To keep up with the trending demands, the manufacturing industry, right now, is undergoing a huge transformation. One of the driving forces associated with Industry 4.0, IoT technology, has a huge impact on the manufacturing sector. From optimizing operations to scaling product quality and employee safety, the technology does really transform the traditional industrial spaces into smart spaces.
To realize the countless benefits of this disruptive technology, do check out the complete article.
Industry 4.0 and Manufacturing Sector
Industry 4.0 or the Fourth Industrial Revolution focuses on giving a technical makeover to traditional manufacturing and industrial practices by integrating the latest, innovative technologies. One of the notable contributions of the latest industrial revolution is the use of machine-to-machine communication (M2M) and IoT-integrated practices in manufacturing. This has initiated efficient automation, preventive maintenance, as well as better communication in the entire sector.
The increasing demand for product quality, lower production costs, and extensive variety has ushered in the latest industrial revolution. The Industry 4.0 powered self-regulating production cells and smart manufacturing has revolutionized the operations and scaled customer satisfaction rates.
See the IoT Statistics for Manufacturing Sector
A recent study by PwC on the impact of IoT in manufacturing gave the following data.
- Around 71% of the manufacturers revealed that they are in the process of testing IoT-powered products in their projects
- 93% of them firmly believe that the many benefits of IoT overweigh its challenges
- 68% of the manufacturers stated that they intend to increase their investment in IoT in the upcoming years
- 80% of the surveyed industrial manufacturers reported having seen operational efficiency through IoT technology
- 41% mentioned they had supply chain benefits through IoT implementation
- 39% have secured their spaces through IoT and 44% are all set to deploy IoT to enhance employee safety
Industrial IoT (IIoT) – How it Influences the Core Aspects of Manufacturing
IIoT is a subset of the IoT technology, involving connected industrial assets along with in-built sensors and integrated software for data procession. Read more to find out the main areas of manufacturing highly influenced by IoT.
- Real-time data on operations– IIoT solutions have brought about innovation in manufacturing operations and facilitate data-driven decisions across the industry. Sensors placed in machinery collect real-time data on operations and equipment conditions and transfer the information to cloud-based platforms for analysis. The user can view the complete state of the production process by accessing the data through an application.
Smart IoT wearable devices also ensure the safety of employees working in hazardous environments by continuously monitoring their location and health condition
- Complete visibility into the supply chain process– With smart IoT sensors, manufacturers get to seamlessly monitor and manage the manufacturing supply chain. They get to keep tabs on vehicles transporting products, monitor warehouse stockpiles, and even control the temperature, humidity levels to suit the optimum condition for safe product storage
- Seamlessly manage remote activities and third-party operations– In most cases, enterprises may have various affiliates spread out across countries. Some may opt to outsource from third-party manufacturers to save their budget. Whatever it might be, with IoT technology, manufacturers can employ a coherent system to facilitate seamless, remote monitoring of all resources
The Effect of Industrial IoT on the Manufacturing Sector
- Improved savings– Optimized asset management coupled with predictive maintenance reduces unnecessary spending on operations and helps manufacturers save their money
- Data-driven decision making– The real-time insights into manufacturing operations and product performance allows the manufacturers to come up with faster and smarter decisions
- Enhanced process flow– IoT technology significantly reduces the gap between product conceptualization and production as it offers real-time data on process efficiency and other components involved in manufacturing, thereby scaling operational productivity
- Safety on-premises– IoT-powered wearable devices facilitate employee safety and help prevent accidents in the workspaces
- Enhanced customer satisfaction– The technology significantly improves the quality of products, leading to better customer satisfaction rates
The deployment of IoT technology has initiated the reshaping of manufacturing and supply chain processes. With real-time data on manufacturing operations, it has become possible to take the right measures to scale work productivity and product quality. Moreover, the technology has equipped the manufacturing sector to meet the growing customer demands. Leverage the technology at the earliest and realize its countless benefits for smart manufacturing.
Assistplus.io is a smart IoT solution leveraging RTLS features to optimize manufacturing operations. From asset management and tracking to optimized workflows and enhanced employee safety, the solution will help in re-inventing industry processes. To learn more about the product, connect with our team today.