The use and implementation of the internet of things (IoT) have significantly revolutionized the way that industries do business, allowing them to work smarter and gain better results than before. Changes in the way companies utilize, communicate, or operate data have made the once slow-evolving industry to be one that is digitizing at rapid speed.
In that context, manufacturers today must be fast across all aspects of operations in order to stay competitive and relevant in the modern marketplace. This need for fast pacing alongside the advancement of IoT has bred another movement called the industrial internet of things. Through this, manufacturers now have the ability to use analytics, artificial intelligence, machine learning, and more. NetSuite Consulting, for example, allows them to simultaneously streamline business operations, increase efficiencies and quickly identify business opportunities all in one.
Such a trend is something that won’t be going anywhere anytime soon. In fact, this growing phenomenon within the industry has been fast-tracking the manufacturing success of the future, given by how it offers convenient, digitized IoT solutions for the industry.
That being said, here are 3 Ways that IoT is contributing and accelerating manufacturing success in the industry.
1. Early detection for higher-quality management
Various news stories detail how early detection has saved companies thousands or millions of financial losses.
For example, Tata Power managed to save approximately $300,000 when one of the employees realized that the bypass valve of a low-pressure heater was slightly open when it should have been closed. In the manufacturing industry, particularly, early warnings such as this allow companies ahead-of-time preparations while minimizing huge risks at the same time.
One way to receive an early warning like the aforementioned is through real-time monitoring that IoT offers, which means that the employees in charge of monitoring the power plant know how the systems are functioning every minute of the day.
In that case, the gas turbine was immediately reported to Tata Power so that it could make the necessary adjustments quickly; otherwise, it would have only escalated into a larger problem which may potentially be unresolvable.
IoT materializes the promise of predictive maintenance, giving companies more control over their outputs while ensuring that they reach their production goals as much as possible. This also helps reduce the instances of discarding equipment, products, and other issues whenever unmanaged situations arise.
2. Safety improvement
Within the manufacturing industry, success is always a top concern. Because of this, companies are constantly looking for ways to improve. Through connected devices and IoT sensors, the early identification of malfunctioning systems will help prevent risks such as unnecessary injuries to employees that would have been unaware of the situation.
IoT allows the possibility of companies to monitor in real-time either through video analysis or by providing employees with sensors that come with a variety of readings to flag and detect an anomaly the instant it arises.
One example of this is the Australian-based construction firm where employees working in the desert use smart helmets to monitor their heart rate, temperature, humidity, and more to avoid heatstroke. With this, IoT helps extend employers’ abilities to protect their employees by providing them tangible security safeguards in any situation possible.
3. Digital Twins
A digital twin refers to the digital representation of a system or physical asset and is also the main functionality of any IoT platform.
They also go by the term �asset avatars,’ which is a name given by other companies who are already using the feature. Nonetheless, whatever they’re called, they provide a slew of enormous benefits to manufacturers and the industry as a whole.
Being a complete replica, a digital twin provides limitless possibilities to factories. Here, they can be used to perform simulations that allow companies to test the lifespan of a physical asset while finding methods to develop better versions or models of the product that can address the insufficiencies identified.
Moreover, plants also don’t have to wait for a product line failure to happen since the implementation of digital twins allows them the ability to predict when an asset will likely have an issue.
Physical assets that are applicable for replication can range from wind turbines to airplane engines. Whatever the kind of machinery and its size, companies can use IoT to map and analyze them in a controlled and safe environment.
Furthermore, factory managers also have more management and mitigation control in terms of detecting failures or defects ahead of time, keeping plants functional, and ensuring that they meet the required deadlines at the same time.