Predictive manufacturing environment can reduce maintenance costs by as much as 40% and unplanned downtime by 50%

Repositioning a Rapidly Growing American Home Builder

Realize Positive Impact on Top-line and Bottom-line

Through Optimized Performance, Quality and Efficiency

Incremental Cost Savings

According to the PWC Global Industry 4.0 Survey 2018, organizations who adopt digitization are expected to achieve 16% cost savings in the next five years, versus 10% for Digital Novices. Capitalizing the benefits like improved efficiency, optimized quality and customer driven offerings, Industrial IoT helps manufacturers maximize productivity with an optimum number of resources. This creates positive impact on both the top line and the bottom line.

Increased Asset Performance

Condition monitoring and Predictive maintenance solutions of IIoT platforms integrated with Enterprise Asset Management are being leveraged to optimize asset performance across the industries. These assets could be oil wells, vehicle fleet or machines on the shop floor. As per the plant engineering maintenance survey, the equipment failure at the field had dropped from 61% to 57% in setups where predictive maintenance scheduling was combating unplanned downtime.

Reduced Inventory Cost

Real-time inventory levels and production capacity information help companies optimize procurement and manage the material flow more accurately. Logistics teams can timely order the optimum quantity of raw materials reducing inventory and hence freeing up liquidity. It also helps in negotiating profitable deals and signing off contracts with the vendors in advance. Research says that IIoT can help reduce overall inventory levels by up to 36%.

New Revenue Streams

The actionable insights provided by IIoT platforms is enabling industries to adopt innovative business models, create data-sharing ecosystem and launch new service offerings. For example, remote monitoring of assets in the oil & gas industry, coupled with predictive and perspective analytics helps in providing maintenance and repair services before the actual breakdown and save significant cost. This is being offered as a” Service” and qualifies for an additional revenue stream.

Enhanced Operational Efficiency

Using advanced analytics, IIoT can enhance production efficiency of equipment and also entire production lines by optimizing process parameters. Machine learning algorithm analyzes data pertaining to all variables, including production, scheduling, asset condition (temperature, vibration etc.) and raw materials. It then provides actionable Insights to optimize OEE (Original Equipment Efficiency) and also change production schedules in case of demand fluctuations.

Increased Quality Control

IIoT platforms provide real-time batch tracking and product genealogy along with real-time analytics built on SPC methods to predict product quality and alert notifications for any deviations and non-conformances. Toyota claimed that IIoT has helped them improve their response time to quality issues. When the company has a field issue, it can trace a particular part back to its manufacturing conditions and try to understand if there’s something in the manufacturing process that is out of control.

Optimized Energy Consumption

Industrial IoT applications can help in optimizing energy consumption and save energy associated costs. The Energy & Utility Management application measures and analyzes Energy consumption of each machine and all the industrial processes along with energy quality parameter data such as power frequency, supply voltage, voltage interruptions, etc. With the analytics feature, it understands & develop energy consumption patterns, detects losses, and showcases over-exhaustion or under-utilization of resources.

Enhanced Safety

Industrial IoT has helped manufacturers improve workplace and employee safety significantly. Integrated safety systems coupled with intelligent real-time dashboards enable faster response and quick resolution in case of an accident or malfunctioning. Predictive Analytics further helps in eliminating the occurrences of such incidents in the future to a great extent. Adoption of IoT enabled wearables also helps in supervising if employees are following proper workplace safety procedures and in taking corrective actions timely..