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5 Key Benefits of IoT in the Manufacturing Industry

February 11, 2020 / By Molly Crockett

Every facet of our lives from the food we buy in supermarkets to the car parks we use when shopping is being digitalized in an attempt to create greater convenience and smoother operations. The IoT (the Internet of Things) connects physical objects to databases via sensors and an internet connection and is used for smart homes, retail, cars, healthcare, agriculture, and industry. Over the past few years, the manufacturing industry has been transformed by the IoT. This is a digital method of understanding customer needs through chips and sensors embedded in manufactured products that collect production data, which is analyzed by cloud software. Ideally, IoT results in higher customer satisfaction, product customization, lower expenditure, and develop a more refined understanding of supply and demand levels, although there are concerns about cybersecurity. The majority of manufacturers have already incorporated IoT strategies in their processes, and the response has generally been positive with reported increases in efficiency and productivity within manufacturing operations.

Understand some of the ways IoT is affecting the manufacturing industry through some critical aspects listed below:Find Out How Your Business Stacks Up1. Predictive Repairing
Potentially the most advantageous point of IoT is the computerized monitoring for errors and failures within the product. Pre-IoT, manufactured goods were monitored with routine inspections and subsequent component replacement. IoT gadgets have several sensors that measure the condition of the appliance for things like voltage, temperature, and current. If conditions aren’t optimal, then an alert is set up to warn the company that something is wrong and initiate the relevant repair process. This method massively cuts down time spent on maintenance and repair and subsequently, expenses since gadgets are only checked out when something needs to be fixed. It also ensures that no faults are missed, which they occasionally were with the random testing method of industry maintenance.

2. Security
Always the biggest concern with introducing new technology, particularly one that relies on the internet, is the threat of cybersecurity being compromised. Naturally, IoT comes with vulnerabilities. One of which is the risk of communication of information between IoT gadgets and the servers being put in jeopardy. Attacks on communication channels can lead to infringement on privacy and personal data. Other risks include attacks on device software and hardware, which can corrupt or damage processes. The security system of IoT is thorough, encompassing both the physical security of gadgets and the network security through security processes and technologies that are found governing machinery to indicate possible damage and start repair processes, individual devices, network systems, and each of the employees’ individual IoT gadgets. IoT can also help look after the safety of employees by monitoring heart rate and temperature and keeping track of employee location in hazardous environments. These safety and security aspects of IoT save companies vast amounts of money in reducing cyberattacks and injury.

3. Costs
Although IoT can be initially expensive to implement, the money-saving value is astronomical. Firstly, with remote control over processes and machinery, energy can be used efficiently. Additionally, asset management and inventory control that is optimized to real-time usage and demand save a massive amount of waste of materials and money. The overall reduction in product production time is also economically beneficial to businesses, and with IoT, the manufacturing industry as a whole is expected to save up to trillions of dollars.

4. Tracking Assets
IoT allows for remote tracking and control of all manufacturing assets involved in the manufacturing process. Every stage of the manufacturing process can be accounted for from the initial supplies of raw materials to the finished products. The data collected allows businesses to optimize their asset management. They will be able to keep track of the supply and demand, tailor logistics accordingly to utilize time advantageously, and identify and problematic discrepancies in the system such as theft. “Businesses incorporating IoT have found they can suddenly iron out the kinks in the industrial manufacturing processes that were previously considered inevitable, resulting in unprecedented efficiency,” says Ted Davidson, business blogger at Stateofwriting and Eliteassignmenthelp.

5. Product Customization
Moving with the current flow in technological advances, IoT can help companies understand customer preferences and adapt processes and production management to design products tailored to their interests. Although this may result in a more sophisticated inventory, it minimizes waste and improves customer satisfaction. “IoT in the manufacturing industry is the latest in technological infrastructure to join a world that maximizes convenience for the customer. Data is used to identify customer preferences and adapt entire industrial processes accordingly,” says Robin Burke, tech blogger at Bigassignments and Oxessays.

The rapid and almost total incorporation of IoT in the manufacturing industry sets a precedent for the future of product production. As it stands, IoT is an efficient and convenient way to massively reduce waste of products, materials, time, and money while customizing products to customer preferences. Such technology is expected to only increase in prevalence, and the massive amount of data it generates will help build a demand-tailored, smart future.

This is a guest post. We welcome guest posts about helping manufacturers increase sales and/or advance their marketing function. Email in your idea and you too could be a guest blogger on MMG.

Guest blogger - Molly Crockett is a travel and lifestyle writer for Academized  and Paperfellows. She has journeyed to many countries and loves sharing her experience with her audience and helping readers get the travel bug! Molly also writes and teaches for the platform Australianhelp.

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