The future of IoT applications in the manufacturing enterprise
The outstanding features of the Internet of Things today have brought many benefits to businesses. Especially, for businesses that produce IoT applications, they benefit a lot.
IoT applications increase safety
Thanks to the application of IoT technology in production, safety in production is more assured. A new study conducted shows that every 15 seconds, about 151 workers face the risk of having a work-related accident. Therefore, devices applying IoT technology have contributed significantly to ensuring the safety of workers in industrial parks and manufacturing enterprises. With the implementation of IoT-based AI artificial intelligence technology, the analyzed data can give immediate warning signs to employees about current or pending issues, helping to make processes more relevant to reality. By analyzing data over a long period of time, it is possible to calculate problems or potentially hazardous conditions on equipment to reduce worker safety.
It is expected that by 2025, the number of smart devices globally will reach 75 billion. This shows that enterprises are now facing great opportunities to transform technology, specifically from old production management systems to new, more dynamic systems.
IoT application ensures optimal inventory level
Devices applying IoT technology can positively affect inventory retention by helping administrators get a clear view of the linkages between parts of the business from which it can be easily monitored. supply chain.
IoT enables accurate inventory calculation as well as efficient product tracking from the input of raw materials to the final product delivery to the customer. This process prevents unnecessary time or processes, or can provide immediate solutions if production flows are slowed down. Through IoT applications such as real-time data collection and analysis systems, businesses will be alerted when standard inventory levels are low or when inventory optimization is needed. IoT applications contribute to reducing product prices.
The benefits of IoT in manufacturing today are showing more and businesses are also aware of this. At the time of starting to deploy IoT, businesses may have to spend a large amount of capital. However, in return, they help reduce production costs and increase profits for businesses.
Specifically, IoT is reducing costs for businesses by saving more than 12% in repair costs with predictive maintenance and reducing errors in manufacturing processes by nearly 70%. As mentioned above, with sensors and data analysis, Internet of Things technology can detect and alert problems in equipment and recognize manufacturing anomalies.
It can be said that IoT can not only reduce equipment costs, but also save labor costs for businesses. Because IoT systems help to free up many hours of employees’ labor for manual inspection, by using technology to the maximum. This is like “one arrow hits two targets”, which can both reduce labor effort and minimize errors due to human error in the product quality control process. IoT also offers organizations the opportunity to better plan and, as a result, serve customers faster and more efficiently.
IoT application becomes the future trend of manufacturing enterprises.
By continuously improving with the aim of optimizing production processes, IoT technology is predicted to become the developed applications and solutions of manufacturing enterprises.
As the case may be, Microsoft recently announced that it will partner with the BMW Group to move towards smarter manufacturing operations based on the Internet of Things. This clearly demonstrates that many “big players” have also started to take advantage of this powerful technology platform and thereby, better grasp the needs and behavioral patterns of their customers and help increase productivity and efficiency. However, there are still some obstacles that need to be overcome, for example, some companies still lack knowledge to apply IoT, many companies are not equipped with enough modern machinery and equipment to serve IoT, … In addition, workers also need to undergo thorough training in IoT applications in practice.
Any business can apply IoT to business of any size. Businesses can start from a system of machines with large resources to meet the needs of the business. Thereby seizing new transformation opportunities for your business. Your business can seek advice from experts from HPE, here.
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