How Manufacturers are Leveraging IoT Today
Are you taking advantage of the Internet of Things (IoT) and offering a comprehensive solution to your customers? Do you deliver connected products so you can offer maintenance and monitoring services proactively and prevent costly downtime?
According to Industry Week: How Manufacturers Use IoT for Operational Efficiencies, digitizing manufacturing and business processes has resulted in a 45 percent increase in customer satisfaction.
Predictive maintenance offers you operational efficiencies to transition from reactionary maintenance to predictive, and even preemptive, maintenance capabilities increasing your bottom line.
Connecting People and Services
Connect outside of your organization directly with customers and you will be able to break down the barriers between sales and service reps, warehouse workers and delivery drivers and garner new sources of revenue. Collaborate within your organization so you can engage your customers throughout the manufacturing and business process to access greater value from your teams. The IoT is connecting people with the information they need to collaborate across organizations which brings a significant benefit to your company and helps optimize internal business processes.
A Real Life Story
A leading manufacturer of robotic technology worked with Microsoft to build a smart robot-based automation solution to enable human robot co-working. The solution connects the management team with the plant floor through Azure IoT services, so they can incorporate a predictive maintenance model. This has enabled the robotic company to monitor progress on the Azure cloud. As the robots move, status reports are sent to the windows tablets of the workers on the floor. This integration has almost eliminated machine failure and downtime for the robotic company which has saved time and money.
The market potential for IIoT, Industrial Internet of Things, is projected to be $913 billion in the manufacturing industry by 2018. According to Frontier Economics, and with industry analysts projecting up to 50 billion connected devices, the market potential of IoT will be $10.6-$14.2 trillion by 2030.
If you apply this technology to what you are doing today, you will improve operational efficiency and if you chose to be at the forefront of the industry, you can transform your business model and drive new revenue streams. We can help you transform business processes with this Competing in the Digital Age of Manufacturing eBook, download it now.