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Businesses around the world are preparing for Industry 4.0, driven by great expectations of the benefits the new industrial revolution will bring. With the push of real-time data, automation, and machine learning, Industry 4.0 will usher in a new era of smart enterprises that can make quick decisions based on data.
The core of Industry 4.0 is the concept of interconnectivity. Through deep integration, various technologies within enterprises will communicate with each other, ultimately providing powerful insights into how the business operates and discovering feasible ways to improve efficiency.
However, the depth and strength of insights largely depend on the quality and quantity of data collected, as well as the speed of sharing. Enter the Industrial Internet of Things (IIoT), a connected network of sensors, devices, and business applications capable of collecting and rapidly sharing vast amounts of data for analysis.
Organizations should go further by investing in the Industrial Internet of Things and aggregating large amounts of data into a data lake to drive more innovation.
As we look forward to a new era of smart enterprises driven by deep data insights, there are three scenarios worth our attention:
Equipment Health Monitoring and Protection
Keeping equipment running smoothly is crucial for all businesses. By gaining deep insights into how assets are currently being used and their condition, companies can optimize equipment utilization and ensure proper maintenance before failures occur. The Industrial Internet of Things serves as the digital eyes and ears of the enterprise, providing a 360-degree view of equipment.
Smart Replenishment
For manufacturing companies, accurately knowing how much is available on warehouse shelves and when to reorder is a matter of operational and financial efficiency. Missing products can leave you unable to fulfill commitments to customers, while excess products can incur unnecessary storage costs and lead to cash flow shortages. The Industrial Internet of Things can help businesses automatically achieve balance by continuously updating inventory levels and automating the replenishment process.
IIoT technology enables businesses to understand the status of product inventory levels and automatically trigger replenishment mechanisms with warehouses or suppliers when needed. By ensuring that operations are always efficient, IIoT can reduce operational costs, minimize manual operations, and reduce human errors while enhancing customer satisfaction by avoiding stockouts.
Quality Assurance
Ensuring that customers receive the highest quality products possible is a priority for businesses. For industries such as food, pharmaceuticals, and chemicals, the speed and quality of transport are particularly crucial, as goods are often perishable and must adhere to strict refrigeration standards during transit.
By utilizing sensors in trucks and containers, businesses can harness the power of the Industrial Internet of Things to monitor transport conditions in real-time, such as temperature, pressure, acceleration, etc. In emergencies, IIoT technology can automatically notify businesses and trigger processes to replace deliveries. This automated process not only helps reduce operational costs but also increases customer satisfaction as businesses can ensure goods are of the highest quality and proactively communicate when they cannot meet planned delivery times.
As we enter Industry 4.0, the future of enterprises will undoubtedly rely on the combination of data collection and analysis. To remain competitive in the new environment, businesses need to consider how to leverage the Industrial Internet of Things to provide data-driven insights.
(Source: IoT Home Network)
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