In the Past few years Industrial IoT has seen a lot of innovation and advancement. Industry 4.0 is more mature. Lot of manufacturing organizations are taking the initiatives to gain more insights for strategic and competitive advantage.
The Industry is going through a huge Transformation to adopt the Power of Centralized Intelligence from plant automation and in Real time. Many industries are identifying the scope for this transformation and realize endless opportunities for effective and efficient manufacturing process. This enables the companies to discover hidden insights from voluminous data to come up with innovative solutions process and cost optimization.
Data is the most powerful resource for any organization and especially in manufacturing industry. Data play’s a very crucial role for forecasting production and quality parameters as well as equipment related to downtime or unusual behavior when integrated centrally. This also removes the possibility of human errors in data logging and other activities. Receiving the data from production systems in real time changes the dynamics of the manufacturing process.
Most common challenge faced while implementing Industrial IoT, is the lack of well-defined approach by the manufacturers on what kind of problems to solve and criteria for success for implementation.
Starting Small is the best approach for any industry 4.0 implementation to realize benefits and quick wins. Well defined scope and measurable ROI is the starting point. This will enable the company to strategize the implementation without a hassle. Once there is a stabilized ROI, then internally the process for expanding the IoT implementations is easier. Taking up a silo approach without possibility to extend as an integrated solution and Investing in platforms without validating the scalability and manageability are the most common mistakes to avoid.
Simple solutions like vibration for failure prediction or measurement of few parameters of an equipment may give quick wins but seldom accelerate Industry 4.0 journey
Industry 4.0 and Data Driven Decisions play significant role in ensuring Improved Production, Quality and Operational Efficiencies for manufacturing industry.