The application of the Internet of Things in manufacturing

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From reducing costs to improving maintenance to increasing security, the Internet of Things offers many benefits to manufacturing. This article delves into some of the best iot use cases in manufacturing.

From reducing costs to improving maintenance to increasing security, the Internet of Things offers many benefits to manufacturing. This article delves into some of the best iot use cases in manufacturing.
The manufacturing sector is currently undergoing the fourth Industrial Revolution and is evolving with advances in the Internet of Things, artificial intelligence and robotics. Research suggests that global manufacturers will invest $70 billion in iot solutions by 2020, and many are implementing iot devices to leverage predictive maintenance and sophisticated data analytics to improve productivity, availability, and add value to their products.
With the number of smart devices set to reach 31 billion by 2020 and 75 billion by 2025, companies must understand how these devices can transform traditional ways of working into dynamic, connected systems. Iot sensors can minimize challenges in the manufacturing process and throughout the supply chain through the use of iot.
Improve security
Equipment failure is a key factor in safety incidents, with the study finding that about 151 workers are involved in workplace accidents every 15 seconds. Ultimately, one of the main ways that iot technology can help secure manufacturing is by increasing the amount of data and reducing the time it takes to get it. Instead of manually entering data, field data can be transmitted directly to the control room or appropriate area. By implementing AI, data analytics can immediately inform employees of current or pending issues, thus streamlining the process. By analyzing the data over long periods of time, long-term risk indices can be calculated and potentially dangerous situations detected in advance to ensure workers wear protective gear if necessary.
Improved inventory maintenance
The Internet of Things can have a positive impact on the maintenance of inventory by effortlessly monitoring supply chains and providing businesses with a clear view of moving parts. The Internet of Things allows accurate calculation of supplies and efficient tracking of products, thus preventing any shortage of inventory. With Internet of Things apps such as sensors, alerts can be sent when products are low in stock. The power of real-time data means the opportunities are endless when it comes to optimizing inventory.
Reduce cost
Companies are realizing the potential to save money and boost profits through the Internet of Things. Although the cost of implementing the technology is huge, the result is substantial savings in the long run. The Internet of Things is cutting costs by saving more than 12 percent on repairs and reducing breakdowns by nearly 70 percent. It can not only reduce the cost of equipment, but also reduce the cost of labor. The Internet of Things gives organizations the opportunity to plan better to serve customers faster and more effectively. In addition, additional cost savings can be achieved due to the ability to implement predictive maintenance.

The Internet of Things continues to improve communication and optimize manufacturing processes. Microsoft recently announced that it is teaming up with the BMW Group to transform digital productivity across the industry by opening up its manufacturing platform through the Internet of Things. It is clear that many companies are beginning to take advantage of this powerful technology, resulting in increased productivity and efficiency, as well as a deeper understanding of customer behavior patterns and needs. However, there are still obstacles to overcome, such as a lack of expertise among some companies. Being trained in the Internet of Things and having employees in-house who are experts in the field will benefit companies greatly and give them the right tools to build a better future.

Reprinted in the House of Things