Look around. How many devices do you have that are connected to the internet? Everything from our phones to our TVs to our cars and our crockpots are Wi-Fi enabled. The Internet of Things (IoT) is in your home, office and on the manufacturing floor.
Automation has already been at work transforming traditional manufacturing. But the Industrial Internet of Things (IIoT) is positioned to have an even bigger impact. Technology is revolutionizing every part of the manufacturing process and in some cases saving companies millions of dollars.
The IIoT Can Eliminate Downtime
Sensors on machinery can alert engineers to mechanical problems or maintenance requirements eliminating unplanned downtime and production slowdowns. These sensors may also help reduce energy and water waste making facilities more cost-effective and environmentally friendly. When time is money, predictive and preventative maintenance can be priceless.
The IIoT Can Increase Profitability
A study on the Industrial Internet of Things found that 69% of smart factories increased production and profitability thanks to IIoT applications. One of those applications, real-time inventory updates, allows for immediate optimization on the factory floor saving time and material cost. RFID tag technology is also helping decrease the time and money it takes to track and ship inventory. In a study of 1,100 manufacturing executives worldwide, IIoT-based management saved up to 18 hours a month of manual employee counting and tracking time.
The IIoT Can Mean a Safer Workplace
The IIoT can help manufacturers address workplace safety concerns and decrease the probability of a workplace injury. Wearable sensors can collect vital data on employees like heart rate, temperature, and movement. That data is then compared to baseline data to detect or predict unusual or concerning behaviors that may lead to falls, overexertion, or dehydration.
Is the IIoT for You?
The infrastructure needed to support IIoT applications can be expensive and cybersecurity and data beach concerns often hamper some manufacturers from fully embracing IIoT solutions. But it doesn’t have to be an “all or nothing” scenario. That’s where Cain Ellsworth and our Growth & Profits Solutions can help. We can go beyond the numbers and help you develop a long-term plan that fits your business goals. Contact us and let’s look at ways you too can bring the IIoT to your production floor.
STUDY LINKS & SOURCES:
one study of 1,100 manufacturing
- Bank Statement, Credit Card, and Loan Reconciliations
- Fixed Asset & Depreciation Schedule Maintenance
- HR Support & Consulting
- Payroll Preparation & Tax Reporting
- Preparation of Reports & Statements
- Pre Year-end planning & cleanup
- Sales & Use Tax
- Software Setup, Training, & Implementation
- Software/Systems Support
- CEO/Business Executive Coaching: Use our business executive coaching to improve performance factors, such as profitability, and enhance company growth and value.
- Facilitated Management Meetings: Gain professional meeting facilitation in order to solve problems, resolve conflict or come to consensus effectively and efficiently.