TECH TALK
TECH TALK
Four ways the Internet of things will
transform the supply chain
IoT is transforming the manufacturing industry slowly but surely. Businesses who don’t want
to lose out need to start gearing up now, explains Tarik Taman, General Manager IMEA, Infor.
I
f there’s a ‘quick win’ to be had
with IoT, it’s in monitoring the
performance and maintenance of
industrial machines.
It was only a couple of years ago when
people spoke about the Internet of
things (IoT) as if it were a mysterious
superhero for business – it would rescue
old traditional industries and
set them on a new prosperous
path – but no one knew how
exactly it would work, or how
to use it. We’d all talk about
the moment, or year, or use
case when IoT finally ‘hits’ and
goes mainstream.
Well, it hasn’t quite panned
out that way. Instead, slowly
and quietly, IoT has started
to seep into different parts
of the manufacturing
process. And everyone from
aeroplane manufacturers
to chemical companies are
experimenting with use
cases that advance the
technology further. Observing
these use cases, we can now
extrapolate what IoT has in
store for manufacturers.
Following are four ways IoT
will reshape the supply chain
for manufacturers.
"Slowly and
quietly, IoT has
started to seep into
different parts of
the manufacturing
process. And
everyone from
aeroplane
manufacturers to
chemical companies
are experimenting
with use cases
that advance
the technology
further."
1. Asset performance
management
If there’s a ‘quick win’ to be had
with IoT, it’s with regards to the
performance and maintenance of
industrial machines. By equipping
industrial machinery with sensors
and connectivity, companies have
been able to gather real-time
data to better understand when
certain equipment breaks down or
needs maintenance. This has led
to proactive maintenance and the
smart-scheduling of workloads and
workflow to optimise output
and reliability.
IoT allows companies to use data
to answer questions such as: what
piece of equipment is most likely
to break down? How have various
devices performed in the past?
How much stress have they had?
By correlating breakdown instances
with external factors like weather
conditions, manufacturers can
discover patterns that can help
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them service equipment early and
avoid costly downtime.
The holistic goal of enterprise
asset management becomes more
achievable through the use of IoT.
2. Guaranteed performance
The next logical extension of asset
performance management is not just
to prevent failures, but to ensure a
certain level of performance. Selling
guaranteed performance/uptime is
an entirely new business model now
made possible by the IoT. It allows
traditional asset-based companies to
become service companies.
Smart sensors in IoT equipment allow
manufacturers to know what variables
are involved in a given process and
affords them greater control over
those variables. Real-time information
can lead to proactive decision-making
that can fine-tune operations for
greater profitability.
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