Critical Factors which show the effect of Industrial IoT Implementation
In the Past few years Industrial IoT has seen a lot of innovation and advancement. But what is Industry 4.0 and why area lot of manufacturing companies taking the initiative and steps towards Industrial IoT.
Maintenance: For any manufacturing industry, optimizing the cost of maintenance and reducing asset downtime is crucial. Implementation of Industry 4.0 streamlines a seamless connectivity and the assets are monitored in real-time to prevent any potential breakdowns or damages with timely condition based maintenance. The concept of smart factory gives the capability to the assets to operate and process efficiently with less downtime which allows the manufacturer to maximize their production capability with increased overall equipment effectiveness (OEE).
Production: Manufacturing Industries rely on the volume of production to meet the market demands. The biggest challenge faced by industries are cost of production and plant performance bringing down the manufacturing yield. These challenges cause a huge impact not only the profitability but fail to harness the capacity utilization. To tackle these challenges, data from each equip mentor asset in the factory are monitored in real time for early pattern identification to reduce any risk of machine downtime and product defects. This will increase the production efficiency by reducing wastage and production cost. Energy and utility management with specific consumptions analysis and capacity plan balancing can result in to huge saving. With industry 4.0 and data driven decision making, manufacturers can adopt optimized and efficient processes to improve their production while keeping a control on costs.
Quality: Quality is the key differentiator to maintain a competitive edge. Quality related issues effect the brand reputation and severely impact organization growth. Production process, equipment performance, process parameters are the key contributor for quality of a product. Integrated view of all parameters with data model for positive and negative contributors for quality can be analyzed and timely intervention helps organizations to improve the quality.
Every organization has their own process or methods of production, but always feel that there is a lot more scope to increase the quality to the totality of the product.
Industry 4.0 is stage of organization and control in the full life cycle of the product value chain.