[New ebook] Improving Operational Efficiency with Industrial IoT
A study by the American Association for Quality found that businesses shifting to digital processes and Industrial IoT have seen as high as 82% increase in efficiency accompanied with 49% less defects! Production on the shop floor is the most obvious place to start when looking at benefits, but Industrial IoT drives operational efficiency in many other areas including predictive maintenance, quality, supply chain and ERP systems.
Industrial IoT involves the connectivity of all aspects of a factory’s assets. This includes production equipment, inventory, supply chain, maintenance, quality and business operations.
In past revolutions, specific linear progress was made in one or more functional area while progress was made in other areas in subsequent revolutions.
Now, with the arrival of Industrial IoT, all functional areas within a factory are impacted across the board and all assets and subsystems are linked together. This horizontal integration coupled with deep analytics in specialized IoT software allows for the creation of a “smart” factory where all assets are harnessed to improve operational efficiency using AI, machine learning and device connectivity.
The result is a system that can identify trends, take independent and sometimes autonomous action and respond much faster than human intervention to allowefficiency gains previously impossible. It is this distinction that sets Industry 4.0 apart from all past revolutions as it is something that must be utilized by the whole enterprise to understand and implement its benefits. In this system, data is unsiloed from its traditional “island” mentality between departments and one database can be used for the entire operation. The data is available to all so that the entire enterprise operates under a single version of truth. And as the analytics within the software evolve through machine learning algorithms, the systembecomes even more efficient over time.
Within the “Improving Operational Efficiency with Industrial IoT” ebook, Machine Metrics outlines the barriers manufacturers must overcome in embracing Industrial IoT as well as the efficiency benefits to specific areas and operations overall.
- Operational Efficiency and the Limits of Lean and Six Sigma
- Barriers to Industrial IIoT Adoption
- Operational Efficiency and a Holistic View of IIoT
- Efficiency Benefits by Area
- Industrial IoT as an Ecosystem for Operational Efficiency
This is an excerpt from “Improving Operational Efficiency with Industrial IoT” ebook, written by Graham Immerman, Director of Marketing for MachineMetrics, a venture-backed manufacturing analytics platform. Graham has quickly become an authority on digital transformation and the application of IIoT technology for the manufacturing industry. An accomplished leader and experienced start-up veteran with an integrated background in digital, social, traditional, account-based marketing, growth strategies, and business development.