Infographic: Benefits of IoT in Manufacturing

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Jun 2020
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Author : Pete Peranzo
IoT in Manufacturing - Benefits

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The Internet of Things (IoT) is set to bring a digital revolution in the manufacturing industries across the world.

For many years, there’s an increasing demand for customization, productivity, and improved global supply chain in the manufacturing sector. Industrial IoT or IIoT can positively impact the manufacturing sector more than any other field.

Many factories and manufacturing plants have started investing in creating innovative solutions to remain competitive. Manufacturers that are using IoT integrated machines have already started experiencing improved productivity, supply chain efficiency, and revenue in their business.

So, how does IoT works, and how does it benefit the manufacturing sector? Let’s see.

What is IoT and How it Works for Manufacturing Sector?

IoT refers to the network of inter-connected devices that communicate with each other or other networks. IoT-enabled devices can perform a range of activities, but they’re mostly used to collect data and perform specific actions.

IoT uses ‘smart’ devices to collect the data, process, and perform actions based on the data. These smart devices are integrated with sensors and other software to connect and exchange data within the network.

IoT integrated equipment provides valuable real-time data that allows manufacturers or machine operators to make informed decisions.

  • Sensors collect the data from the machine and send it forward to the cloud
  • The data is passed to the quality monitoring system
  • The analyzed data is sent to the end-user

Ok, but how does this network of smart devices can benefit manufacturers? Before we discuss this, let’s see some interesting facts about IoT in manufacturing.

Some Interesting Facts about IIOT

Did you know that by the year 2023, it’s estimated that 70% of all the automobiles will be connected to IoT?

What’s more? According to reports,

  • IoT has enabled manufacturers to increase their average revenue by 28.5% (source)
  • Companies believe IoT and other digital technologies increase productivity by 12% at least (source)
  • The industrial IoT market size is set to reach $124 billion by the end of 2021 (source)
  • More than 50% of the new business systems will incorporate some IoT element by 2020

Benefits of IoT for the Manufacturing Industry

IoT allows manufacturers to create autonomous networks to streamline the manufacturing process while staying as cost-effective as possible.

Here are some important benefits of IoT for manufacturing:

1. Improved Energy Efficiency

Energy is one of the significant expenses in manufacturing companies. The problem with the current industrial energy infrastructure is that it can only track the high level of energy consumption.

The utility bills you get include the records of energy consumption by the entire factory. There’s no way to break down the energy consumption to device levels and find out the parts with low performance. There are some energy consumption monitoring tools out there, but they have limited data points, and you can’t precisely pinpoint the problem with partial data.

IoT can close this gap by providing energy data on the device level. If there’s an underperforming device in the network, the sensors will detect it and alert you so you can take necessary actions. The technology can give you insights and recommendations on improving energy waste and other opportunities for every saving.

2. Enhanced Forecasting and Predictive Maintenance

Maintenance is a labor-intensive and time-consuming process. Isn’t it great if you get automated alerts when the machines need the maintenance, rather than relying on the historical data?

Proactive maintenance can save a lot of time and effort. You don’t need to plan for maintenance. Let the smart devices do the work for you. Sensors can keep tracking the machines’ health and notify the managers or operators when the maintenance is needed.

If the machine doesn’t need any repairs or replacements, the time and resources saved here can be used elsewhere.

3. Enhanced Product Quality

Manufacturing a high-quality product at the lowest cost possible is the dream of every manufacturer out there. A slight change in quality can have a far-reaching impact on the manufacturing business.

A high-quality product can improve customer satisfaction, reduce waste, improve sales, and profit. But, producing excellent quality products is not that easy.

IoT can help you with this. You see, one of the main reasons behind low-quality products is the faulty machines that aren’t set or calibrated or maintained correctly. The worst part is that a lot of tiny details often go unnoticed as the end product would look just perfect. The product passes through quality tests, and it’s not until a few months when your customers start experiencing the issue.

Imagine the amount of resources it would take to spot and correct the issue. In an IoT-enabled network, sensors detect the slightest change in the configuration and send alerts to the operators. The staff can temporarily stop production and fix the problem before it’s too late.

4. Reduced Downtime

Manufacturing high-quality products isn’t just enough. The production has to be completed on time without any issues. If the machine breaks down in the middle of the production, it can incur severe losses.

Suppose a baking machine stops working in the middle of the baking process. It’s not only the downtime that you’re worried about but also the raw products in the machine and the subsequent delays. In some cases, the half baked product can be entirely useless, which can be a considerable loss.

IoT can save manufacturers from such losses. The baking machines can be integrated with sensors to send alerts when there’s a decline in the performance. Early detection can help you solve the problems and minimize the losses.

5. Faster and Informed Decisions

IoT can significantly improve the decision-making process in the organization. It unlocks critical data about the performance of different equipment in the network and provides insights to appropriate recipients.

With this data, managers and field operators can take necessary steps to improve the processes and overall productivity of the plant.
Benefits of IoT for Manufacturing
 

Build Powerful IoT Network with Imaginovation

Want to reap the benefits of IoT in your manufacturing business? Let’s talk.

We at Imaginovation help businesses achieve their true potential by providing complete IoT development services. If you want to implement IoT in your manufacturing plant and don’t know where to start, get in touch with us.

 

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