Businesses in manufacturing and distribution are becoming more efficient and adaptable than ever before thanks to the rise of remote monitoring, predictive maintenance, and digital twins.
Industrial Internet of Things (IoT) devices are being used to collect key performance data, which manufacturers are then using to guide strategic business decisions and improve operational efficiency. The application of IoT technology in industrial settings is making us altogether less reliant on human labour and driving us toward a more productive future.
IoT technology is constantly evolving. Here are some of the ways it is helping to digitalise and optimise business performance in industrial sectors:
Digitalising the Supply Chain with the IoT
According to Mesh-Net, “the Internet of Things (IoT) provides devices with the ability to transfer sensor data over the Internet without requiring intervention.”
For businesses in manufacturing and distribution, these devices could include anything from GPS trackers to temperature and humidity sensors. By combining these connected devices with automated systems, it is possible to expand visibility and traceability for supply chain managers.
These smart devices constantly feed real-time data to a central management system, which enables the integration of all relevant information across the organisation. As well as giving business leaders access to better insights, this transparency allows for a more responsive supply chain and leads to greater cost efficiencies.
The IoT-Enabled Smart Factory
As well as digitalising the supply chain, IoT devices are transforming the factory. “To secure a smart future, manufacturers are leveraging the Internet of Things to reshape product development and production.”
Because of its ability to uncover hidden patterns and glean new insights, artificial intelligence is fast becoming mainstream in manufacturing. Smart devices are allowing modern manufacturers to record, capture and analyse critical information about their production assets and resources. This detailed overview of the manufacturing environment offers business leaders the opportunity to redefine their operations.
These digitised manufacturing facilities, otherwise known as ‘smart factories’, are giving manufacturers more power to foster innovation – from meeting demands for shorter delivery times to improving the sustainability of operations.
IoT-Enabled Asset Management Solutions
The Internet of Things brings various possibilities to the process of keeping track of business assets and information. It equips business leaders with information on the status and condition of their assets and facilitates their continuous monitoring in real time.
For businesses in manufacturing and distribution, IoT-enabled asset management solutions monitor the health of equipment entirely remotely and detect when breakdowns are likely to occur. This ensures that maintenance becomes proactive and helps to reduce unplanned downtime.
As well as reducing human error and the possibility of asset loss, IoT-enabled asset management solutions free up workers’ time to focus on revenue-generating responsibilities.
Can the Industrial IoT Help to Digitalise and Optimise Your Business Performance?
For businesses in manufacturing and distribution, it pays to embrace the industrial IoT. Find out how smart technologies can help transform your business processes and supply chains, and how you can utilise IoT in asset tracking, by contacting Slingshot Simulations today!