Like all other industries, the manufacturing sector is embracing digital technology in the modern era to improve productivity. With the use of modern technologies such as blockchain software solutions and SaaS development, manufacturing firms are striving to enhance their productivity. Among these technologies, the IoT in manufacturing has evolved as a particularly innovative solution. IoT enables the connection of everyday objects with computers and smartphones, facilitating remote access and data transfer about the objects’ condition over the web.
According to Markets and Markets, the global IoT in manufacturing market size is anticipated to increase up to USD 87.9 billion by 2026.
Let’s delve into the use cases of IoT and its significance for the manufacturing domain.
1). Supply Chain Management and Optimization
The IoT in manufacturing has significantly transformed supply chain management and optimization. It has simplified the tracking of goods, their storage locations, and estimated arrival times at specific destinations. Hence, it makes it easier for suppliers to manage their supply chains effectively. With the usage of GPS and other sensors and tools, it is possible to verify and predict the location of products accurately, which gives customers the exact date and time of delivery.
IoT technology has a wide variety of applications in supply chain management and optimization.
- Attaching sensors to products or containers to authenticate their location.
- Monitoring traffic flow and product movement speed to enhance efficiency and reduce handling time.
- Regulating storage conditions such as humidity, temperature, and light intensity through IoT devices may even trigger an alarm in case of deviations.
- Planning alternative routes to mitigate transit delays.
- Tagging goods with IoT devices for easy identification during storage.
- Simplifying administration procedures for received goods.
The supply chain management and optimization by IoT prevent delays, loss, or damage to products which leads to customer satisfaction and enhanced supply chain performance.
2). Remote Asset Monitoring
Remote asset monitoring is a classic example of “doing more with less” within the manufacturing domain which involves the use of IoT sensors. These sensors collect and monitor data about the operation and productivity of the machine which is then transmitted to an AI platform for analysis.
This real-time data can be accessed by personnel, providing a complete overview of the production line, from machine performance to potential breakdowns. By forecasting breakdowns, remote monitoring via IoT can enable the necessary steps for minimizing downtime.
The following are some key benefits of IoT in manufacturing through remote asset monitoring:
- Cost reduction
- Downtime reduction
- Maximization of machine uptime
- Accurate breakdown prediction
- Elimination of intermediaries
3). KPI Compilation
Understanding whether the manufacturing process is operating smoothly requires significant effort, including constant monitoring and analysis of performance metrics or KPIs, as well as the preparation and analysis of dashboards, reports, and other data. Fortunately, IoT in manufacturing simplifies the process of KPI compilation by providing real-time monitoring, detailed reports, and quick analysis. The IoT technology delivers accurate insights into how the manufacturing process is functioning, identifying areas in need of improvement and facilitating necessary action to rectify the situation.
IoT platforms allow data collection and analysis to generate simplified reports that filter lengthy results into easily understandable outcomes. Some of the top benefits of using IoT in manufacturing are the provision of a solid foundation for decision-making, enhanced communication efficiency between departments, better resource utilization, time and money savings, and improved worker safety.
4). Automation
IoT technology in manufacturing can successfully drive automation within operations. IoT-based automation is much more comprehensive and beneficial than the simple use of robots in a factory setting. Instead, IoT can address cases where machines accidentally breakdowns which negatively impacts work and the resultant productivity. During any asset mishap, IoT sensors sound an alarm and notify the technician or operator’s nearest or wearable device which enables them to take immediate action and conserve valuable time and resources.
Moreover, the integration of IoT in UR+ robots, which implement mundane and repetitive tasks, can be enhanced. Key benefits of incorporating IoT technology into manufacturing automation include operational efficiency, empowered access control, increased uptime, better customer insights, and improved functionality.
5). Predictive Maintenance
Predictive maintenance aims to prevent unnecessary downtime costs by anticipating maintenance needs. It encompasses three critical areas: asset condition and performance, work order data, and MRO inventory usage. Using IoT tools and sensors, data is collected from these areas and analyzed to identify areas that require immediate attention. Predictive maintenance is used for various aspects of manufacturing such as oil analysis, vibration analysis, equipment monitoring, thermal imaging, etc.
The benefits of predictive maintenance are varied including reducing downtime, minimizing maintenance hours, and lowering costs.
6). Energy Management
Energy management involves the use of tools and methods to efficiently procure, distribute, and utilise energy in manufacturing, with the aim of reducing costs and reducing environmental impact. Most manufacturing companies have energy management systems which involve the use of meters to collect data for analysis by human employees. However, this traditional approach is mostly cumbersome, ineffective, and error-prone, as it obstructs the real-time adjustment of energy systems.
With an IoT-based energy management system, manufacturers can always have a comprehensive view of energy consumption per unit of equipment or plant at all times. It results in cost savings by reducing transformer losses, standby loads, and peak loads, and eliminating the need for manual data collection during energy audits.
Similar to predictive maintenance, an IoT-powered energy management system involves the use of smart energy meters installed across the plant to collect data on energy consumption, including voltage and KWH, which is sent to an IoT platform.
By analyzing consumption patterns and identifying anomalous energy consumption, energy managers can detect unknown energy consumers and equipment failures. After combining energy sensors with machine learning-powered anomaly detection tools, resulting in a holistic IoT-enabled energy solution that works in sync with predictive maintenance systems.
Wrapping Up
The IoT is one of the important future technology, and it has already created a storm in every industry possible, and manufacturing is no exception. However, in order to successfully execute IoT development services, business leaders need to be aware of the challenges in this industry. As with any major technological transformation, it takes time for this concept to come to fruition. Therefore, patience is the key while investing in IoT.
