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Manufacturing Technology Insights | Tuesday, August 18, 2020
Streamlining manufacturing processes with IIoT drives operational efficiencies and supply chain optimization.
FREMONT, CA: One significant trend having a transformative impact on the manufacturing model today is IIoT—Industrial Internet of Things. Research predicts that the global market for IIoT platforms is growing by 25 percent annually and will be worth over $4 billion by 2023. Manufacturers realize that the world is changing around them, and they need to change with it. Companies today that are looking for competitive advantage need look no further than the capabilities that IIoT affords. Here is how it is transforming the manufacturing sector.[vendor_logo_first]
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Operational Effectiveness Through Operational Intelligence
Manufacturers today are implementing IIoT across their entire operations, ultimately achieving operational intelligence. The IIoT intelligence enables end-to-end visibility of the supply chain, and these platforms are capable of contextualizing real-time plant efficiency KPIs and managing a plant’s equipment and assets, down to the operator and workforce-level. The main IIoT use case driving several operational effectiveness outcomes is predictive and increasingly preventative maintenance. IIoT analytics combined with machine-learning identifies anomalies in asset health data to predict failures, downtime, and determine the root cause of a failure to prevent future issues.
Agility and Flexibility
Meeting the constantly evolving demands of customers is pushing manufacturers to become increasingly flexible and agile throughout their shop floors. The majority of manufacturing CEO survey respondents claim that acting with agility is the new oil for business. Industrial machines and robots require to be easily reprogrammed and updated to be in line with these shifting and increasingly customized customer demands. Bi-directional connectivity through IIoT allows a seamless link with industrial assets with IIoT platforms providing the intelligence tailored for a variety of roles.
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Safety and Compliance
Compliance is a high operating expense on manufacturers’ financial statements, and legacy regulation processes are timely and costly. The IIoT is the natural solution for the compliance bottleneck since it connects disparate sources of information residing in silos and hitting stringent compliance frameworks. A connected system can offer relevant data for manufacturing plant risk assessments, work schedules, and inspection reviews. Health, safety, and environmental laws is also attainable via the IIoT.
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