It is probably (hopefully) very clear to most manufacturers by now that not implementing some type of IoT or cloud strategy is really not an option in todays world. Not having a cloud strategy is not a strategy for manufacturers if you want to survive in this ever-changing, fast paced economy. Companies are experiencing a much […]
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Prior to taking important financial decisions, it is common practice to investigate current tools and make some calculations to find out alternatives with the best returns on investment. Though deep analyses are not always made, fundamental economic indicators such as exchange, interest and inflation rates are taken into account at the least. When it comes […]
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We are all experiencing the impact of the digitalization. Name any tech buzzword – be it artificial intelligence, Fourth Industrial Revolution (4.0), big data, Internet of Things (IoT) – and you will see a ripple effect on different industries, opening up new opportunities, rethinking new business models, but also creating new challenges for societies. In […]
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It’s a very simple equation. If your equipment isn’t working, neither are you. That’s why downtime is one of the biggest expenses incurred by any manufacturing operation. When your production line is stopped for any reason, it’s akin to watching your money burn. Not only do these interruptions often mean costly repairs, but they also […]
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Connected devices and the subsequent birth of the Internet of Things (IoT) have provided businesses a veritable treasure trove of data to mine, understand, and reapply to their own processes. And thus, the Industrial Internet of Things (IIoT) was born. Most enterprises today have only scratched the surface of what their connected device data can […]
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5G is grabbing headlines across consumer markets with mobile network operators generating buzz on the power of new content delivery services for ground-breaking smartphone applications. There is undoubtedly potential there, but 5G’s impact on commercial markets, especially industrial, will be of equal magnitude. There is an array of connected ‘things’ existing and entering industrial environments […]
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With global spending on IIoT expected to reach $745 billion in 2019, industries continue to gear up for Industry 4.0. According to International Data Group (IDC), that number represents an increase of over 15% from 2018, and double-digit growth is expected to continue through 2022. Leading the pack are discrete manufacturers and process manufacturers who are expected […]
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It’s a rare industrial organization today unable to point to one or a dozen initiatives inside their enterprise with the moniker of IIoT, Industry 4.0, smart product, or some other label under the general category of digital transformation. Yet according to McKinsey, 70% of these projects fail to deliver business value. Why? Most teams consist […]
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High logistics costs, the lack of skilled labor, employee conflicts, and the complexity of the global supply chain – these and other factors encourage manufacturers to resort to distributed production. Outsourcing a part of the manufacturing operations or building a manufacturing facility closer to a regional sales market may seem a perfect way to lower […]
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This post is the second of a 3-part series. Check back in next week for the conclusion of this series. In the first part of this series – The key role of Augmented Reality in Industry 4.0 for Manufacturing: Part 1 – we looked at the fundamental ideas behind what has been called “Industry 4.0” – […]
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There are three key ways to ensure that implementing IIoT—and in particular IoT integration on the factory floor—in your manufacturing environment goes off without too much difficulty: Make sure that you are not getting stuck with the 20/60/20 rule of change management. This is where 20% of your workforce is firmly on board with your plans, […]
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There is no denying that we are well into the swing of the Fourth Industrial Revolution. Early adopters of digitization are already seeing measurable benefits such as increased energy efficiency and quicker troubleshooting which is resulting in less downtime of their assets and a better return on capital expenditure. However, there is still concern that digitization […]
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