Looking at the manufacturing industry against the backdrop of economic volatility, rising costs, labor market challenges, increased market demand, supply chain issues, and an increasing need for sustainability, manufacturing companies have to consistently explore ways to increase efficiency, reduce costs, and improve productivity.
One of the enablers helping the industry overcome these challenges is the Internet of Things (IoT) — an Intelligent ecosystem of Devices connected that collect data, analyze & enable decision-making.
A study by Deloitte revealed that 86% of manufacturing executives believe smart factories will drive competitiveness in the next five years. With the Industrial Internet of Things (IIoT), manufacturing companies can have unique advantages which majorly includes, remote monitoring of operations, optimizing manufacturing processes, optimized supply chain management, improved Built-In Quality, reduced downtime, enabling predictive maintenance, improved workforce safety and data-driven decision making.
In this blog, we explore what is IoT, its advantages and its factors in detail.
What is IoT and IIoT?
The Internet of Things (IoT) refers to ecosystems of connected devices. Industrial IoT involves smart machines with sensors, applications, technologies such as artificial intelligence (AI), 5G, data analytics, and cloud computing, that work collectively to collect, monitor and analyze data from industrial processes. Real-time insights gathered from this process help achieve efficiency, reliability, accuracy, precision, and lower costs. This process also helps identify problems and inefficiencies before they occur. For instance, IoT is key to predictive maintenance in smart factories.
How IoT is transforming the manufacturing industry
- Enhanced Monitoring and Control:
IoT sensors and devices can monitor equipment and processes in real time. This allows for better control over production lines, as manufacturers can track performance metrics, detect anomalies, and make adjustments on the fly. Additionally, the entire process can be digitally mapped and monitored remotely which enables autonomous & efficient management.
- Enable predictive maintenance
Manufacturing companies consistently work on reducing costs. Some ways companies can reduce costs are to avoid machine downtime and reduce maintenance costs. This is an area where manufacturing companies are employing IoT to enable predictive maintenance to collect real-time data from machines, combine them with historical data, analyze and provide information that can help make decisions regarding machine efficiency, possible roadblocks, errors, and more. This helps companies reduce maintenance costs, avoid downtime, and get a competitive advantage.
3. Production efficiency
IIoT enables data collection from machines, helps in identifying trends, patterns, gaps, and areas of improvement. The sensors in the machines provide real-time information, metrics, and data, helping in setting up automated processes. It also helps in identifying possible problems and resolving them before they occur, reducing unplanned downtime. IoT allows remote monitoring and controlling of machines, easy coordination between machines and streamlining processes.
- Built In Quality
Machine tools manufacturing with IoT aids in Built In Quality of products. It helps in real time monitoring of quality, automated defect detection, data driven process adjustments, enhanced traceability, feedback loop for Quality Improvement and enhanced collaboration & reporting. This transforms Built-In Quality by embedding Quality Assurance directly into the manufacturing processes which not only helps in maintaining high-quality standards but also fosters continuous improvement and operational efficiency.
- Sustainability
An increasing number of manufacturing companies are committing to sustainability goals. Sustainability is not only the need of the hour, but also helps manufacturing companies attract customers who prefer working with companies that follow the same ethos and goals. IoT capabilities help with precise control over energy usage, reduction of waste, controlled material consumption, optimize production processes, reduce downtime, and extend the lifespan of machinery.
- Workforce safety
IoT is transforming safety in the shop floors by integrating advanced technologies such as AI, sensors, wearable devices, etc. IoT devices integrated with machine tools track machinery condition, predict hazards, for instance possible malfunctions, harmful substances, etc. and prevent incidents. IoT systems provide alerts for predictive maintenance and safety by improving visibility, detection, and control over the machines, thus reducing shop floor mishaps and improving the safety around manufacturing processes.
- Supply chain optimization
IoT can enhance supply chain visibility by tracking the location and condition of materials and products as they move through the supply chain. This data helps optimize inventory levels, reduce lead times, and improve overall supply chain efficiency.
IIoT: An opportunity for the machine tools manufacturing industry
Manufacturing companies are investing significantly in the transformation of the industry through technology and digital adoption. Embracing new technologies will likely be important for manufacturers across industries such as aerospace, agriculture, pharmaceuticals, automotive, among many others. IIoT can help tackle challenges and capture opportunities. Manufacturing companies would likely need to partner with companies that offer innovative and technologically advanced machine tools machining solutions, such as Bharat Fritz Werner (BFW). If you’re looking for innovative and customized IoT solutions for your manufacturing plant, contact our teams.
