeds a threshold, the manager will receive an alert, allowing issues to be addressed before equipment fails. This keeps the production process running rather than stopping due to a breakdown.

Predictive maintenance optimizes asset performance, reduces operational costs, and can even extend the lifespan of equipment.

2. Energy Savings

Smart manufacturing helps monitor the energy consumption of equipment. Managers can identify which devices are inefficient energy consumers and can compare similar devices to determine if energy is being wasted (and needs maintenance).

Energy consumption data can be used to improve production planning, reduce overall energy use, and lower associated costs. Identifying energy wasted during non-working hours can also help businesses save money.

3. Supply Chain and Workforce Optimization

IIoT provides real-time information for all aspects of the supply chain. Efficient implementation gives businesses a clear picture of how materials, equipment, and products move throughout the process, identifying inefficiencies and bottlenecks and how to improve them.

Analyzing this supply chain data is key to unlocking its utility, just like predictive maintenance. Businesses need to collect the right data and use it correctly to achieve a smoother supply chain.

The benefits include better inventory management, lower production costs, and faster production times. Managers will ultimately have a clear understanding of how factory machines are utilized and where time and cost waste occurs in the process.

4. Cost Savings

In this discussion of preventive maintenance and energy savings, some cost-saving opportunities have already been mentioned, but smart manufacturing has other ways to save costs for businesses.

Cost savings come from various aspects:

● Reduced maintenance costs for machines (predictive maintenance is cheaper than reactive maintenance)

● Decreased machine downtime

● Lower energy consumption

● Reduced inventory and supply chain management costs

● Fewer product recalls and returns due to quality or defects

5. Improved Product Quality

Product quality largely depends on whether machine performance is normal and meets expected standards. They must deliver reliable results.Using IoT sensors to monitor equipment and using data correctly can identify issues that lead to quality degradation. These problems can be investigated and resolved immediately before product quality issues impact the company’s brand reputation.

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